Arcturus Therapeutics (NASDAQ:ARCT) Given “Buy” Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Arcturus Therapeutics (NASDAQ:ARCT) in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a $63.00 target price on the biotechnology company’s stock.

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcturus Therapeutics in a report on Monday, December 16th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $66.75.

Arcturus Therapeutics Stock Performance

Shares of ARCT opened at $20.83 on Tuesday. Arcturus Therapeutics has a fifty-two week low of $14.30 and a fifty-two week high of $45.00. The business has a 50-day moving average of $17.56 and a 200 day moving average of $20.26. The firm has a market cap of $564.22 million, a P/E ratio of -9.38 and a beta of 2.63.

Arcturus Therapeutics (NASDAQ:ARCT) last posted its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.70) by $0.44. The company had revenue of $41.67 million for the quarter, compared to analyst estimates of $49.16 million. Arcturus Therapeutics had a negative net margin of 36.39% and a negative return on equity of 22.39%. During the same quarter in the previous year, the firm posted ($0.61) earnings per share. As a group, research analysts predict that Arcturus Therapeutics will post -2.31 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Pad Chivukula sold 12,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $20.76, for a total value of $249,120.00. Following the sale, the chief operating officer now owns 435,334 shares in the company, valued at approximately $9,037,533.84. This trade represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 15.30% of the company’s stock.

Hedge Funds Weigh In On Arcturus Therapeutics

A number of institutional investors have recently added to or reduced their stakes in ARCT. Bank of New York Mellon Corp grew its holdings in shares of Arcturus Therapeutics by 3.1% during the second quarter. Bank of New York Mellon Corp now owns 119,181 shares of the biotechnology company’s stock worth $2,902,000 after purchasing an additional 3,578 shares in the last quarter. Quest Partners LLC grew its stake in Arcturus Therapeutics by 3,283.5% in the 2nd quarter. Quest Partners LLC now owns 3,688 shares of the biotechnology company’s stock worth $90,000 after buying an additional 3,579 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Arcturus Therapeutics in the 2nd quarter worth $596,000. Point72 DIFC Ltd purchased a new stake in shares of Arcturus Therapeutics during the 2nd quarter valued at $188,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Arcturus Therapeutics during the 2nd quarter worth $718,000. 94.54% of the stock is currently owned by institutional investors.

About Arcturus Therapeutics

Arcturus Therapeutics Holdings Inc, a late-stage clinical messenger RNA medicines and vaccine company, focuses on the development of infectious disease vaccines and other products within liver and respiratory rare diseases. Its technology platforms include LUNAR lipid-mediated delivery and STARR mRNA.