Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) Sees Significant Increase in Short Interest

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) was the target of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 4,380,000 shares, a growth of 6.6% from the May 31st total of 4,110,000 shares. Based on an average trading volume of 594,800 shares, the days-to-cover ratio is presently 7.4 days. Approximately 17.8% of the shares of the stock are sold short.

Arcturus Therapeutics Price Performance

Shares of ARCT stock opened at $21.48 on Wednesday. The company has a 50-day moving average of $29.99 and a two-hundred day moving average of $32.57. The firm has a market cap of $578.46 million, a PE ratio of -5.49 and a beta of 2.65. Arcturus Therapeutics has a 1-year low of $17.52 and a 1-year high of $45.00.

Arcturus Therapeutics (NASDAQ:ARCT) last posted its quarterly earnings data on Wednesday, May 8th. The biotechnology company reported ($1.00) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.17) by $0.17. Arcturus Therapeutics had a negative return on equity of 37.61% and a negative net margin of 81.59%. The firm had revenue of $38.01 million for the quarter, compared to the consensus estimate of $22.12 million. Sell-side analysts anticipate that Arcturus Therapeutics will post -4.39 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Canaccord Genuity Group reduced their target price on shares of Arcturus Therapeutics from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Friday, May 10th. HC Wainwright reissued a “buy” rating and set a $60.00 price objective on shares of Arcturus Therapeutics in a research note on Tuesday. Finally, William Blair reaffirmed an “outperform” rating on shares of Arcturus Therapeutics in a research note on Thursday, May 23rd. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $64.86.

Insider Buying and Selling at Arcturus Therapeutics

In related news, COO Pad Chivukula sold 26,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $40.01, for a total transaction of $1,040,260.00. Following the completion of the sale, the chief operating officer now directly owns 447,448 shares in the company, valued at $17,902,394.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 13.80% of the company’s stock.

Hedge Funds Weigh In On Arcturus Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARCT. Allspring Global Investments Holdings LLC raised its holdings in shares of Arcturus Therapeutics by 224.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 114,810 shares of the biotechnology company’s stock valued at $3,620,000 after purchasing an additional 79,387 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Arcturus Therapeutics during the 4th quarter worth $927,000. Schonfeld Strategic Advisors LLC acquired a new position in Arcturus Therapeutics during the third quarter worth about $2,738,000. AQR Capital Management LLC grew its holdings in shares of Arcturus Therapeutics by 239.8% in the 3rd quarter. AQR Capital Management LLC now owns 172,202 shares of the biotechnology company’s stock worth $4,400,000 after acquiring an additional 121,526 shares during the period. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in Arcturus Therapeutics by 2.5% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 31,930 shares of the biotechnology company’s stock valued at $1,078,000 after purchasing an additional 778 shares during the last quarter. Hedge funds and other institutional investors own 94.54% of the company’s stock.

Arcturus Therapeutics Company Profile

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.