HC Wainwright Reaffirms Buy Rating for Arcturus Therapeutics (NASDAQ:ARCT)

Arcturus Therapeutics (NASDAQ:ARCT)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a research report issued on Friday,Benzinga reports. They currently have a $63.00 target price on the biotechnology company’s stock. HC Wainwright’s target price points to a potential upside of 221.02% from the company’s current price. HC Wainwright also issued estimates for Arcturus Therapeutics’ FY2028 earnings at $13.21 EPS.

A number of other research firms have also weighed in on ARCT. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcturus Therapeutics in a report on Monday, September 9th. Leerink Partners initiated coverage on shares of Arcturus Therapeutics in a research note on Monday, August 12th. They set an “outperform” rating and a $70.00 target price for the company. Finally, Leerink Partnrs upgraded shares of Arcturus Therapeutics to a “strong-buy” rating in a research note on Monday, August 12th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $71.40.

Arcturus Therapeutics Trading Up 4.7 %

Shares of NASDAQ:ARCT opened at $19.63 on Friday. The company has a 50-day simple moving average of $20.61 and a 200 day simple moving average of $24.23. Arcturus Therapeutics has a 52-week low of $17.26 and a 52-week high of $45.00.

Insider Buying and Selling

In other news, COO Pad Chivukula sold 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $20.76, for a total transaction of $249,120.00. Following the transaction, the chief operating officer now directly owns 435,334 shares of the company’s stock, valued at approximately $9,037,533.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 15.30% of the stock is owned by insiders.

Institutional Trading of Arcturus Therapeutics

Several large investors have recently modified their holdings of the stock. Sumitomo Mitsui Trust Group Inc. grew its stake in Arcturus Therapeutics by 45.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,275,715 shares of the biotechnology company’s stock worth $52,819,000 after buying an additional 712,650 shares in the last quarter. ARK Investment Management LLC boosted its position in shares of Arcturus Therapeutics by 6.9% during the 3rd quarter. ARK Investment Management LLC now owns 2,101,038 shares of the biotechnology company’s stock worth $48,765,000 after acquiring an additional 136,074 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Arcturus Therapeutics by 22.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,563,065 shares of the biotechnology company’s stock valued at $38,061,000 after acquiring an additional 286,546 shares during the last quarter. Millennium Management LLC raised its position in Arcturus Therapeutics by 250.1% during the second quarter. Millennium Management LLC now owns 555,024 shares of the biotechnology company’s stock valued at $13,515,000 after purchasing an additional 396,505 shares in the last quarter. Finally, Royce & Associates LP lifted its stake in Arcturus Therapeutics by 18.3% during the third quarter. Royce & Associates LP now owns 155,803 shares of the biotechnology company’s stock worth $3,616,000 after purchasing an additional 24,085 shares during the last quarter. 94.54% of the stock is owned by institutional investors and hedge funds.

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.