State Street Corp Sells 50,883 Shares of Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT)

State Street Corp cut its holdings in Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) by 3.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,472,955 shares of the biotechnology company’s stock after selling 50,883 shares during the period. State Street Corp owned about 5.44% of Arcturus Therapeutics worth $34,187,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Sumitomo Mitsui Trust Group Inc. raised its position 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 valued at $52,819,000 after purchasing an additional 712,650 shares during the period. Empire Life Investments Inc. purchased a new stake in Arcturus Therapeutics during the 3rd quarter valued at $3,498,000. XTX Topco Ltd bought a new stake in Arcturus Therapeutics in the second quarter worth $596,000. Squarepoint Ops LLC purchased a new position in Arcturus Therapeutics during the second quarter worth $718,000. Finally, SG Americas Securities LLC bought a new position in Arcturus Therapeutics during the third quarter valued at $191,000. 94.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ARCT. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcturus Therapeutics in a research note on Monday, December 16th. HC Wainwright reissued a “buy” rating and set a $63.00 price target on shares of Arcturus Therapeutics in a research note on Tuesday. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $66.75.

Insiders Place Their Bets

In other news, COO Pad Chivukula sold 12,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $20.76, for a total value of $249,120.00. Following the completion of the sale, the chief operating officer now owns 435,334 shares in the company, valued at approximately $9,037,533.84. The trade was a 2.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 15.30% of the stock is owned by company insiders.

Arcturus Therapeutics Stock Performance

Shares of NASDAQ ARCT opened at $15.48 on Friday. Arcturus Therapeutics Holdings Inc. has a 52-week low of $14.30 and a 52-week high of $45.00. The firm has a market capitalization of $419.31 million, a price-to-earnings ratio of -6.97 and a beta of 2.62. The stock has a 50 day moving average price of $18.24 and a 200 day moving average price of $21.62.

Arcturus Therapeutics (NASDAQ:ARCT) last issued its earnings results on Thursday, November 7th. The biotechnology company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.70) by $0.44. The business had revenue of $41.67 million during the quarter, compared to analysts’ expectations of $49.16 million. Arcturus Therapeutics had a negative return on equity of 22.39% and a negative net margin of 36.39%. During the same period in the prior year, the business earned ($0.61) EPS. Analysts forecast that Arcturus Therapeutics Holdings Inc. will post -2.31 earnings per share for the current year.

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.