Short Interest in Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) Drops By 9.9%

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) saw a significant decrease in short interest in January. As of January 31st, there was short interest totalling 4,540,000 shares, a decrease of 9.9% from the January 15th total of 5,040,000 shares. Approximately 18.5% of the shares of the stock are sold short. Based on an average daily volume of 429,700 shares, the short-interest ratio is presently 10.6 days.

Analysts Set New Price Targets

Several analysts have issued reports on ARCT shares. BTIG Research began coverage on shares of Arcturus Therapeutics in a report on Tuesday, January 28th. They issued a “buy” rating and a $41.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcturus Therapeutics in a research note on Monday, December 16th. Finally, HC Wainwright reissued a “buy” rating and set a $63.00 price objective on shares of Arcturus Therapeutics in a research note on Friday. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $65.00.

Arcturus Therapeutics Stock Performance

Shares of ARCT opened at $18.05 on Monday. Arcturus Therapeutics has a 1 year low of $14.30 and a 1 year high of $45.00. The company’s 50 day simple moving average is $17.01 and its 200 day simple moving average is $18.92. The company has a market capitalization of $488.97 million, a price-to-earnings ratio of -8.13 and a beta of 2.62.

Hedge Funds Weigh In On Arcturus Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of ARCT. Sumitomo Mitsui Trust Group Inc. increased 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 worth $52,819,000 after purchasing an additional 712,650 shares during the last quarter. Schonfeld Strategic Advisors LLC increased its position in Arcturus Therapeutics by 129.7% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 849,081 shares of the biotechnology company’s stock worth $14,409,000 after purchasing an additional 479,482 shares during the last quarter. Empire Life Investments Inc. acquired a new position in Arcturus Therapeutics during the third quarter worth approximately $3,498,000. ARK Investment Management LLC increased its position in Arcturus Therapeutics by 6.9% during the third quarter. ARK Investment Management LLC now owns 2,101,038 shares of the biotechnology company’s stock worth $48,765,000 after purchasing an additional 136,074 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Arcturus Therapeutics by 6.8% during the fourth quarter. Vanguard Group Inc. now owns 1,684,561 shares of the biotechnology company’s stock worth $28,587,000 after purchasing an additional 107,635 shares during the last quarter. Institutional investors and hedge funds 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.