Morgan Stanley Decreases Holdings in Arcturus Therapeutics Ltd (NASDAQ:ARCT)

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Morgan Stanley cut its holdings in shares of Arcturus Therapeutics Ltd (NASDAQ:ARCT) by 38.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 43,190 shares of the biotechnology company’s stock after selling 26,888 shares during the quarter. Morgan Stanley’s holdings in Arcturus Therapeutics were worth $408,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. ARK Investment Management LLC raised its stake in shares of Arcturus Therapeutics by 8.3% during the second quarter. ARK Investment Management LLC now owns 1,004,368 shares of the biotechnology company’s stock worth $9,481,000 after acquiring an additional 77,224 shares in the last quarter. Highline Capital Management L.P. raised its stake in shares of Arcturus Therapeutics by 356.6% during the second quarter. Highline Capital Management L.P. now owns 217,866 shares of the biotechnology company’s stock worth $2,057,000 after acquiring an additional 170,152 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Arcturus Therapeutics during the second quarter worth approximately $1,227,000. Nikko Asset Management Americas Inc. raised its stake in shares of Arcturus Therapeutics by 102.8% during the second quarter. Nikko Asset Management Americas Inc. now owns 129,974 shares of the biotechnology company’s stock worth $1,227,000 after acquiring an additional 65,875 shares in the last quarter. Finally, BlackRock Inc. raised its stake in shares of Arcturus Therapeutics by 23.5% during the second quarter. BlackRock Inc. now owns 23,548 shares of the biotechnology company’s stock worth $222,000 after acquiring an additional 4,480 shares in the last quarter. 18.64% of the stock is currently owned by hedge funds and other institutional investors.

ARCT has been the topic of several research reports. HC Wainwright set a $18.00 price target on shares of Arcturus Therapeutics and gave the stock a “buy” rating in a research note on Friday, August 16th. Zacks Investment Research upgraded shares of Arcturus Therapeutics from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a report on Tuesday, November 5th. ValuEngine cut shares of Arcturus Therapeutics from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. Finally, Brookline Capital Management restated a “buy” rating on shares of Arcturus Therapeutics in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. Arcturus Therapeutics currently has a consensus rating of “Buy” and an average target price of $16.33.

In related news, CEO Joseph E. Payne purchased 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were acquired at an average price of $11.22 per share, for a total transaction of $56,100.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter C. Farrell purchased 9,113 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was bought at an average price of $10.94 per share, for a total transaction of $99,696.22. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 26,413 shares of company stock worth $289,130. 18.10% of the stock is currently owned by company insiders.

Shares of Arcturus Therapeutics stock traded down $0.09 on Tuesday, hitting $9.74. The stock had a trading volume of 26,200 shares, compared to its average volume of 44,193. The company has a quick ratio of 2.51, a current ratio of 2.51 and a debt-to-equity ratio of 2.43. Arcturus Therapeutics Ltd has a one year low of $4.11 and a one year high of $15.50. The stock has a market cap of $140.33 million, a price-to-earnings ratio of -4.51 and a beta of 2.50. The stock’s 50-day simple moving average is $10.70 and its two-hundred day simple moving average is $9.50.

Arcturus Therapeutics (NASDAQ:ARCT) last issued its earnings results on Thursday, August 15th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.53) by $0.46. Arcturus Therapeutics had a negative net margin of 63.05% and a negative return on equity of 160.16%. The firm had revenue of $10.15 million for the quarter, compared to analysts’ expectations of $4.01 million. As a group, equities analysts predict that Arcturus Therapeutics Ltd will post -1.59 EPS for the current fiscal year.

Arcturus Therapeutics Profile

Arcturus Therapeutics Ltd., an RNA medicines company, focuses on treatment of liver and respiratory diseases. The company's pipeline of RNA therapeutics include programs pursuing rare diseases, hepatitis B, non-alcoholic steatohepatitis, cystic fibrosis, and vaccines. The company owns LUNAR lipid-mediated delivery and Unlocked Nucleomonomer Agent (UNA) technology, including UNA Oligomers, which are covered by its patent portfolio, including 152 patents and patent applications issued in the United States, Europe, Japan, China, and internationally.

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Want to see what other hedge funds are holding ARCT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arcturus Therapeutics Ltd (NASDAQ:ARCT).

Institutional Ownership by Quarter for Arcturus Therapeutics (NASDAQ:ARCT)

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