William Blair Reaffirms “Outperform” Rating for Arcturus Therapeutics (NASDAQ:ARCT)

William Blair reaffirmed their outperform rating on shares of Arcturus Therapeutics (NASDAQ:ARCT) in a research report report published on Thursday, RTT News reports.

Several other analysts have also recently issued reports on the stock. HC Wainwright reissued a buy rating and set a $60.00 price objective on shares of Arcturus Therapeutics in a research note on Wednesday, March 20th. Citigroup boosted their price objective on shares of Arcturus Therapeutics from $40.00 to $48.00 and gave the company a buy rating in a research note on Thursday, February 8th. Finally, Canaccord Genuity Group decreased their price target 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. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $64.86.

Arcturus Therapeutics Stock Performance

ARCT stock opened at $30.41 on Thursday. Arcturus Therapeutics has a one year low of $17.52 and a one year high of $43.81. The company has a 50 day moving average price of $29.97 and a two-hundred day moving average price of $31.08. The stock has a market capitalization of $818.94 million, a P/E ratio of -7.78 and a beta of 2.65.

Arcturus Therapeutics (NASDAQ:ARCT) last announced its quarterly earnings data on Thursday, March 7th. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.69) by $1.37. Arcturus Therapeutics had a negative net margin of 81.59% and a negative return on equity of 37.61%. The company had revenue of $33.99 million during the quarter, compared to analysts’ expectations of $64.14 million. Research analysts forecast that Arcturus Therapeutics will post -4.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Pad Chivukula sold 17,435 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $35.02, for a total transaction of $610,573.70. Following the completion of the sale, the chief operating officer now directly owns 473,448 shares of the company’s stock, valued at approximately $16,580,148.96. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 13.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Arcturus Therapeutics

A number of institutional investors have recently added to or reduced their stakes in ARCT. Commonwealth Equity Services LLC lifted its holdings in Arcturus Therapeutics by 27.7% in the 3rd quarter. Commonwealth Equity Services LLC now owns 14,739 shares of the biotechnology company’s stock worth $377,000 after buying an additional 3,200 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Arcturus Therapeutics by 3.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 94,427 shares of the biotechnology company’s stock worth $2,413,000 after buying an additional 3,587 shares in the last quarter. MGO One Seven LLC lifted its holdings in Arcturus Therapeutics by 4.4% in the 3rd quarter. MGO One Seven LLC now owns 23,688 shares of the biotechnology company’s stock worth $605,000 after buying an additional 1,000 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in Arcturus Therapeutics by 5.9% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 10,853 shares of the biotechnology company’s stock worth $277,000 after buying an additional 606 shares in the last quarter. Finally, Barclays PLC lifted its holdings in Arcturus Therapeutics by 15.5% in the 3rd quarter. Barclays PLC now owns 112,467 shares of the biotechnology company’s stock worth $2,873,000 after buying an additional 15,112 shares in 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.