Arcturus Therapeutics (NASDAQ:ARCT) Shares Gap Up to $18.08

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) shares gapped up before the market opened on Monday . The stock had previously closed at $18.08, but opened at $19.19. Arcturus Therapeutics shares last traded at $18.92, with a volume of 118,100 shares traded.

Wall Street Analyst Weigh In

Several research firms recently commented on ARCT. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcturus Therapeutics in a report on Tuesday, August 6th. HC Wainwright lifted their target price on shares of Arcturus Therapeutics from $60.00 to $63.00 and gave the company a “buy” rating in a report on Thursday. Canaccord Genuity Group lowered their price target on shares of Arcturus Therapeutics from $87.00 to $86.00 and set a “buy” rating on the stock in a report on Friday, May 10th. SVB Leerink began coverage on shares of Arcturus Therapeutics in a report on Monday. They issued an “outperform” rating and a $70.00 price objective for the company. Finally, William Blair reissued an “outperform” rating on shares of Arcturus Therapeutics in a research note on Thursday, May 23rd. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Arcturus Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $68.50.

Arcturus Therapeutics Stock Performance

The company has a market capitalization of $510.90 million, a PE ratio of -4.95 and a beta of 2.64. The company has a 50 day simple moving average of $25.76 and a 200 day simple moving average of $30.61.

Arcturus Therapeutics (NASDAQ:ARCT) last posted its quarterly earnings data on Monday, August 5th. The biotechnology company reported ($0.64) EPS for the quarter, beating the consensus estimate of ($1.85) by $1.21. Arcturus Therapeutics had a negative return on equity of 37.61% and a negative net margin of 81.59%. The firm had revenue of $49.86 million during the quarter, compared to the consensus estimate of $21.00 million. During the same period in the prior year, the company earned ($1.98) EPS. As a group, equities research analysts anticipate that Arcturus Therapeutics Holdings Inc. will post -4.74 EPS for the current year.

Insider Activity at Arcturus Therapeutics

In other news, COO Pad Chivukula sold 26,000 shares of Arcturus Therapeutics stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $40.01, for a total transaction of $1,040,260.00. Following the transaction, the chief operating officer now owns 447,448 shares in the company, valued at approximately $17,902,394.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 13.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC lifted its stake in shares of Arcturus Therapeutics by 1.7% in the 4th quarter. SummerHaven Investment Management LLC now owns 22,704 shares of the biotechnology company’s stock valued at $716,000 after purchasing an additional 378 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in Arcturus Therapeutics by 10.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 4,492 shares of the biotechnology company’s stock worth $152,000 after buying an additional 428 shares during the period. Formidable Asset Management LLC boosted its stake in Arcturus Therapeutics by 3.3% during the fourth quarter. Formidable Asset Management LLC now owns 15,550 shares of the biotechnology company’s stock worth $490,000 after buying an additional 500 shares during the period. BNP Paribas Financial Markets increased its position in shares of Arcturus Therapeutics by 3.0% during the fourth quarter. BNP Paribas Financial Markets now owns 23,259 shares of the biotechnology company’s stock valued at $733,000 after acquiring an additional 682 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its stake in shares of Arcturus Therapeutics by 2.5% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 31,930 shares of the biotechnology company’s stock valued at $1,078,000 after acquiring an additional 778 shares during the period. 94.54% of the stock is currently owned by hedge funds and other institutional investors.

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.