Arcturus Therapeutics (NASDAQ:ARCT) Research Coverage Started at SVB Leerink

SVB Leerink began coverage on shares of Arcturus Therapeutics (NASDAQ:ARCT) in a report published on Monday morning, MarketBeat reports. The firm issued an outperform rating and a $70.00 price objective on the biotechnology company’s stock.

Several other research firms have also weighed in on ARCT. William Blair restated an outperform rating on shares of Arcturus Therapeutics in a report on Thursday, May 23rd. Cantor Fitzgerald reaffirmed an overweight rating on shares of Arcturus Therapeutics in a research report on Tuesday, August 6th. HC Wainwright raised their price target on Arcturus Therapeutics from $60.00 to $63.00 and gave the company a buy rating in a research report on Thursday, August 8th. Finally, Canaccord Genuity Group lowered their price target on Arcturus Therapeutics from $87.00 to $86.00 and set a buy rating on the stock in a research report on Friday, May 10th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Arcturus Therapeutics currently has an average rating of Buy and a consensus price target of $68.50.

Arcturus Therapeutics Trading Down 2.3 %

Shares of NASDAQ ARCT opened at $19.21 on Monday. The stock has a 50 day simple moving average of $24.89 and a 200-day simple moving average of $30.41. The company has a market cap of $517.36 million, a PE ratio of -4.91 and a beta of 2.64. Arcturus Therapeutics has a 12-month low of $17.52 and a 12-month high of $45.00.

Arcturus Therapeutics (NASDAQ:ARCT) last released its earnings results on Monday, August 5th. The biotechnology company reported ($0.64) earnings per share for the quarter, topping analysts’ consensus estimates 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 firm posted ($1.98) earnings per share. Sell-side analysts forecast that Arcturus Therapeutics will post -4.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Pad Chivukula sold 26,000 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $40.01, for a total value of $1,040,260.00. Following the completion of the transaction, the chief operating officer now directly owns 447,448 shares of the company’s stock, valued at approximately $17,902,394.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 13.80% of the company’s stock.

Institutional Investors Weigh In On Arcturus Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Squarepoint Ops LLC bought a new stake in Arcturus Therapeutics during the 2nd quarter worth about $718,000. Point72 DIFC Ltd bought a new stake in Arcturus Therapeutics during the 2nd quarter worth about $188,000. XTX Topco Ltd bought a new stake in Arcturus Therapeutics during the 2nd quarter worth about $596,000. Quest Partners LLC raised its holdings in shares of Arcturus Therapeutics by 3,283.5% in the 2nd quarter. Quest Partners LLC now owns 3,688 shares of the biotechnology company’s stock valued at $90,000 after purchasing an additional 3,579 shares during the period. Finally, ARK Investment Management LLC raised its holdings in shares of Arcturus Therapeutics by 16.3% in the 2nd quarter. ARK Investment Management LLC now owns 1,964,964 shares of the biotechnology company’s stock valued at $47,847,000 after purchasing an additional 275,315 shares during the period. 94.54% of the stock is owned by institutional investors.

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.