Arcturus Therapeutics (NASDAQ:ARCT) Given Overweight Rating at Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Arcturus Therapeutics (NASDAQ:ARCT) in a report issued on Friday,Benzinga reports.

Other equities analysts have also issued research reports about the company. BTIG Research began coverage on Arcturus Therapeutics in a research note on Tuesday, January 28th. They set a “buy” rating and a $41.00 price target on the stock. HC Wainwright reissued a “buy” rating and issued a $63.00 target price on shares of Arcturus Therapeutics in a research note on Friday, February 14th. Finally, Wells Fargo & Company cut their target price on Arcturus Therapeutics from $58.00 to $50.00 and set an “overweight” rating on the stock in a research note on Friday. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $61.40.

Arcturus Therapeutics Stock Down 8.9 %

Shares of ARCT opened at $14.55 on Friday. Arcturus Therapeutics has a 12-month low of $14.11 and a 12-month high of $45.00. The firm has a market capitalization of $394.12 million, a PE ratio of -6.55 and a beta of 2.96. The stock’s fifty day simple moving average is $16.95 and its 200-day simple moving average is $18.59.

Arcturus Therapeutics (NASDAQ:ARCT) last issued its quarterly earnings results on Thursday, March 6th. The biotechnology company reported ($1.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.78). Arcturus Therapeutics had a negative net margin of 36.39% and a negative return on equity of 22.39%. The firm had revenue of $22.77 million for the quarter, compared to analyst estimates of $44.64 million. Analysts anticipate that Arcturus Therapeutics will post -2.22 EPS for the current year.

Institutional Investors Weigh In On Arcturus Therapeutics

A number of hedge funds have recently modified their holdings of ARCT. Sumitomo Mitsui Trust Group Inc. raised its position in shares of 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 period. Balyasny Asset Management L.P. acquired a new stake in shares of Arcturus Therapeutics during the fourth quarter worth about $9,312,000. Schonfeld Strategic Advisors LLC raised its position in shares of 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 period. J. Goldman & Co LP acquired a new stake in shares of Arcturus Therapeutics during the fourth quarter worth about $5,024,000. Finally, MPM Bioimpact LLC raised its position in shares of Arcturus Therapeutics by 109.5% during the fourth quarter. MPM Bioimpact LLC now owns 459,943 shares of the biotechnology company’s stock worth $7,805,000 after purchasing an additional 240,435 shares during the period. 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.