Arcturus Therapeutics (NASDAQ:ARCT) Price Target Lowered to $68.00 at Canaccord Genuity Group

Arcturus Therapeutics (NASDAQ:ARCT) had its price objective dropped by Canaccord Genuity Group from $74.00 to $68.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. Canaccord Genuity Group’s price target points to a potential upside of 377.06% from the stock’s current price.

Several other equities research analysts have also recently commented on the company. BTIG Research set a $48.00 price objective on Arcturus Therapeutics and gave the company a “buy” rating in a research report on Monday. Wells Fargo & Company dropped their price target on shares of Arcturus Therapeutics from $58.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday. HC Wainwright decreased their price objective on shares of Arcturus Therapeutics from $63.00 to $60.00 and set a “buy” rating for the company in a report on Friday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcturus Therapeutics in a research report on Friday. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $59.20.

Arcturus Therapeutics Price Performance

Arcturus Therapeutics stock traded down $0.30 during mid-day trading on Monday, reaching $14.25. The stock had a trading volume of 142,366 shares, compared to its average volume of 413,118. The company has a market capitalization of $386.10 million, a price-to-earnings ratio of -6.30 and a beta of 2.96. Arcturus Therapeutics has a one year low of $13.58 and a one year high of $45.00. The company has a 50-day moving average price of $16.95 and a two-hundred day moving average price of $18.55.

Arcturus Therapeutics (NASDAQ:ARCT) last announced its quarterly earnings data on Thursday, March 6th. The biotechnology company reported ($1.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.78). Arcturus Therapeutics had a negative return on equity of 22.39% and a negative net margin of 36.39%. The firm had revenue of $22.77 million during the quarter, compared to analysts’ expectations of $44.64 million. On average, equities research analysts anticipate that Arcturus Therapeutics will post -2.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arcturus Therapeutics

Hedge funds have recently made changes to their positions in the business. Sumitomo Mitsui Trust Group Inc. boosted its stake in Arcturus Therapeutics by 45.6% in the 3rd 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. Vanguard Group Inc. grew its stake in Arcturus Therapeutics by 6.8% during the fourth quarter. Vanguard Group Inc. now owns 1,684,561 shares of the biotechnology company’s stock valued at $28,587,000 after acquiring an additional 107,635 shares in the last quarter. Schonfeld Strategic Advisors LLC lifted its stake in Arcturus Therapeutics by 129.7% in the 4th 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 in the last quarter. Woodline Partners LP boosted its holdings in shares of Arcturus Therapeutics by 3.5% during the 4th quarter. Woodline Partners LP now owns 806,912 shares of the biotechnology company’s stock valued at $13,693,000 after purchasing an additional 26,956 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Arcturus Therapeutics by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 554,984 shares of the biotechnology company’s stock valued at $9,421,000 after purchasing an additional 3,186 shares during the last quarter. Institutional investors own 94.54% of the company’s stock.

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.