Arcturus Therapeutics (NASDAQ:ARCT) Stock Price Down 4.2%

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT)’s stock price was down 4.2% during mid-day trading on Tuesday . The stock traded as low as $22.65 and last traded at $22.67. Approximately 54,551 shares changed hands during trading, a decline of 89% from the average daily volume of 516,126 shares. The stock had previously closed at $23.66.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ARCT shares. HC Wainwright reaffirmed a “buy” rating and set a $60.00 price objective on shares of Arcturus Therapeutics in a research report on Tuesday. William Blair reissued an “outperform” rating on shares of Arcturus Therapeutics in a research report on Thursday, May 23rd. Finally, Canaccord Genuity Group decreased their target price on 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 equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $64.86.

Arcturus Therapeutics Stock Performance

The stock has a market capitalization of $590.57 million, a price-to-earnings ratio of -5.61 and a beta of 2.65. The business has a 50-day moving average of $29.89 and a 200-day moving average of $32.50.

Arcturus Therapeutics (NASDAQ:ARCT) last posted its quarterly earnings data on Wednesday, May 8th. The biotechnology company reported ($1.00) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.17) by $0.17. Arcturus Therapeutics had a negative return on equity of 37.61% and a negative net margin of 81.59%. The company had revenue of $38.01 million during the quarter, compared to analysts’ expectations of $22.12 million. On average, research analysts predict that Arcturus Therapeutics Holdings Inc. will post -4.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Arcturus Therapeutics news, COO Pad Chivukula sold 26,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 447,448 shares of the company’s stock, valued at approximately $17,902,394.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.80% of the stock is owned by insiders.

Institutional Trading of Arcturus Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. acquired a new stake in Arcturus Therapeutics during the 1st quarter worth approximately $40,000. AJOVista LLC acquired a new stake in shares of Arcturus Therapeutics in the 4th quarter valued at approximately $65,000. Quest Partners LLC acquired a new stake in shares of Arcturus Therapeutics in the 4th quarter valued at approximately $67,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Arcturus Therapeutics in the 4th quarter valued at approximately $89,000. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in shares of Arcturus Therapeutics by 352.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,089 shares of the biotechnology company’s stock valued at $97,000 after buying an additional 2,406 shares during the period. 94.54% of the stock is owned by institutional investors and hedge funds.

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.