HC Wainwright Reiterates “Buy” Rating for Arcturus Therapeutics (NASDAQ:ARCT)

Arcturus Therapeutics (NASDAQ:ARCT)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research note issued on Tuesday,Benzinga reports. They currently have a $63.00 target price on the biotechnology company’s stock. HC Wainwright’s price target would indicate a potential upside of 325.10% from the stock’s previous close.

Separately, Cantor Fitzgerald restated an “overweight” rating on shares of Arcturus Therapeutics in a research report on Monday. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $66.75.

Arcturus Therapeutics Stock Down 5.8 %

NASDAQ ARCT opened at $14.82 on Tuesday. The stock has a market capitalization of $401.43 million, a P/E ratio of -6.68 and a beta of 2.62. Arcturus Therapeutics has a 52-week low of $14.35 and a 52-week high of $45.00. The firm has a 50-day moving average price of $18.62 and a 200 day moving average price of $21.89.

Arcturus Therapeutics (NASDAQ:ARCT) last posted its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.44. The business had revenue of $41.67 million for the quarter, compared to analysts’ expectations of $49.16 million. Arcturus Therapeutics had a negative net margin of 36.39% and a negative return on equity of 22.39%. During the same period in the prior year, the company posted ($0.61) EPS. On average, equities research analysts expect that Arcturus Therapeutics will post -2.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Arcturus Therapeutics

In related news, COO Pad Chivukula sold 12,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $20.76, for a total transaction of $249,120.00. Following the completion of the sale, the chief operating officer now directly owns 435,334 shares of the company’s stock, valued at approximately $9,037,533.84. This represents a 2.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 15.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Arcturus Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. nVerses Capital LLC purchased a new position in shares of Arcturus Therapeutics in the third quarter valued at $42,000. Quest Partners LLC boosted its stake in shares of Arcturus Therapeutics by 3,283.5% during the 2nd quarter. Quest Partners LLC now owns 3,688 shares of the biotechnology company’s stock valued at $90,000 after buying an additional 3,579 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of Arcturus Therapeutics by 64.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 5,201 shares of the biotechnology company’s stock worth $121,000 after buying an additional 2,038 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Arcturus Therapeutics in the second quarter worth $142,000. Finally, Point72 DIFC Ltd bought a new position in Arcturus Therapeutics during the 2nd quarter valued at $188,000. Hedge funds and other institutional investors 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.