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

Arcturus Therapeutics (NASDAQ:ARCT)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a research note issued on Tuesday,Benzinga reports. They currently have a $63.00 price target on the biotechnology company’s stock. HC Wainwright’s price objective suggests a potential upside of 232.45% from the company’s previous close.

Separately, Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcturus Therapeutics in a research report on Monday, December 16th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $66.75.

Arcturus Therapeutics Stock Down 9.0 %

Shares of ARCT opened at $18.95 on Tuesday. The company has a 50 day moving average of $17.59 and a two-hundred day moving average of $20.21. The company has a market cap of $513.30 million, a price-to-earnings ratio of -8.54 and a beta of 2.63. Arcturus Therapeutics has a twelve month low of $14.30 and a twelve month high of $45.00.

Arcturus Therapeutics (NASDAQ:ARCT) last announced its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.70) by $0.44. The business had revenue of $41.67 million during 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 previous year, the business posted ($0.61) EPS. On average, sell-side analysts expect that Arcturus Therapeutics will post -2.31 EPS for the current year.

Insider Transactions at Arcturus Therapeutics

In related news, COO Pad Chivukula sold 12,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $20.76, for a total transaction of $249,120.00. Following the transaction, the chief operating officer now directly owns 435,334 shares in the company, valued at $9,037,533.84. This trade represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 15.30% of the company’s stock.

Hedge Funds Weigh In On Arcturus Therapeutics

Several large investors have recently bought and sold shares of ARCT. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Arcturus Therapeutics by 45.6% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,275,715 shares of the biotechnology company’s stock valued at $52,819,000 after acquiring an additional 712,650 shares in the last quarter. ARK Investment Management LLC grew its stake in Arcturus Therapeutics by 6.9% in the third quarter. ARK Investment Management LLC now owns 2,101,038 shares of the biotechnology company’s stock valued at $48,765,000 after purchasing an additional 136,074 shares in the last quarter. Millennium Management LLC raised its stake in shares of Arcturus Therapeutics by 250.1% during the 2nd quarter. Millennium Management LLC now owns 555,024 shares of the biotechnology company’s stock worth $13,515,000 after purchasing an additional 396,505 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Arcturus Therapeutics by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 551,798 shares of the biotechnology company’s stock valued at $12,810,000 after buying an additional 5,789 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Arcturus Therapeutics by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 197,622 shares of the biotechnology company’s stock valued at $4,587,000 after buying an additional 3,224 shares in the last quarter. Institutional investors and hedge funds 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.