Wellington Management Group LLP Lowers Stake in Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT)

Wellington Management Group LLP cut its holdings in Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) by 73.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 96,294 shares of the biotechnology company’s stock after selling 264,455 shares during the quarter. Wellington Management Group LLP owned about 0.36% of Arcturus Therapeutics worth $2,235,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in ARCT. Sumitomo Mitsui Trust Group Inc. lifted its holdings 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. ARK Investment Management LLC lifted its stake in shares of Arcturus Therapeutics by 6.9% in the 3rd quarter. ARK Investment Management LLC now owns 2,101,038 shares of the biotechnology company’s stock worth $48,765,000 after acquiring an additional 136,074 shares during the period. Millennium Management LLC boosted its holdings in shares of Arcturus Therapeutics by 250.1% in the second quarter. Millennium Management LLC now owns 555,024 shares of the biotechnology company’s stock valued at $13,515,000 after acquiring an additional 396,505 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Arcturus Therapeutics by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 197,622 shares of the biotechnology company’s stock valued at $4,587,000 after acquiring an additional 3,224 shares in the last quarter. Finally, Royce & Associates LP increased its stake in shares of Arcturus Therapeutics by 18.3% during the third quarter. Royce & Associates LP now owns 155,803 shares of the biotechnology company’s stock worth $3,616,000 after acquiring an additional 24,085 shares during the period. 94.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ARCT shares. Cantor Fitzgerald restated an “overweight” rating on shares of Arcturus Therapeutics in a research report on Monday. HC Wainwright reissued a “buy” rating and issued a $63.00 price target on shares of Arcturus Therapeutics in a report on Tuesday. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $66.75.

Arcturus Therapeutics Trading Down 5.8 %

Shares of ARCT opened at $14.82 on Thursday. Arcturus Therapeutics Holdings Inc. has a twelve month low of $14.35 and a twelve month high of $45.00. The firm has a market capitalization of $401.43 million, a P/E ratio of -6.68 and a beta of 2.62. The firm’s 50-day moving average is $18.48 and its two-hundred day moving average is $21.84.

Arcturus Therapeutics (NASDAQ:ARCT) last released 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 return on equity of 22.39% and a negative net margin of 36.39%. During the same quarter in the prior year, the firm posted ($0.61) EPS. Analysts predict that Arcturus Therapeutics Holdings Inc. will post -2.31 EPS for the current year.

Insider Activity

In other news, COO Pad Chivukula sold 12,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 435,334 shares of the company’s stock, valued at $9,037,533.84. This trade represents a 2.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 15.30% of the company’s stock.

Arcturus Therapeutics 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.