Wells Fargo & Company Issues Pessimistic Forecast for Arcturus Therapeutics (NASDAQ:ARCT) Stock Price

Arcturus Therapeutics (NASDAQ:ARCT) had its price objective dropped by equities researchers at Wells Fargo & Company from $58.00 to $50.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the biotechnology company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 243.64% from the stock’s previous close.

ARCT has been the subject of a number of other research reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcturus Therapeutics in a report on Monday, December 16th. HC Wainwright reaffirmed a “buy” rating and issued a $63.00 target price on shares of Arcturus Therapeutics in a report on Friday, February 14th. Finally, BTIG Research started coverage on shares of Arcturus Therapeutics in a research report on Tuesday, January 28th. They set a “buy” rating and a $41.00 price target for the company. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $61.40.

Arcturus Therapeutics Trading Down 8.9 %

NASDAQ ARCT opened at $14.55 on Friday. The stock has a market capitalization of $394.12 million, a price-to-earnings ratio of -6.55 and a beta of 2.96. The business’s 50 day moving average is $16.95 and its two-hundred day moving average is $18.57. Arcturus Therapeutics has a 12-month low of $14.11 and a 12-month high of $45.00.

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). The business had revenue of $22.77 million for the quarter, compared to analyst estimates of $44.64 million. Arcturus Therapeutics had a negative return on equity of 22.39% and a negative net margin of 36.39%. Equities analysts forecast that Arcturus Therapeutics will post -2.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arcturus Therapeutics

Several hedge funds have recently added to or reduced their stakes in ARCT. Woodline Partners LP grew its position in shares of Arcturus Therapeutics by 3.5% in the fourth 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. Two Sigma Investments LP lifted its stake in Arcturus Therapeutics by 60.9% in the 4th quarter. Two Sigma Investments LP now owns 27,560 shares of the biotechnology company’s stock valued at $468,000 after buying an additional 10,430 shares in the last quarter. Sherbrooke Park Advisers LLC acquired a new stake in Arcturus Therapeutics during the 4th quarter valued at $200,000. MPM Bioimpact LLC increased its position in Arcturus Therapeutics by 109.5% during the fourth quarter. MPM Bioimpact LLC now owns 459,943 shares of the biotechnology company’s stock worth $7,805,000 after buying an additional 240,435 shares in the last quarter. Finally, J. Goldman & Co LP purchased a new position in Arcturus Therapeutics during the fourth quarter worth $5,024,000. 94.54% of the stock is currently owned by hedge funds and other institutional investors.

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.