Arcturus Therapeutics Holdings Inc. Forecasted to Post FY2024 Earnings of ($4.81) Per Share (NASDAQ:ARCT)

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) – Investment analysts at Cantor Fitzgerald lifted their FY2024 earnings per share (EPS) estimates for shares of Arcturus Therapeutics in a report released on Tuesday, August 6th. Cantor Fitzgerald analyst P. Stavropoulos now anticipates that the biotechnology company will post earnings per share of ($4.81) for the year, up from their previous estimate of ($6.52). Cantor Fitzgerald has a “Overweight” rating on the stock. The consensus estimate for Arcturus Therapeutics’ current full-year earnings is ($4.74) per share.

Arcturus Therapeutics (NASDAQ:ARCT) last issued its earnings results on Monday, August 5th. The biotechnology company reported ($0.64) EPS for the quarter, topping analysts’ consensus estimates of ($1.85) by $1.21. Arcturus Therapeutics had a negative return on equity of 37.61% and a negative net margin of 81.59%. The firm had revenue of $49.86 million for the quarter, compared to the consensus estimate of $21.00 million. During the same quarter in the prior year, the business earned ($1.98) earnings per share.

ARCT has been the topic of a number of other research reports. William Blair restated an “outperform” rating on shares of Arcturus Therapeutics in a research note on Thursday, May 23rd. Canaccord Genuity Group dropped their price objective on Arcturus Therapeutics from $87.00 to $86.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Finally, HC Wainwright upped their target price on Arcturus Therapeutics from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $68.20.

Arcturus Therapeutics Stock Down 3.8 %

Shares of ARCT traded down $0.71 during mid-day trading on Thursday, reaching $18.08. The company had a trading volume of 466,267 shares, compared to its average volume of 515,070. Arcturus Therapeutics has a 52-week low of $17.52 and a 52-week high of $45.00. The stock has a market capitalization of $486.93 million, a P/E ratio of -4.60 and a beta of 2.64. The stock has a 50 day moving average of $26.18 and a two-hundred day moving average of $30.75.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. purchased a new position in Arcturus Therapeutics in the 1st quarter valued at $40,000. AJOVista LLC purchased a new position in Arcturus Therapeutics in the 4th quarter valued at $65,000. Quest Partners LLC purchased a new position in Arcturus Therapeutics in the 4th quarter valued at $67,000. CANADA LIFE ASSURANCE Co lifted its holdings in Arcturus Therapeutics by 10.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 4,492 shares of the biotechnology company’s stock valued at $152,000 after purchasing an additional 428 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its holdings in Arcturus Therapeutics by 63.8% in the 1st quarter. Public Employees Retirement System of Ohio now owns 4,620 shares of the biotechnology company’s stock valued at $156,000 after purchasing an additional 1,800 shares in the last quarter. Hedge funds and other institutional investors own 94.54% of the company’s stock.

Insider Activity

In other 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 transaction, the chief operating officer now owns 447,448 shares in the company, valued at approximately $17,902,394.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 13.80% 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.