Arcturus Therapeutics (NASDAQ:ARCT) Shares Gap Up to $18.08

Shares of Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) gapped up before the market opened on Monday . The stock had previously closed at $18.08, but opened at $19.19. Arcturus Therapeutics shares last traded at $18.92, with a volume of 118,100 shares.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. SVB Leerink assumed coverage on Arcturus Therapeutics in a research report on Monday. They issued an “outperform” rating and a $70.00 target price on the stock. HC Wainwright increased their price target on shares of Arcturus Therapeutics from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcturus Therapeutics in a report on Tuesday, August 6th. William Blair reissued an “outperform” rating on shares of Arcturus Therapeutics in a report on Thursday, May 23rd. Finally, Canaccord Genuity Group lowered their target price on shares of Arcturus Therapeutics from $87.00 to $86.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Arcturus Therapeutics currently has an average rating of “Buy” and a consensus price target of $68.50.

Arcturus Therapeutics Trading Down 2.3 %

The firm’s 50 day moving average is $24.89 and its two-hundred day moving average is $30.41. The stock has a market cap of $517.36 million, a price-to-earnings ratio of -4.91 and a beta of 2.64.

Arcturus Therapeutics (NASDAQ:ARCT) last posted its quarterly earnings results on Monday, August 5th. The biotechnology company reported ($0.64) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.85) by $1.21. Arcturus Therapeutics had a negative net margin of 81.59% and a negative return on equity of 37.61%. The company had revenue of $49.86 million for the quarter, compared to the consensus estimate of $21.00 million. During the same quarter last year, the firm posted ($1.98) earnings per share. As a group, equities analysts expect that Arcturus Therapeutics Holdings Inc. will post -4.74 EPS for the current fiscal year.

Insider Activity at Arcturus Therapeutics

In related news, COO Pad Chivukula sold 26,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $40.01, for a total transaction of $1,040,260.00. Following the completion of the sale, the chief operating officer now owns 447,448 shares of the company’s stock, valued at approximately $17,902,394.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 13.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Arcturus Therapeutics

Large investors have recently made changes to their positions in the business. SummerHaven Investment Management LLC grew its position in Arcturus Therapeutics by 1.7% in the fourth quarter. SummerHaven Investment Management LLC now owns 22,704 shares of the biotechnology company’s stock valued at $716,000 after acquiring an additional 378 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its stake in Arcturus Therapeutics by 10.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 4,492 shares of the biotechnology company’s stock worth $152,000 after buying an additional 428 shares during the period. Formidable Asset Management LLC lifted its holdings in Arcturus Therapeutics by 3.3% in the 4th quarter. Formidable Asset Management LLC now owns 15,550 shares of the biotechnology company’s stock worth $490,000 after buying an additional 500 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Arcturus Therapeutics by 3.0% in the fourth quarter. BNP Paribas Financial Markets now owns 23,259 shares of the biotechnology company’s stock valued at $733,000 after purchasing an additional 682 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its stake in Arcturus Therapeutics by 2.5% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 31,930 shares of the biotechnology company’s stock valued at $1,078,000 after purchasing an additional 778 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.