Arcturus Therapeutics’ (ARCT) Buy Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Arcturus Therapeutics (NASDAQ:ARCT) in a research report report published on Tuesday,Benzinga reports. HC Wainwright currently has a $63.00 price objective on the biotechnology company’s stock.

Separately, Cantor Fitzgerald restated an “overweight” rating on shares of Arcturus Therapeutics in a research note on Monday, December 16th. Six investment 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 company presently has a consensus rating of “Buy” and an average price target of $66.75.

Arcturus Therapeutics Trading Down 9.0 %

Shares of Arcturus Therapeutics stock opened at $18.95 on Tuesday. The business has a 50-day moving average price of $17.60 and a two-hundred day moving average price of $20.20. Arcturus Therapeutics has a 1-year low of $14.30 and a 1-year high of $45.00. The company has a market cap of $513.30 million, a P/E ratio of -8.54 and a beta of 2.63.

Arcturus Therapeutics (NASDAQ:ARCT) last issued 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 firm had revenue of $41.67 million during the quarter, compared to the consensus estimate 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 period last year, the business posted ($0.61) EPS. Equities research analysts forecast that Arcturus Therapeutics will post -2.31 EPS for the current fiscal year.

Insider Buying and Selling at Arcturus Therapeutics

In other Arcturus Therapeutics news, COO Pad Chivukula sold 12,000 shares of Arcturus Therapeutics 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 transaction, the chief operating officer now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 15.30% of the company’s stock.

Hedge Funds Weigh In On Arcturus Therapeutics

Several hedge funds have recently modified their holdings of ARCT. Sumitomo Mitsui Trust Group Inc. lifted its position 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 worth $52,819,000 after buying an additional 712,650 shares in the last quarter. Millennium Management LLC lifted its position 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 buying an additional 396,505 shares in the last quarter. Empire Life Investments Inc. bought a new position in shares of Arcturus Therapeutics during the 3rd quarter worth approximately $3,498,000. ARK Investment Management LLC lifted its position in shares of Arcturus Therapeutics by 6.9% during the 3rd quarter. ARK Investment Management LLC now owns 2,101,038 shares of the biotechnology company’s stock worth $48,765,000 after buying an additional 136,074 shares in the last quarter. Finally, PDT Partners LLC bought a new position in shares of Arcturus Therapeutics during the 3rd quarter worth approximately $1,744,000. Institutional investors 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.