Arcturus Therapeutics (NASDAQ:ARCT) Stock Price Down 8.6% – Here’s What Happened

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT)’s stock price fell 8.6% during trading on Wednesday . The company traded as low as $19.03 and last traded at $19.03. 113,147 shares traded hands during trading, a decline of 75% from the average session volume of 454,586 shares. The stock had previously closed at $20.83.

Wall Street Analyst Weigh In

ARCT has been the subject of a number of research reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcturus Therapeutics in a research note on Monday, December 16th. HC Wainwright reaffirmed a “buy” rating and issued a $63.00 target price on shares of Arcturus Therapeutics in a research report on Tuesday. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $66.75.

Arcturus Therapeutics Stock Performance

The stock has a market cap of $521.42 million, a PE ratio of -8.67 and a beta of 2.63. The firm’s 50-day moving average is $17.59 and its 200 day moving average is $20.21.

Arcturus Therapeutics (NASDAQ:ARCT) last released its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.70) by $0.44. The business had revenue of $41.67 million during 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 business earned ($0.61) earnings per share. On average, sell-side analysts predict that Arcturus Therapeutics Holdings Inc. will post -2.31 EPS for the current fiscal year.

Insider Transactions 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 stock was sold at an average price of $20.76, for a total value of $249,120.00. Following the sale, the chief operating officer now owns 435,334 shares of the company’s stock, valued at approximately $9,037,533.84. The trade was a 2.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 15.30% of the company’s stock.

Institutional Trading of Arcturus Therapeutics

Several hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp lifted its stake in shares of Arcturus Therapeutics by 3.1% in the second quarter. Bank of New York Mellon Corp now owns 119,181 shares of the biotechnology company’s stock valued at $2,902,000 after purchasing an additional 3,578 shares during the period. Quest Partners LLC lifted its position in shares of Arcturus Therapeutics by 3,283.5% during the 2nd quarter. Quest Partners LLC now owns 3,688 shares of the biotechnology company’s stock valued at $90,000 after acquiring an additional 3,579 shares during the period. XTX Topco Ltd purchased a new stake in shares of Arcturus Therapeutics during the 2nd quarter worth approximately $596,000. Point72 DIFC Ltd acquired a new stake in shares of Arcturus Therapeutics in the 2nd quarter worth approximately $188,000. Finally, Squarepoint Ops LLC purchased a new position in Arcturus Therapeutics in the 2nd quarter valued at approximately $718,000. 94.54% of the stock is owned by institutional investors and hedge funds.

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.