Arcturus Therapeutics (NASDAQ:ARCT) Stock Price Down 4.2%

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) dropped 4.2% during mid-day trading on Tuesday . The stock traded as low as $22.65 and last traded at $22.67. Approximately 54,551 shares were traded during trading, a decline of 89% from the average daily volume of 516,126 shares. The stock had previously closed at $23.66.

Analyst Ratings Changes

ARCT has been the topic of several research reports. William Blair restated an “outperform” rating on shares of Arcturus Therapeutics in a research note on Thursday, May 23rd. HC Wainwright restated a “buy” rating and set a $60.00 price objective on shares of Arcturus Therapeutics in a research note on Tuesday. Finally, Canaccord Genuity Group cut their price objective on Arcturus Therapeutics from $87.00 to $86.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $64.86.

Arcturus Therapeutics Price Performance

The company has a market capitalization of $590.57 million, a P/E ratio of -5.61 and a beta of 2.65. The company has a fifty day moving average price of $29.89 and a 200 day moving average price of $32.50.

Arcturus Therapeutics (NASDAQ:ARCT) last posted its earnings results on Wednesday, May 8th. The biotechnology company reported ($1.00) EPS for the quarter, beating the consensus estimate of ($1.17) by $0.17. The company had revenue of $38.01 million during the quarter, compared to analyst estimates of $22.12 million. Arcturus Therapeutics had a negative return on equity of 37.61% and a negative net margin of 81.59%. On average, equities research analysts predict that Arcturus Therapeutics Holdings Inc. will post -4.39 earnings per share for the current fiscal year.

Insider Activity

In related 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 value of $1,040,260.00. Following the completion of the transaction, the chief operating officer now directly owns 447,448 shares of the company’s stock, valued at approximately $17,902,394.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 13.80% of the company’s stock.

Hedge Funds Weigh In On Arcturus Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC grew its holdings in Arcturus Therapeutics by 1.7% in the 4th quarter. SummerHaven Investment Management LLC now owns 22,704 shares of the biotechnology company’s stock worth $716,000 after buying an additional 378 shares in the last quarter. CANADA LIFE ASSURANCE Co grew 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 worth $152,000 after buying an additional 428 shares in the last quarter. Formidable Asset Management LLC boosted its stake in Arcturus Therapeutics by 3.3% during the 4th quarter. Formidable Asset Management LLC now owns 15,550 shares of the biotechnology company’s stock valued at $490,000 after purchasing an additional 500 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Arcturus Therapeutics by 3.0% during the 4th 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 in the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted 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. 94.54% of the stock is owned by institutional investors.

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.