Arcturus Therapeutics (NASDAQ:ARCT) Shares Up 6.6%

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT)’s stock price rose 6.6% on Tuesday . The stock traded as high as $21.99 and last traded at $21.96. Approximately 108,408 shares changed hands during trading, a decline of 78% from the average daily volume of 491,629 shares. The stock had previously closed at $20.61.

Analyst Upgrades and Downgrades

ARCT has been the topic of several recent research reports. Leerink Partnrs upgraded Arcturus Therapeutics to a “strong-buy” rating in a report on Monday, August 12th. Leerink Partners initiated coverage on Arcturus Therapeutics in a research report on Monday, August 12th. They set an “outperform” rating and a $70.00 price target on the stock. HC Wainwright raised their target price on Arcturus Therapeutics from $60.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Cantor Fitzgerald restated an “overweight” rating on shares of Arcturus Therapeutics in a research report on Monday, September 9th. Finally, William Blair reaffirmed an “outperform” rating on shares of Arcturus Therapeutics in a research note on Thursday, May 23rd. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $71.40.

Arcturus Therapeutics Stock Up 2.3 %

The company has a market capitalization of $566.11 million, a price-to-earnings ratio of -5.26 and a beta of 2.60. The stock has a fifty day moving average price of $21.26 and a two-hundred day moving average price of $27.38.

Arcturus Therapeutics (NASDAQ:ARCT) last announced its quarterly earnings results on Monday, August 5th. The biotechnology company reported ($0.64) EPS for the quarter, topping the consensus estimate of ($1.85) by $1.21. Arcturus Therapeutics had a negative return on equity of 25.47% and a negative net margin of 41.21%. The company had revenue of $49.86 million during the quarter, compared to analyst estimates of $21.00 million. During the same period in the prior year, the firm posted ($1.98) earnings per share. As a group, research analysts forecast that Arcturus Therapeutics Holdings Inc. will post -2.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arcturus Therapeutics

Several hedge funds have recently modified their holdings of ARCT. Millennium Management LLC lifted its position in shares of Arcturus Therapeutics by 250.1% in the second 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 during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in Arcturus Therapeutics by 22.4% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,563,065 shares of the biotechnology company’s stock worth $38,061,000 after acquiring an additional 286,546 shares during the last quarter. ARK Investment Management LLC lifted its holdings in Arcturus Therapeutics by 16.3% during the 2nd quarter. ARK Investment Management LLC now owns 1,964,964 shares of the biotechnology company’s stock worth $47,847,000 after buying an additional 275,315 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Arcturus Therapeutics by 11.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,088,930 shares of the biotechnology company’s stock valued at $34,336,000 after purchasing an additional 115,087 shares during the period. Finally, Nordea Investment Management AB acquired a new position in shares of Arcturus Therapeutics in the 1st quarter valued at $1,846,000. 94.54% of the stock is currently 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.