Wells Fargo & Company Cuts Arcturus Therapeutics (NASDAQ:ARCT) Price Target to $50.00

Arcturus Therapeutics (NASDAQ:ARCT) had its price objective reduced by Wells Fargo & Company from $58.00 to $50.00 in a report released on Friday morning,Benzinga reports. They currently have an overweight rating on the biotechnology company’s stock.

Other equities analysts have also recently issued reports about the stock. BTIG Research started coverage on shares of Arcturus Therapeutics in a research report on Tuesday, January 28th. They issued a “buy” rating and a $41.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcturus Therapeutics in a report on Monday, December 16th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $63.00 price target on shares of Arcturus Therapeutics in a report on Friday, February 14th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $61.40.

Arcturus Therapeutics Trading Down 8.9 %

Shares of NASDAQ:ARCT opened at $14.55 on Friday. The firm has a 50 day moving average of $16.95 and a 200-day moving average of $18.55. The stock has a market capitalization of $394.12 million, a PE ratio of -6.55 and a beta of 2.96. Arcturus Therapeutics has a 12 month low of $14.11 and a 12 month high of $45.00.

Arcturus Therapeutics (NASDAQ:ARCT) last issued its earnings results on Thursday, March 6th. The biotechnology company reported ($1.11) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.78). The firm had revenue of $22.77 million during the quarter, compared to analyst estimates of $44.64 million. Arcturus Therapeutics had a negative net margin of 36.39% and a negative return on equity of 22.39%. On average, research analysts predict that Arcturus Therapeutics will post -2.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Arcturus Therapeutics

A number of institutional investors have recently added to or reduced their stakes in ARCT. Sumitomo Mitsui Trust Group Inc. grew its holdings in 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 acquiring an additional 712,650 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in Arcturus Therapeutics during the 4th quarter worth approximately $9,312,000. Schonfeld Strategic Advisors LLC grew its holdings in Arcturus Therapeutics by 129.7% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 849,081 shares of the biotechnology company’s stock worth $14,409,000 after acquiring an additional 479,482 shares during the last quarter. J. Goldman & Co LP bought a new stake in Arcturus Therapeutics during the 4th quarter worth approximately $5,024,000. Finally, MPM Bioimpact LLC grew its holdings in Arcturus Therapeutics by 109.5% during the 4th quarter. MPM Bioimpact LLC now owns 459,943 shares of the biotechnology company’s stock worth $7,805,000 after acquiring an additional 240,435 shares during the last quarter. 94.54% of the stock is owned by institutional investors.

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.