Arcturus Therapeutics (NASDAQ:ARCT) Shares Up 5.5%

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT)’s stock price rose 5.5% during mid-day trading on Monday . The stock traded as high as $23.30 and last traded at $23.25. Approximately 83,366 shares traded hands during trading, a decline of 83% from the average daily volume of 486,737 shares. The stock had previously closed at $22.03.

Analysts Set New Price Targets

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

Arcturus Therapeutics Trading Up 6.1 %

The firm’s 50 day moving average is $20.91 and its two-hundred day moving average is $26.50. The stock has a market cap of $629.40 million, a price-to-earnings ratio of -5.91 and a beta of 2.60.

Arcturus Therapeutics (NASDAQ:ARCT) last posted its quarterly earnings results on Monday, August 5th. The biotechnology company reported ($0.64) EPS for the quarter, beating the consensus estimate of ($1.85) by $1.21. The company had revenue of $49.86 million during the quarter, compared to analysts’ expectations of $21.00 million. Arcturus Therapeutics had a negative return on equity of 25.47% and a negative net margin of 41.21%. During the same quarter in the previous year, the business earned ($1.98) EPS. As a group, equities analysts expect that Arcturus Therapeutics Holdings Inc. will post -2.6 EPS for the current fiscal year.

Institutional Trading of Arcturus Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARCT. Millennium Management LLC grew its holdings in Arcturus Therapeutics by 250.1% in the 2nd quarter. Millennium Management LLC now owns 555,024 shares of the biotechnology company’s stock valued at $13,515,000 after buying an additional 396,505 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of 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 purchasing an additional 286,546 shares during the period. ARK Investment Management LLC increased its position 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 purchasing an additional 275,315 shares in the last quarter. Nordea Investment Management AB acquired a new stake in Arcturus Therapeutics during the 1st quarter worth approximately $1,846,000. Finally, Granahan Investment Management LLC raised its holdings in Arcturus Therapeutics by 12.9% in the fourth quarter. Granahan Investment Management LLC now owns 450,366 shares of the biotechnology company’s stock valued at $14,200,000 after buying an additional 51,504 shares during the period. Hedge funds and other institutional investors own 94.54% of the company’s stock.

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.