Point72 Asset Management L.P. Decreases Stake in Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT)

Point72 Asset Management L.P. lessened its holdings in shares of Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) by 27.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 244,154 shares of the biotechnology company’s stock after selling 91,224 shares during the period. Point72 Asset Management L.P.’s holdings in Arcturus Therapeutics were worth $5,945,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ARCT. Millennium Management LLC boosted its holdings in shares of Arcturus Therapeutics by 250.1% during the 2nd quarter. Millennium Management LLC now owns 555,024 shares of the biotechnology company’s stock worth $13,515,000 after purchasing an additional 396,505 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Arcturus Therapeutics by 22.4% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,563,065 shares of the biotechnology company’s stock worth $38,061,000 after buying an additional 286,546 shares in the last quarter. ARK Investment Management LLC boosted its stake in Arcturus Therapeutics by 16.3% during the second 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 during the last quarter. Nordea Investment Management AB purchased a new stake in Arcturus Therapeutics in the 1st quarter valued at $1,846,000. Finally, Granahan Investment Management LLC increased its stake in shares of Arcturus Therapeutics by 12.9% in the 4th quarter. Granahan Investment Management LLC now owns 450,366 shares of the biotechnology company’s stock worth $14,200,000 after acquiring an additional 51,504 shares during the last quarter. Institutional investors and hedge funds own 94.54% of the company’s stock.

Arcturus Therapeutics Price Performance

Shares of ARCT opened at $25.25 on Wednesday. The firm has a 50-day simple moving average of $20.90 and a two-hundred day simple moving average of $26.41. Arcturus Therapeutics Holdings Inc. has a 1-year low of $17.52 and a 1-year high of $45.00. The stock has a market cap of $680.03 million, a PE ratio of -6.46 and a beta of 2.60.

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. HC Wainwright reiterated a “buy” rating and set a $63.00 price target on shares of Arcturus Therapeutics in a report on Tuesday. Leerink Partnrs raised shares of Arcturus Therapeutics to a “strong-buy” rating in a research note on Monday, August 12th. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcturus Therapeutics in a research note on Monday, September 9th. Finally, Leerink Partners assumed coverage on shares of Arcturus Therapeutics in a research report on Monday, August 12th. They set an “outperform” rating and a $70.00 price target on the stock. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $71.40.

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.