Arcturus Therapeutics (NASDAQ:ARCT) Stock Passes Below Two Hundred Day Moving Average – Here’s What Happened

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $24.69 and traded as low as $17.66. Arcturus Therapeutics shares last traded at $17.73, with a volume of 330,986 shares trading hands.

Analyst Ratings Changes

ARCT has been the topic of several recent research reports. Leerink Partners initiated coverage on shares of Arcturus Therapeutics in a report on Monday, August 12th. They set an “outperform” rating and a $70.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcturus Therapeutics in a report on Monday, September 9th. Leerink Partnrs raised shares of Arcturus Therapeutics to a “strong-buy” rating in a research note on Monday, August 12th. Finally, HC Wainwright restated a “buy” rating and set a $63.00 price target on shares of Arcturus Therapeutics in a research report on Tuesday, October 1st. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Arcturus Therapeutics currently has an average rating of “Buy” and an average price target of $71.40.

Arcturus Therapeutics Trading Down 3.6 %

The company has a market cap of $477.50 million, a P/E ratio of -6.90 and a beta of 2.61. The stock’s 50 day moving average is $21.01 and its 200-day moving average is $24.69.

Arcturus Therapeutics (NASDAQ:ARCT) last posted its earnings results on Monday, August 5th. The biotechnology company reported ($0.64) earnings per share (EPS) 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 business had revenue of $49.86 million for the quarter, compared to analysts’ expectations of $21.00 million. During the same quarter in the prior year, the business earned ($1.98) EPS. As a group, sell-side analysts forecast that Arcturus Therapeutics Holdings Inc. will post -2.6 EPS for the current year.

Insider Buying and Selling at Arcturus Therapeutics

In other Arcturus Therapeutics news, COO Pad Chivukula sold 12,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $20.76, for a total transaction of $249,120.00. Following the completion of the sale, the chief operating officer now directly owns 435,334 shares of the company’s stock, valued at approximately $9,037,533.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 15.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arcturus Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ARK Investment Management LLC boosted its position in shares of Arcturus Therapeutics by 6.9% in the third quarter. ARK Investment Management LLC now owns 2,101,038 shares of the biotechnology company’s stock worth $48,765,000 after purchasing an additional 136,074 shares during the period. Empire Life Investments Inc. purchased a new position in shares of Arcturus Therapeutics in the 3rd quarter worth $3,498,000. China Universal Asset Management Co. Ltd. increased its stake in Arcturus Therapeutics by 64.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 5,201 shares of the biotechnology company’s stock worth $121,000 after acquiring an additional 2,038 shares during the last quarter. nVerses Capital LLC bought a new position in shares of Arcturus Therapeutics during the 3rd quarter valued at approximately $42,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Arcturus Therapeutics in the third quarter valued at $191,000. 94.54% of the stock is owned by hedge funds and other 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.