Sumitomo Mitsui Trust Group Inc. Purchases 712,650 Shares of Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT)

Sumitomo Mitsui Trust Group Inc. increased its position in Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) by 45.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,275,715 shares of the biotechnology company’s stock after acquiring an additional 712,650 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.08% of Arcturus Therapeutics worth $52,819,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ARCT. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Arcturus Therapeutics by 22.4% in 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 purchasing an additional 286,546 shares during the period. Empire Life Investments Inc. bought a new stake in Arcturus Therapeutics during the 3rd quarter valued at approximately $3,498,000. XTX Topco Ltd acquired a new stake in Arcturus Therapeutics in the 2nd quarter valued at approximately $596,000. Squarepoint Ops LLC bought a new position in Arcturus Therapeutics in the 2nd quarter worth approximately $718,000. Finally, Tidal Investments LLC acquired a new position in shares of Arcturus Therapeutics during the first quarter worth approximately $232,000. Institutional investors and hedge funds own 94.54% of the company’s stock.

Arcturus Therapeutics Stock Performance

NASDAQ:ARCT opened at $16.02 on Friday. The company has a 50-day moving average of $20.60 and a 200-day moving average of $24.05. Arcturus Therapeutics Holdings Inc. has a 52 week low of $14.93 and a 52 week high of $45.00. The company has a market capitalization of $433.98 million, a price-to-earnings ratio of -7.22 and a beta of 2.64.

Arcturus Therapeutics (NASDAQ:ARCT) last announced its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.44. Arcturus Therapeutics had a negative net margin of 36.39% and a negative return on equity of 22.39%. The firm had revenue of $41.67 million during the quarter, compared to analysts’ expectations of $49.16 million. During the same quarter last year, the company earned ($0.61) earnings per share. Sell-side analysts forecast that Arcturus Therapeutics Holdings Inc. will post -2.31 EPS for the current year.

Insider Buying and Selling

In other Arcturus Therapeutics news, COO Pad Chivukula sold 12,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $20.76, for a total transaction of $249,120.00. Following the completion of the transaction, the chief operating officer now directly owns 435,334 shares in the company, valued at $9,037,533.84. This represents a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 15.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ARCT has been the topic of several research analyst reports. HC Wainwright restated a “buy” rating and issued a $63.00 price objective on shares of Arcturus Therapeutics in a research note on Friday, November 8th. Leerink Partnrs upgraded shares of Arcturus Therapeutics to a “strong-buy” rating in a report on Monday, August 12th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcturus Therapeutics in a research report on Monday, September 9th. Finally, Leerink Partners began coverage on Arcturus Therapeutics in a research report on Monday, August 12th. They set an “outperform” rating and a $70.00 target price on the stock. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $71.40.

Arcturus Therapeutics 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.