Wall Street Zen Downgrades Arcturus Therapeutics (NASDAQ:ARCT) to Sell

Arcturus Therapeutics (NASDAQ:ARCT) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

ARCT has been the subject of several other reports. Guggenheim lowered shares of Arcturus Therapeutics from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 22nd. HC Wainwright reissued a “neutral” rating and set a $12.00 price target (down from $60.00) on shares of Arcturus Therapeutics in a research report on Friday. Leerink Partners decreased their price objective on shares of Arcturus Therapeutics from $63.00 to $54.00 and set an “outperform” rating for the company in a research report on Friday, August 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcturus Therapeutics in a research report on Friday. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Arcturus Therapeutics in a research report on Wednesday, July 2nd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Arcturus Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $31.71.

Arcturus Therapeutics Stock Performance

ARCT stock opened at $11.22 on Friday. The firm has a market cap of $304.74 million, a price-to-earnings ratio of -5.03 and a beta of 2.39. The firm has a 50-day simple moving average of $18.72 and a two-hundred day simple moving average of $14.83. Arcturus Therapeutics has a one year low of $8.04 and a one year high of $24.17.

Arcturus Therapeutics (NASDAQ:ARCT) last released its quarterly earnings results on Monday, August 11th. The biotechnology company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($1.11) by $0.77. The business had revenue of $28.30 million during the quarter, compared to analyst estimates of $17.64 million. Arcturus Therapeutics had a negative net margin of 49.26% and a negative return on equity of 24.87%. As a group, equities analysts predict that Arcturus Therapeutics will post -2.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arcturus Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of ARCT. Osaic Holdings Inc. increased its holdings in Arcturus Therapeutics by 51.8% in the 2nd quarter. Osaic Holdings Inc. now owns 2,163 shares of the biotechnology company’s stock worth $28,000 after buying an additional 738 shares during the period. US Bancorp DE grew its stake in shares of Arcturus Therapeutics by 218.9% during the 1st quarter. US Bancorp DE now owns 3,393 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 2,329 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Arcturus Therapeutics by 163.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,169 shares of the biotechnology company’s stock worth $54,000 after purchasing an additional 2,586 shares during the period. Strs Ohio acquired a new stake in shares of Arcturus Therapeutics during the 1st quarter worth approximately $89,000. Finally, Russell Investments Group Ltd. grew its stake in shares of Arcturus Therapeutics by 40,686.2% during the 1st quarter. Russell Investments Group Ltd. now owns 11,828 shares of the biotechnology company’s stock worth $125,000 after purchasing an additional 11,799 shares during the period. Institutional investors and hedge funds own 94.54% of the company’s stock.

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.