Arcturus Therapeutics (NASDAQ:ARCT) Posts Quarterly Earnings Results, Beats Estimates By $0.60 EPS

Arcturus Therapeutics (NASDAQ:ARCT) posted its quarterly earnings data on Monday. The biotechnology company reported ($0.49) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.09) by $0.60, Zacks reports. Arcturus Therapeutics had a negative return on equity of 24.87% and a negative net margin of 49.26%.

Arcturus Therapeutics Price Performance

Shares of Arcturus Therapeutics stock traded up $0.04 on Monday, reaching $8.76. The company had a trading volume of 577,747 shares, compared to its average volume of 677,136. The firm’s 50-day moving average price is $17.08 and its two-hundred day moving average price is $14.77. Arcturus Therapeutics has a 1 year low of $7.93 and a 1 year high of $24.17. The firm has a market cap of $237.89 million, a price-to-earnings ratio of -3.93 and a beta of 2.47.

Wall Street Analyst Weigh In

ARCT has been the topic of a number of recent analyst reports. Wall Street Zen cut shares of Arcturus Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. Guggenheim downgraded shares of Arcturus Therapeutics from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 22nd. Wells Fargo & Company lowered their target price on shares of Arcturus Therapeutics from $42.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, October 23rd. Leerink Partners cut their price target on Arcturus Therapeutics from $63.00 to $54.00 and set an “outperform” rating for the company in a research note on Friday, August 22nd. Finally, Zacks Research downgraded Arcturus Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 24th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $31.71.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ARCT. Vanguard Group Inc. grew its stake in Arcturus Therapeutics by 4.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,885,605 shares of the biotechnology company’s stock worth $34,752,000 after acquiring an additional 75,440 shares in the last quarter. Osaic Holdings Inc. grew its stake in Arcturus Therapeutics by 51.8% in the second quarter. Osaic Holdings Inc. now owns 2,163 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 738 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Arcturus Therapeutics by 163.4% in the second 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 in the last quarter. Bank of America Corp DE increased its holdings in Arcturus Therapeutics by 0.7% during the 2nd quarter. Bank of America Corp DE now owns 292,429 shares of the biotechnology company’s stock worth $3,805,000 after purchasing an additional 2,098 shares during the period. Finally, Ameriprise Financial Inc. raised its position in Arcturus Therapeutics by 378.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 72,252 shares of the biotechnology company’s stock valued at $940,000 after purchasing an additional 57,152 shares in the last quarter. 94.54% of the stock is currently owned by 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.