Arcturus Therapeutics (NASDAQ:ARCT) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Arcturus Therapeutics (NASDAQ:ARCT) from a hold rating to a sell rating in a report released on Sunday,Wall Street Zen reports.

ARCT has been the topic of several other reports. Weiss Ratings restated a “sell (d-)” rating on shares of Arcturus Therapeutics in a research report on Friday, July 17th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcturus Therapeutics in a research report on Thursday, September 24th. BTIG Research decreased their price target on Arcturus Therapeutics from $23.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, September 24th. Roth Capital restated a “buy” rating and set a $41.00 price objective on shares of Arcturus Therapeutics in a research note on Wednesday, September 2nd. Finally, Citigroup raised shares of Arcturus Therapeutics from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $8.00 to $20.00 in a report on Thursday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Arcturus Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $22.43.

Arcturus Therapeutics Stock Down 11.3%

Arcturus Therapeutics stock opened at $13.00 on Friday. Arcturus Therapeutics has a 52-week low of $5.50 and a 52-week high of $24.17. The firm has a market capitalization of $369.46 million, a price-to-earnings ratio of -3.93 and a beta of 2.48. The firm has a 50-day moving average price of $12.31 and a two-hundred day moving average price of $9.17.

Arcturus Therapeutics (NASDAQ:ARCT) last announced its quarterly earnings results on Friday, August 7th. The biotechnology company reported ($0.84) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.16. The company had revenue of $2.96 million for the quarter, compared to analyst estimates of $3.11 million. Arcturus Therapeutics had a negative net margin of 317.62% and a negative return on equity of 46.54%. Research analysts expect that Arcturus Therapeutics will post -3.48 earnings per share for the current year.

Hedge Funds Weigh In On Arcturus Therapeutics

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. acquired a new position in Arcturus Therapeutics during the second quarter worth about $17,566,000. Amova Asset Management Americas Inc. raised its position in Arcturus Therapeutics by 12.9% in the first quarter. Amova Asset Management Americas Inc. now owns 2,288,935 shares of the biotechnology company’s stock worth $17,648,000 after acquiring an additional 262,347 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Arcturus Therapeutics by 12.9% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,288,935 shares of the biotechnology company’s stock valued at $17,671,000 after acquiring an additional 262,347 shares during the last quarter. Heartland Advisors Inc. acquired a new stake in Arcturus Therapeutics in the 1st quarter valued at about $1,976,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Arcturus Therapeutics during the 2nd quarter valued at about $540,000. 94.54% of the stock is currently owned by institutional investors and hedge funds.

Arcturus Therapeutics Company Profile

Arcturus Therapeutics Holdings Inc is a biotechnology company focused on developing medicines based on messenger RNA (mRNA) and other RNA technologies. Headquartered in San Diego, California, the company uses its proprietary LUNAR lipid-mediated delivery platform and STX self-amplifying mRNA technology to design and deliver RNA-based therapeutics and vaccines.

The company’s research and development activities address rare diseases, infectious diseases, respiratory conditions and other areas of significant unmet medical need.