Arcturus Therapeutics (NASDAQ:ARCT) Price Target Lowered to $9.00 at Citigroup

Arcturus Therapeutics (NASDAQ:ARCT) had its price target decreased by stock analysts at Citigroup from $12.00 to $9.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the biotechnology company’s stock. Citigroup’s price target would suggest a potential upside of 14.36% from the stock’s previous close.

A number of other analysts also recently commented on the company. Wall Street Zen downgraded Arcturus Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. HC Wainwright lowered their price objective on Arcturus Therapeutics from $12.00 to $9.00 and set a “neutral” rating on the stock in a research report on Tuesday. Leerink Partners dropped their price objective on shares of Arcturus Therapeutics from $63.00 to $54.00 and set an “outperform” rating on the stock in a research note on Friday, August 22nd. BTIG Research cut their target price on shares of Arcturus Therapeutics from $48.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday, October 22nd. Finally, Guggenheim downgraded shares of Arcturus Therapeutics from a “buy” rating to a “neutral” rating in a report on Wednesday, October 22nd. Seven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $36.00.

Arcturus Therapeutics Stock Performance

NASDAQ ARCT traded down $0.26 during trading on Thursday, hitting $7.87. The stock had a trading volume of 561,705 shares, compared to its average volume of 680,739. Arcturus Therapeutics has a one year low of $7.88 and a one year high of $24.17. The stock has a 50 day simple moving average of $16.58 and a 200 day simple moving average of $14.67. The stock has a market capitalization of $213.75 million, a price-to-earnings ratio of -3.21 and a beta of 2.47.

Arcturus Therapeutics (NASDAQ:ARCT) last announced its quarterly earnings results on Monday, November 10th. The biotechnology company reported ($0.49) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.09) by $0.60. Arcturus Therapeutics had a negative return on equity of 28.35% and a negative net margin of 68.35%.The firm had revenue of $17.15 million during the quarter, compared to analyst estimates of $17.47 million. On average, sell-side analysts predict that Arcturus Therapeutics will post -2.22 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its position in Arcturus Therapeutics by 9.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 509,712 shares of the biotechnology company’s stock valued at $5,398,000 after acquiring an additional 42,636 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Arcturus Therapeutics during the 1st quarter worth $299,000. Invesco Ltd. grew its stake in Arcturus Therapeutics by 83.1% during the 1st quarter. Invesco Ltd. now owns 34,896 shares of the biotechnology company’s stock worth $370,000 after purchasing an additional 15,836 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in Arcturus Therapeutics by 20.6% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 144,141 shares of the biotechnology company’s stock worth $1,526,000 after purchasing an additional 24,583 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Arcturus Therapeutics during the second quarter worth approximately $240,000. 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.