Arcturus Therapeutics (NASDAQ:ARCT) Shares Down 8.6% – Here’s Why

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT)’s stock price was down 8.6% during mid-day trading on Wednesday . The company traded as low as $19.03 and last traded at $19.03. Approximately 113,147 shares changed hands during trading, a decline of 75% from the average daily volume of 454,586 shares. The stock had previously closed at $20.83.

Analysts Set New Price Targets

ARCT has been the subject of a number of research analyst reports. HC Wainwright restated a “buy” rating and set a $63.00 price objective on shares of Arcturus Therapeutics in a research report on Tuesday. Cantor Fitzgerald restated an “overweight” rating on shares of Arcturus Therapeutics in a research report on Monday, December 16th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Arcturus Therapeutics has an average rating of “Buy” and a consensus price target of $66.75.

Arcturus Therapeutics Price Performance

The stock’s fifty day moving average price is $17.59 and its 200-day moving average price is $20.21. The firm has a market cap of $521.42 million, a PE ratio of -8.67 and a beta of 2.63.

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

Insiders Place Their Bets

In other Arcturus Therapeutics news, COO Pad Chivukula sold 12,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $20.76, for a total value of $249,120.00. Following the transaction, the chief operating officer now directly owns 435,334 shares in the company, valued at $9,037,533.84. The trade was a 2.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 15.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Nordea Investment Management AB raised its position in Arcturus Therapeutics by 3.7% in the fourth quarter. Nordea Investment Management AB now owns 65,778 shares of the biotechnology company’s stock valued at $1,097,000 after purchasing an additional 2,335 shares during the period. Franklin Resources Inc. raised its holdings in Arcturus Therapeutics by 54.6% in the 3rd quarter. Franklin Resources Inc. now owns 103,936 shares of the biotechnology company’s stock valued at $2,412,000 after buying an additional 36,714 shares during the period. Geode Capital Management LLC lifted its position in Arcturus Therapeutics by 1.1% in the third quarter. Geode Capital Management LLC now owns 551,798 shares of the biotechnology company’s stock valued at $12,810,000 after buying an additional 5,789 shares during the last quarter. XTX Topco Ltd boosted its stake in Arcturus Therapeutics by 51.1% during the third quarter. XTX Topco Ltd now owns 36,990 shares of the biotechnology company’s stock worth $859,000 after buying an additional 12,509 shares during the period. Finally, PDT Partners LLC acquired a new stake in shares of Arcturus Therapeutics during the third quarter valued at about $1,744,000. 94.54% of the stock is currently owned by institutional investors and hedge funds.

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.