Arcturus Therapeutics (NASDAQ:ARCT) Stock Passes Below 200-Day Moving Average – Here’s Why

Shares of Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.45 and traded as low as $7.16. Arcturus Therapeutics shares last traded at $7.36, with a volume of 378,896 shares trading hands.

Analyst Ratings Changes

ARCT has been the topic of several analyst reports. Piper Sandler cut their target price on Arcturus Therapeutics from $72.00 to $25.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 4th. Citigroup dropped their price objective on shares of Arcturus Therapeutics from $66.00 to $21.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. B. Riley Financial started coverage on shares of Arcturus Therapeutics in a report on Wednesday, March 18th. They issued a “buy” rating and a $22.00 target price for the company. Finally, Weiss Ratings raised shares of Arcturus Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Arcturus Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $25.44.

Arcturus Therapeutics Price Performance

The stock has a market capitalization of $214.00 million, a PE ratio of -2.68 and a beta of 2.36. The firm has a fifty day moving average price of $7.95 and a two-hundred day moving average price of $7.46.

Arcturus Therapeutics (NASDAQ:ARCT) last posted its quarterly earnings data on Friday, May 8th. The biotechnology company reported ($0.95) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.03) by $0.08. The company had revenue of $2.06 million during the quarter, compared to analysts’ expectations of $6.30 million. Arcturus Therapeutics had a negative return on equity of 36.55% and a negative net margin of 143.80%. On average, research analysts expect that Arcturus Therapeutics Holdings Inc. will post -3.99 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC bought a new stake in Arcturus Therapeutics during the 1st quarter valued at about $128,000. Millennium Management LLC purchased a new stake in Arcturus Therapeutics in the 1st quarter valued at about $4,892,000. Goldman Sachs Group Inc. grew its stake 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 worth $5,398,000 after acquiring an additional 42,636 shares in the last quarter. Acadian Asset Management LLC bought a new position in Arcturus Therapeutics in the 1st quarter worth about $701,000. Finally, Strs Ohio purchased a new position in shares of Arcturus Therapeutics during the first quarter worth approximately $89,000. 94.54% of the stock is currently owned by institutional investors.

About Arcturus Therapeutics

Arcturus Therapeutics Holdings Inc is a clinical-stage biotechnology company dedicated to developing messenger RNA (mRNA) medicines that address a range of diseases. The company leverages its proprietary STARR® mRNA platform to enable precise control over mRNA expression, supported by its lipid nanoparticle delivery technology, LUNAR®. Arcturus’s approach is designed to address both therapeutic and prophylactic applications, with an emphasis on vaccines and treatments for rare genetic and infectious diseases.

The company’s pipeline includes ARCT-810, an mRNA therapeutic candidate for phenylketonuria (PKU), and ARCT-021 (also known as LUNAR-COV19), a COVID-19 vaccine candidate developed in collaboration with Duke-NUS Medical School in Singapore.