Arcturus Therapeutics (NASDAQ:ARCT) Receives Buy Rating from HC Wainwright

Arcturus Therapeutics (NASDAQ:ARCT)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $63.00 price target on the biotechnology company’s stock. HC Wainwright’s price objective would suggest a potential upside of 280.21% from the stock’s previous close.

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcturus Therapeutics in a report on Monday, December 16th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $66.75.

Arcturus Therapeutics Price Performance

Shares of NASDAQ ARCT traded down $1.41 during trading on Monday, reaching $16.57. 116,218 shares of the stock traded hands, compared to its average volume of 432,685. The stock has a market capitalization of $448.83 million, a P/E ratio of -7.46 and a beta of 2.63. Arcturus Therapeutics has a 52-week low of $14.30 and a 52-week high of $45.00. The company has a 50-day moving average of $17.62 and a 200-day moving average of $20.05.

Arcturus Therapeutics (NASDAQ:ARCT) last issued its earnings results on Thursday, November 7th. The biotechnology company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.44. The firm had revenue of $41.67 million during the quarter, compared to analyst estimates 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 last year, the business earned ($0.61) earnings per share. Analysts expect that Arcturus Therapeutics 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 Arcturus Therapeutics stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $20.76, for a total transaction of $249,120.00. Following the transaction, the chief operating officer now directly owns 435,334 shares of the company’s stock, valued at approximately $9,037,533.84. This trade represents a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 15.30% of the company’s stock.

Institutional Trading of Arcturus Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of ARCT. Franklin Resources Inc. lifted 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 worth $2,412,000 after buying an additional 36,714 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Arcturus Therapeutics by 45.6% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,275,715 shares of the biotechnology company’s stock worth $52,819,000 after buying an additional 712,650 shares during the last quarter. Empire Life Investments Inc. purchased a new position in Arcturus Therapeutics during the third quarter valued at $3,498,000. XTX Topco Ltd purchased a new stake in shares of Arcturus Therapeutics in the second quarter worth $596,000. Finally, Squarepoint Ops LLC bought a new position in Arcturus Therapeutics in the 2nd quarter worth about $718,000. Institutional investors own 94.54% of the company’s stock.

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.