Arcturus Therapeutics (NASDAQ:ARCT) Cut to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Arcturus Therapeutics (NASDAQ:ARCT) from a hold rating to a sell rating in a report published on Tuesday, Zacks.com reports.

According to Zacks, “Arcturus Therapeutics Ltd. is a preclinical-stage biopharmaceutical company. It focuses on the discovery, development and commercialization of RNA medicines using proprietary lipid-mediated delivery system LUNAR(TM) and UNA Oligomer chemistry technologies. Arcturus Therapeutics Ltd, formerly known as Alcobra Ltd, is based in San Diego, CA. “

A number of other research firms have also recently weighed in on ARCT. Barclays dropped their target price on shares of Arcturus Therapeutics from $46.00 to $31.00 and set an underweight rating on the stock in a research note on Tuesday, November 9th. Cantor Fitzgerald boosted their target price on shares of Arcturus Therapeutics from $85.00 to $93.00 and gave the company an overweight rating in a research note on Tuesday, November 16th. Seven investment analysts have rated the stock with a sell rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Sell and an average target price of $52.29.

ARCT opened at $33.48 on Tuesday. The company has a quick ratio of 6.19, a current ratio of 6.19 and a debt-to-equity ratio of 0.18. The stock has a market cap of $882.57 million, a price-to-earnings ratio of -4.45 and a beta of 2.66. Arcturus Therapeutics has a twelve month low of $24.87 and a twelve month high of $89.18. The company’s 50-day moving average price is $37.54 and its two-hundred day moving average price is $42.05.

Arcturus Therapeutics (NASDAQ:ARCT) last released its earnings results on Monday, November 8th. The biotechnology company reported ($2.05) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.40) by ($0.65). The company had revenue of $2.44 million during the quarter, compared to analysts’ expectations of $26.70 million. Arcturus Therapeutics had a negative net margin of 2,227.82% and a negative return on equity of 55.78%. During the same quarter in the previous year, the firm earned ($0.92) earnings per share. As a group, sell-side analysts anticipate that Arcturus Therapeutics will post -7.89 earnings per share for the current year.

In related news, COO Pad Chivukula sold 8,100 shares of the company’s stock in a transaction that occurred on Tuesday, January 4th. The shares were sold at an average price of $40.00, for a total transaction of $324,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold a total of 28,100 shares of company stock worth $1,168,100 in the last ninety days. 12.20% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Arcturus Therapeutics by 4.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 144,621 shares of the biotechnology company’s stock worth $4,894,000 after buying an additional 6,095 shares during the last quarter. Formidable Asset Management LLC increased its holdings in shares of Arcturus Therapeutics by 79.3% in the 2nd quarter. Formidable Asset Management LLC now owns 12,325 shares of the biotechnology company’s stock worth $346,000 after buying an additional 5,450 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Arcturus Therapeutics by 17.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 11,607 shares of the biotechnology company’s stock worth $392,000 after buying an additional 1,758 shares during the last quarter. Schonfeld Strategic Advisors LLC increased its holdings in shares of Arcturus Therapeutics by 22.5% in the 2nd quarter. Schonfeld Strategic Advisors LLC now owns 23,532 shares of the biotechnology company’s stock worth $796,000 after buying an additional 4,324 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY increased its holdings in shares of Arcturus Therapeutics by 104,016.7% in the 2nd quarter. Metropolitan Life Insurance Co NY now owns 6,247 shares of the biotechnology company’s stock worth $211,000 after buying an additional 6,241 shares during the last quarter. 78.00% of the stock is currently owned by hedge funds and other institutional investors.

Arcturus Therapeutics Company Profile

Arcturus Therapeutics Holdings, Inc is a clinical-stage mRNA medicines and vaccines company, which focuses on the development of infectious disease vaccines and significant opportunities within liver and respiratory rare diseases. Its products include LUNAR-COV19, LUNAR-FLU, LUNAR-OTC, and LUNAR-CF. The company was founded in 2013 and is headquartered in San Diego, CA.

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