Canaccord Genuity Group Cuts Arcturus Therapeutics (NASDAQ:ARCT) Price Target to $68.00

Arcturus Therapeutics (NASDAQ:ARCT) had its price objective lowered by Canaccord Genuity Group from $74.00 to $68.00 in a research report released on Monday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the biotechnology company’s stock.

Several other equities analysts also recently weighed in on ARCT. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcturus Therapeutics in a research note on Friday, March 7th. BTIG Research set a $48.00 price target on shares of Arcturus Therapeutics and gave the stock a “buy” rating in a research note on Monday. Wells Fargo & Company cut their price objective on shares of Arcturus Therapeutics from $58.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. Finally, HC Wainwright cut their price objective on shares of Arcturus Therapeutics from $63.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, March 7th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Arcturus Therapeutics presently has an average rating of “Buy” and a consensus price target of $59.20.

Arcturus Therapeutics Stock Up 7.9 %

ARCT opened at $14.26 on Monday. The company has a market cap of $386.73 million, a price-to-earnings ratio of -6.42 and a beta of 2.96. Arcturus Therapeutics has a 52-week low of $12.75 and a 52-week high of $45.00. The firm’s fifty day simple moving average is $16.78 and its two-hundred day simple moving average is $18.41.

Arcturus Therapeutics (NASDAQ:ARCT) last posted its quarterly earnings results on Thursday, March 6th. The biotechnology company reported ($1.11) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.78). The business had revenue of $22.77 million during the quarter, compared to analysts’ expectations of $44.64 million. Arcturus Therapeutics had a negative return on equity of 22.39% and a negative net margin of 36.39%. On average, research analysts forecast that Arcturus Therapeutics will post -2.22 EPS for the current year.

Institutional Investors Weigh In On Arcturus Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Arcturus Therapeutics by 45.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,275,715 shares of the biotechnology company’s stock valued at $52,819,000 after acquiring an additional 712,650 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of Arcturus Therapeutics during the fourth quarter valued at about $9,312,000. Schonfeld Strategic Advisors LLC increased its position in shares of Arcturus Therapeutics by 129.7% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 849,081 shares of the biotechnology company’s stock valued at $14,409,000 after acquiring an additional 479,482 shares during the last quarter. J. Goldman & Co LP acquired a new stake in shares of Arcturus Therapeutics during the fourth quarter valued at about $5,024,000. Finally, MPM Bioimpact LLC increased its position in shares of Arcturus Therapeutics by 109.5% during the fourth quarter. MPM Bioimpact LLC now owns 459,943 shares of the biotechnology company’s stock valued at $7,805,000 after acquiring an additional 240,435 shares during the last quarter. 94.54% of the stock is currently owned by institutional investors and hedge funds.

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.