Arcturus Therapeutics (NASDAQ:ARCT) Stock Price Down 5.9% – Time to Sell?

by · The Markets Daily

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT – Get Free Report) fell 5.9% during mid-day trading on Thursday . The company traded as low as $20.44 and last traded at $20.60. 144,792 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 481,570 shares. The stock had previously closed at $21.89.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Leerink Partnrs raised shares of Arcturus Therapeutics to a “strong-buy” rating in a report on Monday, August 12th. HC Wainwright reissued a “buy” rating and set a $63.00 price target on shares of Arcturus Therapeutics in a research note on Tuesday, October 1st. Leerink Partners began coverage on Arcturus Therapeutics in a research note on Monday, August 12th. They issued an “outperform” rating and a $70.00 price objective on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcturus Therapeutics in a research report on Monday, September 9th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $71.40.

View Our Latest Stock Report on ARCT

Arcturus Therapeutics Trading Down 5.6 %

The firm has a market capitalization of $556.68 million, a P/E ratio of -5.29 and a beta of 2.61. The firm has a 50 day moving average price of $20.97 and a 200-day moving average price of $25.97.

Arcturus Therapeutics (NASDAQ:ARCT – Get Free Report) last posted its quarterly earnings data on Monday, August 5th. The biotechnology company reported ($0.64) EPS for the quarter, topping the consensus estimate of ($1.85) by $1.21. Arcturus Therapeutics had a negative net margin of 41.21% and a negative return on equity of 25.47%. The company had revenue of $49.86 million during the quarter, compared to analyst estimates of $21.00 million. During the same period in the previous year, the firm earned ($1.98) earnings per share. Research analysts anticipate that Arcturus Therapeutics Holdings Inc. will post -2.6 earnings per share for the current year.

Institutional Trading of Arcturus Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in shares of Arcturus Therapeutics during the third quarter valued at approximately $191,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Arcturus Therapeutics in the second quarter worth about $142,000. Scientech Research LLC purchased a new position in Arcturus Therapeutics in the 2nd quarter worth about $374,000. Millennium Management LLC lifted its holdings in Arcturus Therapeutics by 250.1% during the 2nd quarter. Millennium Management LLC now owns 555,024 shares of the biotechnology company’s stock valued at $13,515,000 after buying an additional 396,505 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C purchased a new stake in Arcturus Therapeutics in the 2nd quarter valued at about $958,000. 94.54% of the stock is owned by hedge funds and other institutional investors.

About Arcturus Therapeutics

(Get Free Report)

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.

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