Arcturus Therapeutics (NASDAQ:ARCT) Trading Down 5.6%

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT)’s share price fell 5.6% during mid-day trading on Tuesday . The stock traded as low as $20.07 and last traded at $20.24. 118,775 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 502,419 shares. The stock had previously closed at $21.44.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ARCT. Leerink Partners began coverage on Arcturus Therapeutics in a report on Monday, August 12th. They issued an “outperform” rating and a $70.00 price target for the company. HC Wainwright increased their price objective on Arcturus Therapeutics from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcturus Therapeutics in a report on Tuesday, August 6th. Leerink Partnrs upgraded Arcturus Therapeutics to a “strong-buy” rating in a report on Monday, August 12th. Finally, Canaccord Genuity Group decreased their price objective on Arcturus Therapeutics from $87.00 to $86.00 and set a “buy” rating for the company in a report on Friday, May 10th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $71.40.

Arcturus Therapeutics Stock Down 3.8 %

The stock has a 50 day simple moving average of $22.58 and a two-hundred day simple moving average of $29.51. The stock has a market capitalization of $555.34 million, a P/E ratio of -5.20 and a beta of 2.64.

Arcturus Therapeutics (NASDAQ:ARCT) last posted its quarterly earnings results on Monday, August 5th. The biotechnology company reported ($0.64) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.85) by $1.21. Arcturus Therapeutics had a negative return on equity of 37.61% and a negative net margin of 81.59%. The firm had revenue of $49.86 million during the quarter, compared to the consensus estimate of $21.00 million. During the same period last year, the company earned ($1.98) earnings per share. Sell-side analysts predict that Arcturus Therapeutics Holdings Inc. will post -4.74 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Pad Chivukula sold 26,000 shares of Arcturus Therapeutics stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $40.01, for a total transaction of $1,040,260.00. Following the completion of the sale, the chief operating officer now directly owns 447,448 shares of the company’s stock, valued at approximately $17,902,394.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 13.80% of the company’s stock.

Hedge Funds Weigh In On Arcturus Therapeutics

A number of hedge funds have recently added to or reduced their stakes in ARCT. Millennium Management LLC increased its stake in shares of Arcturus Therapeutics by 250.1% in the 2nd quarter. Millennium Management LLC now owns 555,024 shares of the biotechnology company’s stock valued at $13,515,000 after purchasing an additional 396,505 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Arcturus Therapeutics by 22.4% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,563,065 shares of the biotechnology company’s stock valued at $38,061,000 after purchasing an additional 286,546 shares during the last quarter. ARK Investment Management LLC grew its position in Arcturus Therapeutics by 16.3% during the 2nd quarter. ARK Investment Management LLC now owns 1,964,964 shares of the biotechnology company’s stock worth $47,847,000 after acquiring an additional 275,315 shares during the last quarter. Great Lakes Advisors LLC bought a new stake in Arcturus Therapeutics during the 4th quarter worth $6,531,000. Finally, Dimensional Fund Advisors LP grew its position in Arcturus Therapeutics by 11.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,088,930 shares of the biotechnology company’s stock worth $34,336,000 after acquiring an additional 115,087 shares during the last quarter. Institutional investors own 94.54% of the company’s stock.

About Arcturus Therapeutics

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.