HC Wainwright Reiterates “Buy” Rating for Arcturus Therapeutics (NASDAQ:ARCT)

HC Wainwright reissued their buy rating on shares of Arcturus Therapeutics (NASDAQ:ARCT) in a research note published on Tuesday,Benzinga reports. They currently have a $63.00 price objective on the biotechnology company’s stock.

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

Arcturus Therapeutics Trading Down 9.0 %

Arcturus Therapeutics stock opened at $18.95 on Tuesday. Arcturus Therapeutics has a 1-year low of $14.30 and a 1-year high of $45.00. The firm has a market capitalization of $513.30 million, a price-to-earnings ratio of -8.54 and a beta of 2.63. The firm has a 50 day simple moving average of $17.60 and a 200 day simple moving average of $20.20.

Arcturus Therapeutics (NASDAQ:ARCT) last released its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.44. Arcturus Therapeutics had a negative net margin of 36.39% and a negative return on equity of 22.39%. The business had revenue of $41.67 million during the quarter, compared to analyst estimates of $49.16 million. During the same period in the previous year, the business earned ($0.61) EPS. On average, equities research analysts forecast that Arcturus Therapeutics will post -2.31 EPS for the current year.

Insider Activity

In related news, COO Pad Chivukula sold 12,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $20.76, for a total value of $249,120.00. Following the completion of the transaction, the chief operating officer now directly owns 435,334 shares in the company, valued at approximately $9,037,533.84. The trade was a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 15.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARCT. nVerses Capital LLC bought a new stake in Arcturus Therapeutics in the third quarter worth $42,000. Quest Partners LLC lifted its stake in Arcturus Therapeutics by 3,283.5% in the second quarter. Quest Partners LLC now owns 3,688 shares of the biotechnology company’s stock worth $90,000 after purchasing an additional 3,579 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in Arcturus Therapeutics by 64.4% in the third quarter. China Universal Asset Management Co. Ltd. now owns 5,201 shares of the biotechnology company’s stock worth $121,000 after purchasing an additional 2,038 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Arcturus Therapeutics in the second quarter worth $142,000. Finally, Point72 DIFC Ltd bought a new stake in Arcturus Therapeutics in the second quarter worth $188,000. 94.54% of the stock is currently owned by hedge funds and other institutional investors.

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.