Canaccord Genuity Group Has Lowered Expectations for Arcturus Therapeutics (NASDAQ:ARCT) Stock Price

Arcturus Therapeutics (NASDAQ:ARCT) had its price objective cut by analysts at Canaccord Genuity Group from $68.00 to $66.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock.

A number of other analysts also recently weighed in on ARCT. HC Wainwright reiterated a “buy” rating and set a $60.00 target price on shares of Arcturus Therapeutics in a research report on Thursday, April 10th. Wells Fargo & Company dropped their price objective on Arcturus Therapeutics from $58.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. BTIG Research set a $48.00 price objective on Arcturus Therapeutics and gave the stock a “buy” rating in a research report on Monday, March 10th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Arcturus Therapeutics in a research report on Friday, March 7th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $57.80.

Arcturus Therapeutics Stock Performance

NASDAQ:ARCT opened at $10.84 on Tuesday. The stock has a fifty day moving average price of $11.69 and a 200-day moving average price of $15.35. The company has a market cap of $293.99 million, a price-to-earnings ratio of -4.88 and a beta of 2.36. Arcturus Therapeutics has a fifty-two week low of $8.04 and a fifty-two week high of $45.00.

Arcturus Therapeutics (NASDAQ:ARCT) last released its earnings results on Monday, May 12th. The biotechnology company reported ($0.52) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.58) by $1.06. The firm had revenue of $29.38 million during the quarter, compared to the consensus estimate of $25.64 million. Arcturus Therapeutics had a negative return on equity of 22.39% and a negative net margin of 36.39%. Research analysts predict that Arcturus Therapeutics will post -2.22 EPS for the current fiscal year.

Institutional Trading of Arcturus Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. Byrne Asset Management LLC increased its holdings in Arcturus Therapeutics by 89.8% in the 1st quarter. Byrne Asset Management LLC now owns 2,885 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 1,365 shares in the last quarter. US Bancorp DE increased its holdings in Arcturus Therapeutics by 218.9% in the 1st quarter. US Bancorp DE now owns 3,393 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 2,329 shares in the last quarter. Virtus ETF Advisers LLC increased its holdings in Arcturus Therapeutics by 38.8% in the 4th quarter. Virtus ETF Advisers LLC now owns 4,051 shares of the biotechnology company’s stock worth $69,000 after purchasing an additional 1,132 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in Arcturus Therapeutics in the 4th quarter worth about $71,000. Finally, National Bank of Canada FI increased its holdings in Arcturus Therapeutics by 639.6% in the 4th quarter. National Bank of Canada FI now owns 5,532 shares of the biotechnology company’s stock worth $94,000 after purchasing an additional 4,784 shares in the last quarter. 94.54% of the stock is currently owned by 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.