Arcturus Therapeutics (NASDAQ:ARCT) Stock Price Down 3.2%

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) shares fell 3.2% during trading on Wednesday . The company traded as low as $29.04 and last traded at $29.16. 14,973 shares changed hands during trading, a decline of 97% from the average session volume of 447,227 shares. The stock had previously closed at $30.13.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ARCT. HC Wainwright reaffirmed a “buy” rating and set a $60.00 price target on shares of Arcturus Therapeutics in a research report on Wednesday, March 20th. William Blair reissued an “outperform” rating on shares of Arcturus Therapeutics in a research report on Friday, March 8th. Finally, Citigroup increased their price objective on shares of Arcturus Therapeutics from $40.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, February 8th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $61.33.

Arcturus Therapeutics Trading Down 4.8 %

The company has a market cap of $708.53 million, a P/E ratio of -25.31 and a beta of 2.60. The stock’s 50-day moving average price is $35.42 and its 200-day moving average price is $29.75.

Arcturus Therapeutics (NASDAQ:ARCT) last announced its quarterly earnings results on Thursday, March 7th. The biotechnology company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($1.69) by $1.37. Arcturus Therapeutics had a negative net margin of 15.65% and a negative return on equity of 18.22%. The business had revenue of $33.99 million for the quarter, compared to analysts’ expectations of $64.14 million. On average, research analysts anticipate that Arcturus Therapeutics Holdings Inc. will post -1.42 earnings per share for the current fiscal year.

Insider Transactions at Arcturus Therapeutics

In related news, COO Pad Chivukula sold 8,565 shares of Arcturus Therapeutics stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $35.01, for a total transaction of $299,860.65. Following the sale, the chief operating officer now directly owns 490,883 shares in the company, valued at $17,185,813.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 13.80% of the company’s stock.

Institutional Trading of Arcturus Therapeutics

A number of hedge funds have recently bought and sold shares of the business. State Street Corp raised its stake in shares of Arcturus Therapeutics by 56.5% in the first quarter. State Street Corp now owns 3,217,957 shares of the biotechnology company’s stock valued at $86,756,000 after buying an additional 1,161,883 shares during the period. Bank of America Corp DE raised its stake in shares of Arcturus Therapeutics by 535.2% in the fourth quarter. Bank of America Corp DE now owns 685,954 shares of the biotechnology company’s stock valued at $11,634,000 after buying an additional 577,968 shares during the period. Balyasny Asset Management LLC raised its stake in shares of Arcturus Therapeutics by 3,039.8% in the third quarter. Balyasny Asset Management LLC now owns 339,383 shares of the biotechnology company’s stock valued at $5,030,000 after buying an additional 328,574 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Arcturus Therapeutics in the second quarter valued at $7,620,000. Finally, Woodline Partners LP raised its stake in shares of Arcturus Therapeutics by 30.7% during the 2nd quarter. Woodline Partners LP now owns 1,069,814 shares of the biotechnology company’s stock valued at $30,682,000 after purchasing an additional 251,376 shares during the period. 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.