HC Wainwright Reaffirms “Neutral” Rating for Arcturus Therapeutics (NASDAQ:ARCT)

Arcturus Therapeutics (NASDAQ:ARCT)‘s stock had its “neutral” rating reiterated by stock analysts at HC Wainwright in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $12.00 target price on the biotechnology company’s stock, down from their prior target price of $60.00.

Several other equities analysts have also commented on the stock. Wall Street Zen raised shares of Arcturus Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Guggenheim lowered shares of Arcturus Therapeutics from a “buy” rating to a “neutral” rating in a report on Wednesday. Citigroup lowered shares of Arcturus Therapeutics from a “buy” rating to a “neutral” rating and decreased their target price for the company from $49.00 to $12.00 in a report on Thursday. Wells Fargo & Company decreased their price target on shares of Arcturus Therapeutics from $42.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Zacks Research raised shares of Arcturus Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $31.71.

Arcturus Therapeutics Stock Up 4.0%

ARCT stock opened at $12.00 on Friday. Arcturus Therapeutics has a 12 month low of $8.04 and a 12 month high of $24.17. The firm has a market cap of $325.86 million, a P/E ratio of -5.38 and a beta of 2.39. The company’s 50-day moving average price is $18.88 and its two-hundred day moving average price is $14.74.

Arcturus Therapeutics (NASDAQ:ARCT) last released its earnings results on Monday, August 11th. The biotechnology company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($1.11) by $0.77. Arcturus Therapeutics had a negative net margin of 49.26% and a negative return on equity of 24.87%. The firm had revenue of $28.30 million for the quarter, compared to analyst estimates of $17.64 million. Equities analysts predict that Arcturus Therapeutics will post -2.22 EPS for the current year.

Institutional Investors Weigh In On Arcturus Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. ARK Investment Management LLC grew its holdings in Arcturus Therapeutics by 3.9% during the 1st quarter. ARK Investment Management LLC now owns 2,008,480 shares of the biotechnology company’s stock worth $21,270,000 after acquiring an additional 74,629 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Arcturus Therapeutics by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 1,748,928 shares of the biotechnology company’s stock worth $18,521,000 after purchasing an additional 64,367 shares during the period. Geode Capital Management LLC lifted its position in shares of Arcturus Therapeutics by 6.4% in the 2nd quarter. Geode Capital Management LLC now owns 606,291 shares of the biotechnology company’s stock worth $7,889,000 after purchasing an additional 36,671 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Arcturus Therapeutics by 9.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 509,712 shares of the biotechnology company’s stock worth $5,398,000 after purchasing an additional 42,636 shares during the period. Finally, Millennium Management LLC acquired a new position in shares of Arcturus Therapeutics in the 1st quarter worth approximately $4,892,000. 94.54% of the stock is 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.