Arcturus Therapeutics (NASDAQ:ARCT) Posts Quarterly Earnings Results, Beats Expectations By $0.60 EPS

Arcturus Therapeutics (NASDAQ:ARCT) announced its quarterly earnings data on Monday. The biotechnology company reported ($0.49) EPS for the quarter, topping analysts’ consensus estimates of ($1.09) by $0.60, Zacks reports. The firm had revenue of $17.15 million for the quarter, compared to the consensus estimate of $17.47 million. Arcturus Therapeutics had a negative return on equity of 28.35% and a negative net margin of 68.35%.

Arcturus Therapeutics Trading Down 1.3%

NASDAQ:ARCT opened at $8.67 on Wednesday. Arcturus Therapeutics has a 12-month low of $7.93 and a 12-month high of $24.17. The firm has a market cap of $235.48 million, a PE ratio of -3.52 and a beta of 2.47. The stock has a fifty day moving average price of $16.76 and a 200 day moving average price of $14.71.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Citigroup cut shares of Arcturus Therapeutics from a “buy” rating to a “neutral” rating and lowered their price target for the company from $49.00 to $12.00 in a research report on Thursday, October 23rd. HC Wainwright cut their target price on Arcturus Therapeutics from $12.00 to $9.00 and set a “neutral” rating for the company in a research note on Tuesday. Guggenheim lowered Arcturus Therapeutics from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 22nd. Wall Street Zen cut Arcturus Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. Finally, Zacks Research lowered shares of Arcturus Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 24th. Seven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Arcturus Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $36.38.

Hedge Funds Weigh In On Arcturus Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Osaic Holdings Inc. increased its stake in shares of Arcturus Therapeutics by 51.8% during the second quarter. Osaic Holdings Inc. now owns 2,163 shares of the biotechnology company’s stock worth $28,000 after buying an additional 738 shares during the period. BNP Paribas Financial Markets grew its holdings in Arcturus Therapeutics by 163.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,169 shares of the biotechnology company’s stock worth $54,000 after acquiring an additional 2,586 shares in the last quarter. Strs Ohio acquired a new position in Arcturus Therapeutics during the 1st quarter worth approximately $89,000. AQR Capital Management LLC purchased a new stake in shares of Arcturus Therapeutics in the 1st quarter valued at approximately $128,000. Finally, Russell Investments Group Ltd. increased its position in shares of Arcturus Therapeutics by 97.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 23,318 shares of the biotechnology company’s stock valued at $303,000 after purchasing an additional 11,490 shares during the last quarter. Hedge funds and other institutional investors own 94.54% of the company’s stock.

Arcturus Therapeutics Company Profile

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.