Arcturus Therapeutics (NASDAQ:ARCT) Shares Gap Up to $18.08

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT)’s share price gapped up prior to trading on Monday . The stock had previously closed at $18.08, but opened at $19.19. Arcturus Therapeutics shares last traded at $18.92, with a volume of 118,100 shares changing hands.

Analyst Ratings Changes

Several analysts recently weighed in on ARCT shares. Leerink Partnrs upgraded shares of Arcturus Therapeutics to a “strong-buy” rating in a report on Monday. SVB Leerink assumed coverage on shares of Arcturus Therapeutics in a research note on Monday. They issued an “outperform” rating and a $70.00 price target for the company. William Blair restated an “outperform” rating on shares of Arcturus Therapeutics in a research note on Thursday, May 23rd. HC Wainwright boosted their price target on shares of Arcturus Therapeutics from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Finally, Canaccord Genuity Group dropped their price target on shares of Arcturus Therapeutics from $87.00 to $86.00 and set a “buy” rating for the company in a research note on Friday, May 10th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $68.50.

Arcturus Therapeutics Stock Performance

The firm has a market capitalization of $517.36 million, a PE ratio of -4.91 and a beta of 2.64. The company’s 50-day moving average price is $24.89 and its 200-day moving average price is $30.41.

Arcturus Therapeutics (NASDAQ:ARCT) last released its quarterly earnings data on Monday, August 5th. The biotechnology company reported ($0.64) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.85) by $1.21. Arcturus Therapeutics had a negative net margin of 81.59% and a negative return on equity of 37.61%. The business had revenue of $49.86 million during the quarter, compared to analysts’ expectations of $21.00 million. During the same period in the previous year, the company earned ($1.98) EPS. As a group, analysts anticipate that Arcturus Therapeutics Holdings Inc. will post -4.74 earnings per share for the current year.

Insider Activity at Arcturus Therapeutics

In related news, COO Pad Chivukula sold 26,000 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $40.01, for a total value of $1,040,260.00. Following the completion of the sale, the chief operating officer now directly owns 447,448 shares of the company’s stock, valued at $17,902,394.48. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 13.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arcturus Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Arizona State Retirement System acquired a new position in Arcturus Therapeutics during the fourth quarter worth about $211,000. Allspring Global Investments Holdings LLC grew its position in Arcturus Therapeutics by 224.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 114,810 shares of the biotechnology company’s stock worth $3,620,000 after buying an additional 79,387 shares during the period. Strs Ohio grew its position in Arcturus Therapeutics by 18.9% during the fourth quarter. Strs Ohio now owns 25,200 shares of the biotechnology company’s stock worth $794,000 after buying an additional 4,000 shares during the period. SummerHaven Investment Management LLC grew its position in shares of Arcturus Therapeutics by 1.7% in the fourth quarter. SummerHaven Investment Management LLC now owns 22,704 shares of the biotechnology company’s stock valued at $716,000 after purchasing an additional 378 shares during the last quarter. Finally, AJOVista LLC acquired a new stake in shares of Arcturus Therapeutics in the fourth quarter valued at approximately $65,000. 94.54% of the stock is 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.