Arcturus Therapeutics (NASDAQ:ARCT) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Arcturus Therapeutics (NASDAQ:ARCT) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

Other equities analysts have also recently issued research reports about the company. Weiss Ratings restated a “sell (d-)” rating on shares of Arcturus Therapeutics in a report on Wednesday, October 8th. HC Wainwright lowered their price target on Arcturus Therapeutics from $12.00 to $9.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 11th. Zacks Research cut Arcturus Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 24th. Piper Sandler lowered their target price on shares of Arcturus Therapeutics from $140.00 to $72.00 and set an “overweight” rating on the stock in a report on Tuesday, November 11th. Finally, Leerink Partners decreased their price objective on shares of Arcturus Therapeutics from $63.00 to $54.00 and set an “outperform” rating for the company in a research report on Friday, August 22nd. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Arcturus Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $36.00.

Arcturus Therapeutics Stock Performance

NASDAQ:ARCT opened at $7.25 on Friday. The stock has a 50-day simple moving average of $10.83 and a 200 day simple moving average of $13.85. Arcturus Therapeutics has a 52-week low of $5.85 and a 52-week high of $24.17. The company has a market cap of $205.97 million, a PE ratio of -2.95 and a beta of 2.10.

Arcturus Therapeutics (NASDAQ:ARCT) last posted its quarterly earnings data on Monday, November 10th. The biotechnology company reported ($0.49) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.09) by $0.60. Arcturus Therapeutics had a negative net margin of 68.35% and a negative return on equity of 28.68%. The company had revenue of $17.15 million for the quarter, compared to the consensus estimate of $17.47 million. On average, research analysts predict that Arcturus Therapeutics will post -2.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ARCT. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Arcturus Therapeutics by 6.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,947,835 shares of the biotechnology company’s stock valued at $35,899,000 after purchasing an additional 115,368 shares during the last quarter. Amova Asset Management Americas Inc. grew its holdings in shares of Arcturus Therapeutics by 6.4% during the third quarter. Amova Asset Management Americas Inc. now owns 1,947,835 shares of the biotechnology company’s stock worth $35,879,000 after purchasing an additional 117,632 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Arcturus Therapeutics by 4.2% during the third quarter. Vanguard Group Inc. now owns 1,885,605 shares of the biotechnology company’s stock worth $34,752,000 after purchasing an additional 75,440 shares during the last quarter. ARK Investment Management LLC increased its stake in shares of Arcturus Therapeutics by 9.2% in the third quarter. ARK Investment Management LLC now owns 1,872,721 shares of the biotechnology company’s stock valued at $34,514,000 after buying an additional 157,681 shares during the period. Finally, Bank of America Corp DE raised its holdings in Arcturus Therapeutics by 112.0% in the 3rd quarter. Bank of America Corp DE now owns 620,055 shares of the biotechnology company’s stock valued at $11,428,000 after buying an additional 327,626 shares during the last quarter. 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.