Arcturus Therapeutics (NASDAQ:ARCT) Sets New 52-Week High at $44.48

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) hit a new 52-week high on Wednesday . The company traded as high as $44.48 and last traded at $44.38, with a volume of 158916 shares changing hands. The stock had previously closed at $41.42.

Analysts Set New Price Targets

Several brokerages have issued reports on ARCT. Canaccord Genuity Group cut their target price on Arcturus Therapeutics from $87.00 to $86.00 and set a “buy” rating for the company in a research note on Friday, May 10th. William Blair reiterated an “outperform” rating on shares of Arcturus Therapeutics in a research report on Thursday, May 23rd. HC Wainwright reaffirmed a “buy” rating and issued a $60.00 price target on shares of Arcturus Therapeutics in a research note on Wednesday, March 20th. Finally, Citigroup increased their price target on shares of Arcturus Therapeutics from $40.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, February 8th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Arcturus Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $64.86.

Arcturus Therapeutics Trading Up 6.2 %

The stock has a market cap of $1.18 billion, a P/E ratio of -11.22 and a beta of 2.76. The stock’s fifty day moving average price is $30.59 and its 200 day moving average price is $31.92.

Arcturus Therapeutics (NASDAQ:ARCT) last announced its quarterly earnings results on Wednesday, May 8th. The biotechnology company reported ($1.00) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.17) by $0.17. Arcturus Therapeutics had a negative return on equity of 37.61% and a negative net margin of 81.59%. The firm had revenue of $38.01 million for the quarter, compared to the consensus estimate of $22.12 million. As a group, sell-side analysts forecast that Arcturus Therapeutics Holdings Inc. will post -4.39 earnings per share for the current year.

Insider Activity

In other news, COO Pad Chivukula sold 17,435 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $35.02, for a total transaction of $610,573.70. Following the completion of the transaction, the chief operating officer now directly owns 473,448 shares of the company’s stock, valued at $16,580,148.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 52,000 shares of company stock valued at $1,950,694 in the last 90 days. 13.80% of the stock is currently owned by insiders.

Institutional Trading of Arcturus Therapeutics

Hedge funds have recently bought and sold shares of the company. ARK Investment Management LLC lifted its holdings in Arcturus Therapeutics by 7.7% during the fourth quarter. ARK Investment Management LLC now owns 2,047,687 shares of the biotechnology company’s stock valued at $64,564,000 after purchasing an additional 146,141 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Arcturus Therapeutics by 11.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,088,930 shares of the biotechnology company’s stock valued at $34,336,000 after buying an additional 115,087 shares during the period. FMR LLC raised its holdings in shares of Arcturus Therapeutics by 8.6% in the third quarter. FMR LLC now owns 940,281 shares of the biotechnology company’s stock valued at $24,024,000 after acquiring an additional 74,081 shares in the last quarter. Granahan Investment Management LLC lifted its stake in Arcturus Therapeutics by 12.9% in the fourth quarter. Granahan Investment Management LLC now owns 450,366 shares of the biotechnology company’s stock worth $14,200,000 after acquiring an additional 51,504 shares during the period. Finally, Great Lakes Advisors LLC purchased a new position in Arcturus Therapeutics during the 4th quarter valued at about $6,531,000. 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.