Arcturus Therapeutics (NASDAQ:ARCT) Sets New 52-Week High – Here’s Why

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $24.17 and last traded at $23.16, with a volume of 2261431 shares traded. The stock had previously closed at $21.51.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ARCT shares. Wall Street Zen raised shares of Arcturus Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcturus Therapeutics in a research report on Wednesday, October 8th. Wells Fargo & Company decreased their target price on shares of Arcturus Therapeutics from $45.00 to $42.00 and set an “overweight” rating for the company in a research report on Tuesday, August 12th. Scotiabank reissued an “outperform” rating on shares of Arcturus Therapeutics in a research report on Wednesday, July 2nd. Finally, Leerink Partners decreased their target price 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. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.57.

Arcturus Therapeutics Price Performance

The stock’s 50 day simple moving average is $19.18 and its two-hundred day simple moving average is $14.74. The stock has a market capitalization of $629.03 million, a PE ratio of -10.39 and a beta of 2.39.

Arcturus Therapeutics (NASDAQ:ARCT) last posted its quarterly earnings results on Monday, August 11th. The biotechnology company reported ($0.34) earnings per share (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 company had revenue of $28.30 million for the quarter, compared to analyst estimates of $17.64 million. As a group, equities research analysts predict that Arcturus Therapeutics Holdings Inc. will post -2.22 earnings per share for the current fiscal year.

Institutional Trading of Arcturus Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Osaic Holdings Inc. raised its position in shares of Arcturus Therapeutics by 51.8% in the second quarter. Osaic Holdings Inc. now owns 2,163 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 738 shares during the period. US Bancorp DE raised its position in shares of Arcturus Therapeutics by 218.9% in the first quarter. US Bancorp DE now owns 3,393 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 2,329 shares during the period. BNP Paribas Financial Markets raised its position in shares of Arcturus Therapeutics by 163.4% in the second quarter. BNP Paribas Financial Markets now owns 4,169 shares of the biotechnology company’s stock valued at $54,000 after purchasing an additional 2,586 shares during the period. Strs Ohio bought a new stake in shares of Arcturus Therapeutics in the first quarter valued at approximately $89,000. Finally, Spire Wealth Management raised its position in shares of Arcturus Therapeutics by 76.0% in the second quarter. Spire Wealth Management now owns 9,955 shares of the biotechnology company’s stock valued at $130,000 after purchasing an additional 4,300 shares during the period. Institutional investors own 94.54% of the company’s stock.

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.