Arcturus Therapeutics (NASDAQ:ARCT) Shares Down 6.5%

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT)’s stock price dropped 6.5% during trading on Tuesday . The company traded as low as $32.52 and last traded at $32.52. Approximately 130,762 shares were traded during trading, a decline of 69% from the average daily volume of 427,619 shares. The stock had previously closed at $34.79.

Analyst Upgrades and Downgrades

ARCT has been the topic of a number of analyst reports. Canaccord Genuity Group initiated coverage on Arcturus Therapeutics in a research report on Wednesday, December 13th. They set a “buy” rating and a $90.00 target price on the stock. William Blair reiterated an “outperform” rating on shares of Arcturus Therapeutics in a report on Friday, March 8th. Canaccord Genuity Group assumed coverage on Arcturus Therapeutics in a report on Wednesday, December 13th. They issued a “buy” rating on the stock. Citigroup raised their target price on shares of Arcturus Therapeutics from $40.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. Finally, HC Wainwright reissued a “buy” rating and issued a $60.00 target price on shares of Arcturus Therapeutics in a research note on Wednesday, March 20th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $57.71.

Arcturus Therapeutics Price Performance

The company’s 50 day simple moving average is $36.19 and its 200 day simple moving average is $29.39. The firm has a market cap of $909.09 million, a price-to-earnings ratio of -32.47 and a beta of 2.64.

Insiders Place Their Bets

In related news, COO Pad Chivukula sold 17,435 shares of the business’s stock in a transaction 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 owns 473,448 shares in the company, valued at $16,580,148.96. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 13.80% of the company’s stock.

Hedge Funds Weigh In On Arcturus Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of ARCT. AJOVista LLC purchased a new stake in Arcturus Therapeutics in the fourth quarter valued at $65,000. New York State Teachers Retirement System purchased a new stake in Arcturus Therapeutics in the third quarter valued at $53,000. Quest Partners LLC purchased a new stake in Arcturus Therapeutics in the fourth quarter valued at $67,000. Great West Life Assurance Co. Can lifted its position in Arcturus Therapeutics by 29.9% in the first quarter. Great West Life Assurance Co. Can now owns 2,679 shares of the biotechnology company’s stock valued at $64,000 after acquiring an additional 616 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Arcturus Therapeutics in the fourth quarter valued at $89,000. Institutional investors and hedge funds 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.