Arcturus Therapeutics (NASDAQ:ARCT) Trading 13.7% Higher – Here’s What Happened

Shares of Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) rose 13.7% on Thursday . The stock traded as high as $17.78 and last traded at $17.7340. 423,802 shares traded hands during trading, a decline of 30% from the average daily volume of 604,122 shares. The stock had previously closed at $15.60.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ARCT shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcturus Therapeutics in a research note on Friday, July 17th. Wall Street Zen upgraded shares of Arcturus Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Sunday, August 9th. Finally, Roth Capital reaffirmed a “buy” rating and set a $41.00 price objective on shares of Arcturus Therapeutics in a report on Wednesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $23.00.

Arcturus Therapeutics Stock Performance

The firm’s 50 day simple moving average is $10.44 and its 200-day simple moving average is $8.60. The company has a market cap of $455.62 million, a price-to-earnings ratio of -4.84 and a beta of 2.48.

Arcturus Therapeutics (NASDAQ:ARCT) last issued its earnings results on Friday, August 7th. The biotechnology company reported ($0.84) EPS for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.16. The business had revenue of $2.96 million during the quarter, compared to analysts’ expectations of $3.11 million. Arcturus Therapeutics had a negative net margin of 317.62% and a negative return on equity of 46.54%. As a group, sell-side analysts expect that Arcturus Therapeutics Holdings Inc. will post -3.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Arcturus Therapeutics during the 2nd quarter worth approximately $17,566,000. Amova Asset Management Americas Inc. increased its holdings in shares of Arcturus Therapeutics by 12.9% in the first quarter. Amova Asset Management Americas Inc. now owns 2,288,935 shares of the biotechnology company’s stock valued at $17,648,000 after purchasing an additional 262,347 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in Arcturus Therapeutics by 12.9% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,288,935 shares of the biotechnology company’s stock worth $17,671,000 after buying an additional 262,347 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in Arcturus Therapeutics by 23.8% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 346,207 shares of the biotechnology company’s stock worth $2,327,000 after buying an additional 66,528 shares in the last quarter. Finally, Heartland Advisors Inc. acquired a new position in Arcturus Therapeutics during the first quarter worth $1,976,000. 94.54% of the stock is owned by hedge funds and other institutional investors.

Arcturus Therapeutics Company Profile

Arcturus Therapeutics Holdings Inc is a biotechnology company focused on developing medicines based on messenger RNA (mRNA) and other RNA technologies. The company’s platform includes LUNAR, a lipid-mediated delivery system designed to transport nucleic acid medicines into targeted cells, and STARR, a self-amplifying mRNA technology intended to produce therapeutic proteins from relatively small doses of RNA.

Arcturus is developing RNA-based candidates for rare diseases, infectious diseases, and other conditions.