HC Wainwright Lowers Arcturus Therapeutics (NASDAQ:ARCT) Price Target to $9.00

Arcturus Therapeutics (NASDAQ:ARCT) had its target price dropped by equities researchers at HC Wainwright from $12.00 to $9.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the biotechnology company’s stock. HC Wainwright’s price objective suggests a potential upside of 3.21% from the company’s current price.

A number of other equities analysts have also recently commented on ARCT. Wells Fargo & Company lowered their price target on Arcturus Therapeutics from $42.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, October 23rd. Guggenheim downgraded Arcturus Therapeutics from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 22nd. Wall Street Zen cut shares of Arcturus Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. Leerink Partners decreased their price target on shares of Arcturus Therapeutics from $63.00 to $54.00 and set an “outperform” rating on the stock in a report on Friday, August 22nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Arcturus Therapeutics in a research note on Wednesday, October 8th. Six 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, the company presently has an average rating of “Hold” and an average price target of $31.29.

Arcturus Therapeutics Trading Down 0.7%

ARCT stock traded down $0.06 during mid-day trading on Tuesday, hitting $8.72. The stock had a trading volume of 215,421 shares, compared to its average volume of 676,253. The firm has a fifty day simple moving average of $16.92 and a 200 day simple moving average of $14.74. The firm has a market capitalization of $236.79 million, a P/E ratio of -3.89 and a beta of 2.47. Arcturus Therapeutics has a 52 week low of $7.93 and a 52 week high of $24.17.

Arcturus Therapeutics (NASDAQ:ARCT) last posted its quarterly earnings results on Monday, November 10th. The biotechnology company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.09) by $0.60. The business had revenue of $17.15 million for the quarter, compared to analyst estimates of $17.47 million. Arcturus Therapeutics had a negative net margin of 49.26% and a negative return on equity of 24.87%. As a group, equities analysts expect that Arcturus Therapeutics will post -2.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arcturus Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Osaic Holdings Inc. increased its position in Arcturus Therapeutics by 51.8% in the 2nd quarter. Osaic Holdings Inc. now owns 2,163 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 738 shares during the period. US Bancorp DE grew its stake 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 worth $36,000 after purchasing an additional 2,329 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in 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. Compagnie Lombard Odier SCmA bought a new position in Arcturus Therapeutics during the 3rd quarter worth $111,000. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in Arcturus Therapeutics by 42.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,760 shares of the biotechnology company’s stock worth $143,000 after buying an additional 2,313 shares during the period. 94.54% of the stock is currently owned by institutional investors and hedge funds.

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.