Piper Sandler Has Lowered Expectations for Arcturus Therapeutics (NASDAQ:ARCT) Stock Price

Arcturus Therapeutics (NASDAQ:ARCT) had its target price cut by equities researchers at Piper Sandler from $140.00 to $72.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the biotechnology company’s stock.

Several other research analysts also recently commented on ARCT. Leerink Partners reduced their target price on Arcturus Therapeutics from $63.00 to $54.00 and set an “outperform” rating for the company in a research note on Friday, August 22nd. Zacks Research downgraded shares of Arcturus Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 24th. HC Wainwright cut their target price on Arcturus Therapeutics from $12.00 to $9.00 and set a “neutral” rating on the stock in a report on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcturus Therapeutics in a research report on Wednesday, October 8th. Finally, Wall Street Zen downgraded Arcturus Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, October 25th. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $36.38.

Arcturus Therapeutics Price Performance

ARCT stock traded down $0.07 during mid-day trading on Tuesday, reaching $8.72. The company had a trading volume of 253,196 shares, compared to its average volume of 676,359. Arcturus Therapeutics has a 52 week low of $7.93 and a 52 week high of $24.17. The company has a market capitalization of $236.66 million, a price-to-earnings ratio of -3.91 and a beta of 2.47. The stock has a 50 day simple moving average of $16.92 and a two-hundred day simple moving average of $14.74.

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. Arcturus Therapeutics had a negative net margin of 49.26% and a negative return on equity of 24.87%. The firm had revenue of $17.15 million for the quarter, compared to analyst estimates of $17.47 million. On average, equities analysts predict that Arcturus Therapeutics will post -2.22 EPS for the current year.

Institutional Investors Weigh In On Arcturus Therapeutics

Large investors have recently modified their holdings of the stock. Osaic Holdings Inc. grew its stake in shares of Arcturus Therapeutics by 51.8% during the 2nd quarter. Osaic Holdings Inc. now owns 2,163 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 738 shares during the period. US Bancorp DE lifted its stake in shares of Arcturus Therapeutics by 218.9% during the 1st quarter. US Bancorp DE now owns 3,393 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 2,329 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Arcturus Therapeutics by 163.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 4,169 shares of the biotechnology company’s stock valued at $54,000 after buying an additional 2,586 shares in the last quarter. Strs Ohio purchased a new position in Arcturus Therapeutics in the 1st quarter valued at approximately $89,000. Finally, Compagnie Lombard Odier SCmA bought a new stake in Arcturus Therapeutics during the 3rd quarter valued at $111,000. 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.