Arcturus Therapeutics (NASDAQ:ARCT) Downgraded by Wall Street Zen to Sell

Wall Street Zen lowered shares of Arcturus Therapeutics (NASDAQ:ARCT) from a hold rating to a sell rating in a research report sent to investors on Sunday,Wall Street Zen reports.

Other research analysts also recently issued research reports about the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcturus Therapeutics in a research report on Thursday, September 24th. BTIG Research cut their price target on shares of Arcturus Therapeutics from $23.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, September 24th. Roth Capital reissued a “buy” rating and set a $41.00 price target on shares of Arcturus Therapeutics in a research report on Wednesday, September 2nd. Citigroup upgraded shares of Arcturus Therapeutics from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $8.00 to $20.00 in a research note on Thursday, September 24th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Arcturus Therapeutics in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Arcturus Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.43.

Arcturus Therapeutics Stock Performance

NASDAQ ARCT opened at $13.03 on Friday. Arcturus Therapeutics has a 52 week low of $5.50 and a 52 week high of $24.17. The stock’s 50 day moving average price is $11.99 and its two-hundred day moving average price is $9.07. The stock has a market capitalization of $370.31 million, a price-to-earnings ratio of -3.94 and a beta of 2.48.

Arcturus Therapeutics (NASDAQ:ARCT) last issued its quarterly earnings results on Friday, August 7th. The biotechnology company reported ($0.84) earnings per share for the quarter, topping the consensus estimate of ($1.00) by $0.16. Arcturus Therapeutics had a negative net margin of 317.62% and a negative return on equity of 46.54%. The company had revenue of $2.96 million during the quarter, compared to analysts’ expectations of $3.11 million. On average, equities research analysts forecast that Arcturus Therapeutics will post -3.48 EPS for the current year.

Hedge Funds Weigh In On Arcturus Therapeutics

A number of institutional investors have recently added to or reduced their stakes in ARCT. BlackRock Inc. bought a new position in shares of Arcturus Therapeutics in the 2nd quarter valued at about $17,566,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Arcturus Therapeutics by 12.9% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,288,935 shares of the biotechnology company’s stock valued at $17,671,000 after purchasing an additional 262,347 shares during the period. Heartland Advisors Inc. bought a new stake in shares of Arcturus Therapeutics in the 2nd quarter valued at about $1,474,000. Bank of New York Mellon Corp acquired a new stake in Arcturus Therapeutics in the 2nd quarter valued at about $540,000. Finally, Hsbc Holdings PLC acquired a new stake in Arcturus Therapeutics in the 2nd quarter valued at about $394,000. 94.54% of the stock is currently owned by institutional investors and hedge funds.

About Arcturus Therapeutics

Arcturus Therapeutics Holdings Inc is a biotechnology company focused on developing medicines based on messenger RNA (mRNA) and other RNA technologies. Headquartered in San Diego, California, the company uses its proprietary LUNAR lipid-mediated delivery platform and STX self-amplifying mRNA technology to design and deliver RNA-based therapeutics and vaccines.

The company’s research and development activities address rare diseases, infectious diseases, respiratory conditions and other areas of significant unmet medical need.