Arcturus Therapeutics (NASDAQ:ARCT) Price Target Cut to $7.00 by Analysts at Citigroup

Arcturus Therapeutics (NASDAQ:ARCT) had its price target cut by investment analysts at Citigroup from $9.00 to $7.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the biotechnology company’s stock. Citigroup’s price objective would indicate a potential upside of 7.54% from the stock’s previous close.

Other research analysts have also issued reports about the stock. BTIG Research dropped their price objective on shares of Arcturus Therapeutics from $48.00 to $23.00 and set a “buy” rating on the stock in a research note on Wednesday, October 22nd. Piper Sandler cut their target price on Arcturus Therapeutics from $140.00 to $72.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 11th. Wall Street Zen downgraded Arcturus Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcturus Therapeutics in a report on Wednesday, October 8th. Finally, Zacks Research downgraded shares of Arcturus Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 24th. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Arcturus Therapeutics has an average rating of “Moderate Buy” and an average target price of $35.75.

Arcturus Therapeutics Trading Up 2.2%

ARCT traded up $0.14 during trading on Tuesday, reaching $6.51. 224,862 shares of the company’s stock were exchanged, compared to its average volume of 376,070. The stock has a market capitalization of $184.92 million, a PE ratio of -2.65 and a beta of 2.24. Arcturus Therapeutics has a one year low of $5.85 and a one year high of $24.17. The firm has a fifty day moving average price of $7.25 and a two-hundred day moving average price of $13.20.

Arcturus Therapeutics (NASDAQ:ARCT) last posted its quarterly earnings data on Monday, November 10th. The biotechnology company reported ($0.49) EPS for the quarter, beating analysts’ consensus estimates of ($1.09) by $0.60. Arcturus Therapeutics had a negative net margin of 68.35% and a negative return on equity of 28.68%. The company had revenue of $17.15 million for the quarter, compared to analyst estimates of $17.47 million. Sell-side analysts expect that Arcturus Therapeutics will post -2.22 earnings per share for the current year.

Hedge Funds Weigh In On Arcturus Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its position in shares of Arcturus Therapeutics by 9.1% during the first quarter. Goldman Sachs Group Inc. now owns 509,712 shares of the biotechnology company’s stock valued at $5,398,000 after buying an additional 42,636 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Arcturus Therapeutics during the 1st quarter valued at approximately $299,000. Public Employees Retirement System of Ohio purchased a new position in shares of Arcturus Therapeutics during the 2nd quarter worth approximately $240,000. Jacobs Levy Equity Management Inc. raised its position in shares of Arcturus Therapeutics by 20.6% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 144,141 shares of the biotechnology company’s stock worth $1,526,000 after acquiring an additional 24,583 shares in the last quarter. Finally, Corton Capital Inc. purchased a new position in shares of Arcturus Therapeutics in the 2nd quarter valued at approximately $174,000. 94.54% of the stock is currently owned by hedge funds and other institutional investors.

About Arcturus Therapeutics

Arcturus Therapeutics Holdings Inc is a clinical-stage biotechnology company dedicated to developing messenger RNA (mRNA) medicines that address a range of diseases. The company leverages its proprietary STARR® mRNA platform to enable precise control over mRNA expression, supported by its lipid nanoparticle delivery technology, LUNAR®. Arcturus’s approach is designed to address both therapeutic and prophylactic applications, with an emphasis on vaccines and treatments for rare genetic and infectious diseases.

The company’s pipeline includes ARCT-810, an mRNA therapeutic candidate for phenylketonuria (PKU), and ARCT-021 (also known as LUNAR-COV19), a COVID-19 vaccine candidate developed in collaboration with Duke-NUS Medical School in Singapore.