Analysts Set Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) Price Target at $24.25

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) has been assigned an average rating of “Moderate Buy” from the ten ratings firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $20.00.

A number of equities research analysts recently commented on the stock. Wall Street Zen raised shares of Arcturus Therapeutics from a “strong sell” rating to a “sell” rating in a report on Sunday, August 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcturus Therapeutics in a report on Friday, July 17th.

Arcturus Therapeutics Stock Performance

NASDAQ ARCT opened at $13.45 on Monday. The company has a market capitalization of $382.25 million, a PE ratio of -4.06 and a beta of 2.39. Arcturus Therapeutics has a 52-week low of $5.50 and a 52-week high of $24.17. The company has a 50-day simple moving average of $7.09 and a 200 day simple moving average of $7.49.

Arcturus Therapeutics (NASDAQ:ARCT) last released its earnings results on Thursday, August 6th. The biotechnology company reported ($0.84) earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $2.96 million for the quarter, compared to analysts’ expectations of $3.11 million. As a group, analysts forecast that Arcturus Therapeutics will post -3.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ARCT. BlackRock Inc. purchased a new position in shares of Arcturus Therapeutics in the second quarter worth about $17,566,000. ARK Investment Management LLC boosted its holdings in Arcturus Therapeutics by 39.4% in the 4th quarter. ARK Investment Management LLC now owns 2,611,099 shares of the biotechnology company’s stock worth $16,006,000 after buying an additional 738,378 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Arcturus Therapeutics by 1,371.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 552,179 shares of the biotechnology company’s stock worth $10,177,000 after buying an additional 514,652 shares during the period. Millennium Management LLC purchased a new position in Arcturus Therapeutics in the 1st quarter valued at approximately $4,892,000. Finally, Bank of America Corp DE grew its stake in Arcturus Therapeutics by 112.0% in the 3rd quarter. Bank of America Corp DE now owns 620,055 shares of the biotechnology company’s stock valued at $11,428,000 after buying an additional 327,626 shares in the last quarter. Hedge funds and other institutional investors own 94.54% of the company’s stock.

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.