Arcturus Therapeutics (NASDAQ:ARCT) Stock Moved Up to “Strong-Buy” by Zacks Research

Zacks Research upgraded shares of Arcturus Therapeutics (NASDAQ:ARCT) from a hold rating to a strong-buy rating in a report published on Wednesday morning,Zacks reports.

A number of other analysts have also recently weighed in on ARCT. Weiss Ratings restated a “sell (d-)” rating on shares of Arcturus Therapeutics in a report on Thursday, October 15th. Leerink Partners lifted their price objective on shares of Arcturus Therapeutics from $13.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, October 9th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcturus Therapeutics in a research note on Thursday, September 24th. Roth Capital reissued a “buy” rating and set a $41.00 target price on shares of Arcturus Therapeutics in a research report on Wednesday, September 2nd. Finally, Wall Street Zen cut shares of Arcturus Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, October 4th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $22.29.

Arcturus Therapeutics Price Performance

Shares of ARCT stock opened at $10.73 on Wednesday. Arcturus Therapeutics has a 1-year low of $5.50 and a 1-year high of $17.96. The stock’s 50-day moving average is $13.52 and its 200 day moving average is $9.55. The company has a market cap of $304.95 million, a P/E ratio of -3.24 and a beta of 2.48.

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

Institutional Trading of Arcturus Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of Arcturus Therapeutics in the 2nd quarter valued at $17,566,000. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Arcturus Therapeutics by 12.9% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,288,935 shares of the biotechnology company’s stock worth $17,671,000 after acquiring an additional 262,347 shares during the period. Amova Asset Management Americas Inc. increased its stake in shares of Arcturus Therapeutics by 12.9% in the first quarter. Amova Asset Management Americas Inc. now owns 2,288,935 shares of the biotechnology company’s stock worth $17,648,000 after acquiring an additional 262,347 shares during the period. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Arcturus Therapeutics by 23.8% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 346,207 shares of the biotechnology company’s stock worth $2,327,000 after purchasing an additional 66,528 shares during the last quarter. Finally, Heartland Advisors Inc. purchased a new position in shares of Arcturus Therapeutics during the first quarter worth $1,976,000. 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 headquartered in San Diego, California, focused on developing medicines based on messenger RNA (mRNA) and other RNA technologies. The company’s platform includes LUNAR, a lipid-mediated delivery system designed to transport nucleic acids into cells, as well as technologies for producing and administering mRNA and self-amplifying RNA.

The company’s development programs address infectious diseases and rare genetic disorders. Arcturus has developed KOSTAIVE, a self-amplifying mRNA COVID-19 vaccine known as ARCT-154, in collaboration with CSL.