Zacks Research Upgrades Arcturus Therapeutics (NASDAQ:ARCT) to “Strong-Buy”

Arcturus Therapeutics (NASDAQ:ARCT) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday, Zacks reports.

ARCT has been the topic of several other research reports. Cantor Fitzgerald restated an “overweight” rating on shares of Arcturus Therapeutics in a research note on Thursday, September 24th. Leerink Partners increased their target price 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. Citigroup raised shares of Arcturus Therapeutics from a “neutral” rating to a “buy” rating and lifted their price target for the company from $8.00 to $20.00 in a report on Thursday, September 24th. Wall Street Zen lowered shares of Arcturus Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, October 4th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Arcturus Therapeutics in a report on Thursday, October 15th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.29.

Arcturus Therapeutics Trading Down 3.1%

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 business’s 50 day moving average is $13.52 and its 200-day moving average is $9.55. The firm 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 announced its quarterly earnings results on Friday, August 7th. The biotechnology company reported ($0.84) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.16. Arcturus Therapeutics had a negative return on equity of 46.54% and a negative net margin of 317.62%. The business had revenue of $2.96 million for the quarter, compared to analyst estimates of $3.11 million. Sell-side analysts forecast that Arcturus Therapeutics will post -3.48 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Green Alpha Advisors LLC increased its position in Arcturus Therapeutics by 7.9% in the 3rd quarter. Green Alpha Advisors LLC now owns 29,234 shares of the biotechnology company’s stock valued at $400,000 after acquiring an additional 2,143 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Arcturus Therapeutics by 648.6% in the third quarter. Versant Capital Management Inc now owns 3,032 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 2,627 shares during the last quarter. Squarepoint Ops LLC lifted its position in shares of Arcturus Therapeutics by 264.8% during the second quarter. Squarepoint Ops LLC now owns 50,253 shares of the biotechnology company’s stock worth $338,000 after purchasing an additional 36,479 shares in the last quarter. Corient Private Wealth LP acquired a new position in shares of Arcturus Therapeutics during the second quarter worth approximately $117,000. Finally, Two Sigma Securities LLC acquired a new position in shares of Arcturus Therapeutics during the second quarter worth approximately $80,000. Institutional investors and hedge funds own 94.54% of the company’s stock.

Arcturus Therapeutics Company Profile

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.