Arcturus Therapeutics Holdings Inc. $ARCT Holdings Decreased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its stake in Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) by 14.0% during the third quarter, Holdings Channel.com reports. The fund owned 1,689,107 shares of the biotechnology company’s stock after selling 274,016 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.06% of Arcturus Therapeutics worth $23,124,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. acquired a new position in Arcturus Therapeutics during the second quarter valued at approximately $17,566,000. Amova Asset Management Americas Inc. grew its stake in 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 valued at $17,648,000 after purchasing an additional 262,347 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in Arcturus Therapeutics by 23.8% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 346,207 shares of the biotechnology company’s stock valued at $2,327,000 after purchasing an additional 66,528 shares in the last quarter. Heartland Advisors Inc. bought a new position in Arcturus Therapeutics in the first quarter valued at approximately $1,976,000. Finally, Renaissance Technologies LLC increased its position in shares of Arcturus Therapeutics by 48.7% during the 1st quarter. Renaissance Technologies LLC now owns 178,300 shares of the biotechnology company’s stock worth $1,376,000 after purchasing an additional 58,395 shares during the last quarter. Institutional investors own 94.54% of the company’s stock.

Arcturus Therapeutics Stock Performance

Shares of ARCT stock opened at $9.36 on Friday. The firm’s 50-day moving average is $13.22 and its 200-day moving average is $9.04. The stock has a market cap of $266.01 million, a price-to-earnings ratio of -2.83 and a beta of 2.62. Arcturus Therapeutics Holdings Inc. has a 52-week low of $5.50 and a 52-week high of $17.96.

Arcturus Therapeutics (NASDAQ:ARCT) last issued its earnings results on Thursday, November 5th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.69) by $0.43. Arcturus Therapeutics had a negative net margin of 317.62% and a negative return on equity of 46.54%. The business had revenue of $18.30 million during the quarter, compared to the consensus estimate of $8.00 million. Sell-side analysts predict that Arcturus Therapeutics Holdings Inc. will post -3.48 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ARCT. Roth Capital reiterated a “buy” rating and set a $41.00 price objective on shares of Arcturus Therapeutics in a research note on Wednesday, September 2nd. Citigroup raised Arcturus Therapeutics from a “neutral” rating to a “buy” rating and increased their price objective for the company from $8.00 to $20.00 in a report on Thursday, September 24th. BTIG Research decreased their target price on shares of Arcturus Therapeutics from $23.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, September 24th. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcturus Therapeutics in a research note on Thursday, September 24th. Finally, Wall Street Zen downgraded shares of Arcturus Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, October 4th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Arcturus Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $22.29.

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.