Arcturus Therapeutics (NASDAQ:ARCT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Arcturus Therapeutics (NASDAQ:ARCT) from a sell rating to a hold rating in a research report released on Saturday morning,Wall Street Zen reports.

A number of other equities research analysts also recently commented on ARCT. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcturus Therapeutics in a research report on Thursday, September 24th. Citigroup raised shares of Arcturus Therapeutics from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $8.00 to $20.00 in a research report on Thursday, September 24th. 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. BTIG Research lowered 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. Finally, Roth Capital reissued a “buy” rating and issued a $41.00 target price on shares of Arcturus Therapeutics in a report on Wednesday, September 2nd. Two 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.29.

Arcturus Therapeutics Stock Performance

ARCT stock opened at $9.49 on Friday. The company’s 50 day moving average price is $12.98 and its 200 day moving average price is $9.06. Arcturus Therapeutics has a fifty-two week low of $5.50 and a fifty-two 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 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 firm had revenue of $18.30 million for the quarter, compared to analysts’ expectations of $8.00 million. Equities analysts anticipate that Arcturus Therapeutics will post -3.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arcturus Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sumitomo Mitsui Trust Group Inc. increased its stake in 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 valued at $17,671,000 after purchasing an additional 262,347 shares during the last quarter. Amova Asset Management Americas Inc. lifted its position in shares of Arcturus Therapeutics by 12.9% during the 1st quarter. Amova Asset Management Americas Inc. now owns 2,288,935 shares of the biotechnology company’s stock worth $17,648,000 after buying an additional 262,347 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Arcturus Therapeutics in the 2nd quarter valued at $17,566,000. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Arcturus Therapeutics by 23.8% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 346,207 shares of the biotechnology company’s stock valued at $2,327,000 after buying an additional 66,528 shares in the last quarter. Finally, Heartland Advisors Inc. acquired a new position in shares of Arcturus Therapeutics in the 1st quarter valued at $1,976,000. 94.54% of the stock is 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.