Arcturus Therapeutics (NASDAQ:ARCT) Trading Up 5.9% – Here’s Why

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) shares traded up 5.9% during mid-day trading on Tuesday . The stock traded as high as $20.71 and last traded at $20.19. 88,365 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 388,220 shares. The stock had previously closed at $19.07.

Analysts Set New Price Targets

Several research firms have commented on ARCT. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcturus Therapeutics in a research report on Monday, December 16th. HC Wainwright reiterated a “buy” rating and set a $63.00 price objective on shares of Arcturus Therapeutics in a research note on Tuesday. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Arcturus Therapeutics currently has a consensus rating of “Buy” and an average price target of $66.75.

Arcturus Therapeutics Price Performance

The stock’s fifty day simple moving average is $17.60 and its 200-day simple moving average is $20.20. The firm has a market cap of $513.30 million, a PE ratio of -8.54 and a beta of 2.63.

Arcturus Therapeutics (NASDAQ:ARCT) last issued its earnings results on Thursday, November 7th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.44. The company had revenue of $41.67 million during the quarter, compared to analyst estimates of $49.16 million. Arcturus Therapeutics had a negative return on equity of 22.39% and a negative net margin of 36.39%. During the same quarter last year, the business posted ($0.61) EPS. Analysts expect that Arcturus Therapeutics Holdings Inc. will post -2.31 earnings per share for the current year.

Insider Activity at Arcturus Therapeutics

In other news, COO Pad Chivukula sold 12,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $20.76, for a total value of $249,120.00. Following the completion of the transaction, the chief operating officer now owns 435,334 shares of the company’s stock, valued at $9,037,533.84. The trade was a 2.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 15.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ARCT. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Arcturus Therapeutics by 10.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,694 shares of the biotechnology company’s stock worth $202,000 after acquiring an additional 846 shares during the period. nVerses Capital LLC acquired a new position in Arcturus Therapeutics in the 3rd quarter worth about $42,000. China Universal Asset Management Co. Ltd. raised its holdings in Arcturus Therapeutics by 64.4% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,201 shares of the biotechnology company’s stock worth $121,000 after purchasing an additional 2,038 shares during the period. Nordea Investment Management AB boosted its position in Arcturus Therapeutics by 3.7% during the fourth quarter. Nordea Investment Management AB now owns 65,778 shares of the biotechnology company’s stock worth $1,097,000 after purchasing an additional 2,335 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Arcturus Therapeutics by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 197,622 shares of the biotechnology company’s stock valued at $4,587,000 after purchasing an additional 3,224 shares during the period. 94.54% of the stock is currently owned by hedge funds and other institutional investors.

About Arcturus Therapeutics

Arcturus Therapeutics Holdings Inc, a late-stage clinical messenger RNA medicines and vaccine company, focuses on the development of infectious disease vaccines and other products within liver and respiratory rare diseases. Its technology platforms include LUNAR lipid-mediated delivery and STARR mRNA.