Arcturus Therapeutics (NASDAQ:ARCT) Stock Price Passes Below Fifty Day Moving Average – What’s Next?

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) shares crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $7.56 and traded as low as $7.30. Arcturus Therapeutics shares last traded at $7.60, with a volume of 408,000 shares changing hands.

Analysts Set New Price Targets

ARCT has been the topic of several analyst reports. Weiss Ratings upgraded Arcturus Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, April 21st. B. Riley Financial assumed coverage on Arcturus Therapeutics in a report on Wednesday, March 18th. They set a “buy” rating and a $22.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $24.25.

Arcturus Therapeutics Stock Up 3.4%

The stock has a market capitalization of $215.99 million, a PE ratio of -2.70 and a beta of 2.37. The firm’s fifty day moving average is $7.56 and its 200-day moving average is $7.46.

Arcturus Therapeutics (NASDAQ:ARCT) last announced its quarterly earnings data on Friday, May 8th. The biotechnology company reported ($0.95) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.03) by $0.08. Arcturus Therapeutics had a negative return on equity of 36.55% and a negative net margin of 143.80%.The company had revenue of $2.06 million for the quarter, compared to analyst estimates of $6.30 million. On average, analysts expect that Arcturus Therapeutics Holdings Inc. will post -3.99 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC acquired a new stake in Arcturus Therapeutics in the first quarter valued at $128,000. Millennium Management LLC purchased a new stake in shares of Arcturus Therapeutics during the 1st quarter worth $4,892,000. Goldman Sachs Group Inc. grew its stake in shares of Arcturus Therapeutics by 9.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 509,712 shares of the biotechnology company’s stock worth $5,398,000 after purchasing an additional 42,636 shares during the period. Acadian Asset Management LLC acquired a new position in shares of Arcturus Therapeutics during the 1st quarter worth $701,000. Finally, Strs Ohio purchased a new position in shares of Arcturus Therapeutics in the 1st quarter valued at about $89,000. Institutional investors and hedge funds own 94.54% of the company’s stock.

About Arcturus Therapeutics

Arcturus Therapeutics Holdings Inc is a clinical-stage biotechnology company dedicated to developing messenger RNA (mRNA) medicines that address a range of diseases. The company leverages its proprietary STARR® mRNA platform to enable precise control over mRNA expression, supported by its lipid nanoparticle delivery technology, LUNAR®. Arcturus’s approach is designed to address both therapeutic and prophylactic applications, with an emphasis on vaccines and treatments for rare genetic and infectious diseases.

The company’s pipeline includes ARCT-810, an mRNA therapeutic candidate for phenylketonuria (PKU), and ARCT-021 (also known as LUNAR-COV19), a COVID-19 vaccine candidate developed in collaboration with Duke-NUS Medical School in Singapore.