Arcturus Therapeutics (NASDAQ:ARCT) Shares Up 3.4%

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT)’s share price shot up 3.4% on Tuesday . The company traded as high as $30.42 and last traded at $30.32. 97,867 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 448,974 shares. The stock had previously closed at $29.31.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ARCT. Citigroup upped their price objective on shares of Arcturus Therapeutics from $40.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, February 8th. HC Wainwright restated a “buy” rating and set a $60.00 price target on shares of Arcturus Therapeutics in a research report on Wednesday, March 20th. Finally, William Blair restated an “outperform” rating on shares of Arcturus Therapeutics in a research report on Friday, March 8th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.33.

Arcturus Therapeutics Stock Down 8.3 %

The firm’s 50 day moving average price is $35.61 and its two-hundred day moving average price is $29.77.

Arcturus Therapeutics (NASDAQ:ARCT) last posted its quarterly earnings results on Thursday, March 7th. The biotechnology company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($1.69) by $1.37. Arcturus Therapeutics had a negative net margin of 15.65% and a negative return on equity of 18.22%. The business had revenue of $33.99 million during the quarter, compared to analysts’ expectations of $64.14 million. As a group, sell-side analysts forecast that Arcturus Therapeutics Holdings Inc. will post -1.42 earnings per share for the current year.

Insider Activity

In related news, COO Pad Chivukula sold 17,435 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $35.02, for a total transaction of $610,573.70. Following the completion of the transaction, the chief operating officer now owns 473,448 shares of the company’s stock, valued at approximately $16,580,148.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 13.80% of the company’s stock.

Hedge Funds Weigh In On Arcturus Therapeutics

A number of hedge funds have recently made changes to their positions in ARCT. State Street Corp lifted its holdings in Arcturus Therapeutics by 56.5% during the 1st quarter. State Street Corp now owns 3,217,957 shares of the biotechnology company’s stock worth $86,756,000 after buying an additional 1,161,883 shares in the last quarter. Bank of America Corp DE lifted its holdings in Arcturus Therapeutics by 535.2% during the 4th quarter. Bank of America Corp DE now owns 685,954 shares of the biotechnology company’s stock worth $11,634,000 after buying an additional 577,968 shares in the last quarter. Balyasny Asset Management LLC lifted its holdings in Arcturus Therapeutics by 3,039.8% during the 3rd quarter. Balyasny Asset Management LLC now owns 339,383 shares of the biotechnology company’s stock worth $5,030,000 after buying an additional 328,574 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Arcturus Therapeutics during the 2nd quarter worth approximately $7,620,000. Finally, Woodline Partners LP lifted its holdings in Arcturus Therapeutics by 30.7% during the 2nd quarter. Woodline Partners LP now owns 1,069,814 shares of the biotechnology company’s stock worth $30,682,000 after buying an additional 251,376 shares in the last quarter. Hedge funds and other institutional investors own 94.54% of the company’s stock.

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.