Arcturus Therapeutics (NASDAQ:ARCT) Shares Cross Below 200-Day Moving Average – Here’s Why

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.22 and traded as low as $7.00. Arcturus Therapeutics shares last traded at $7.02, with a volume of 484,139 shares trading hands.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Wall Street Zen downgraded Arcturus Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Wells Fargo & Company cut their target price on Arcturus Therapeutics from $42.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, October 23rd. BTIG Research lowered their price target on shares of Arcturus Therapeutics from $48.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, October 22nd. Citigroup dropped their price objective on shares of Arcturus Therapeutics from $9.00 to $7.00 and set a “neutral” rating on the stock in a report on Tuesday, January 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Arcturus Therapeutics in a research report on Wednesday, January 21st. Eight equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $34.00.

Arcturus Therapeutics Stock Performance

The business’s 50 day moving average price is $6.97 and its two-hundred day moving average price is $12.22. The company has a market capitalization of $199.44 million, a price-to-earnings ratio of -2.85 and a beta of 2.39.

Arcturus Therapeutics (NASDAQ:ARCT) last announced its quarterly earnings data on Monday, November 10th. The biotechnology company reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($1.09) by $0.60. Arcturus Therapeutics had a negative return on equity of 28.68% and a negative net margin of 68.35%.The business had revenue of $17.15 million during the quarter, compared to analyst estimates of $17.47 million. On average, sell-side analysts expect that Arcturus Therapeutics Holdings Inc. will post -2.22 earnings per share for the current year.

Institutional Investors Weigh In On Arcturus Therapeutics

Several hedge funds have recently made changes to their positions in ARCT. Kennedy Capital Management LLC grew its position in Arcturus Therapeutics by 4.9% during the 2nd quarter. Kennedy Capital Management LLC now owns 11,674 shares of the biotechnology company’s stock worth $152,000 after purchasing an additional 544 shares in the last quarter. Osaic Holdings Inc. boosted its position in shares of Arcturus Therapeutics by 51.8% in the second quarter. Osaic Holdings Inc. now owns 2,163 shares of the biotechnology company’s stock worth $28,000 after buying an additional 738 shares during the period. CANADA LIFE ASSURANCE Co grew its holdings in shares of Arcturus Therapeutics by 27.5% during the third quarter. CANADA LIFE ASSURANCE Co now owns 7,272 shares of the biotechnology company’s stock valued at $136,000 after buying an additional 1,567 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Arcturus Therapeutics by 0.7% during the second quarter. Bank of America Corp DE now owns 292,429 shares of the biotechnology company’s stock valued at $3,805,000 after buying an additional 2,098 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its stake in Arcturus Therapeutics by 42.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,760 shares of the biotechnology company’s stock worth $143,000 after acquiring an additional 2,313 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 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.