Arcturus Therapeutics (ARCT) Downgraded by Zacks Investment Research to Hold

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Zacks Investment Research downgraded shares of Arcturus Therapeutics (NASDAQ:ARCT) from a buy rating to a hold rating in a report released on Tuesday.

According to Zacks, “Arcturus Therapeutics Ltd. is a preclinical-stage biopharmaceutical company. It focuses on the discovery, development and commercialization of RNA medicines using proprietary lipid-mediated delivery system LUNAR(TM) and UNA Oligomer chemistry technologies. Arcturus Therapeutics Ltd, formerly known as Alcobra Ltd, is based in San Diego, CA. “

ARCT has been the subject of several other research reports. Brookline Capital Management reissued a buy rating on shares of Arcturus Therapeutics in a report on Thursday, September 27th. ValuEngine lowered Arcturus Therapeutics from a buy rating to a hold rating in a report on Friday, December 21st. Finally, WBB Securities raised Arcturus Therapeutics from a buy rating to a strong-buy rating in a report on Thursday, September 20th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Buy and an average target price of $8.63.

NASDAQ:ARCT opened at $5.00 on Tuesday. Arcturus Therapeutics has a 52-week low of $4.11 and a 52-week high of $10.15. The stock has a market cap of $58.12 million, a price-to-earnings ratio of -1.42 and a beta of 1.93.

Arcturus Therapeutics (NASDAQ:ARCT) last released its quarterly earnings results on Wednesday, November 7th. The biotechnology company reported ($0.42) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.46) by $0.04. The company had revenue of $3.42 million for the quarter, compared to the consensus estimate of $3.75 million. On average, equities research analysts expect that Arcturus Therapeutics will post -1.9 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its stake in shares of Arcturus Therapeutics by 91.7% in the third quarter. JPMorgan Chase & Co. now owns 16,744 shares of the biotechnology company’s stock worth $148,000 after acquiring an additional 8,008 shares during the period. BlackRock Inc. bought a new position in shares of Arcturus Therapeutics in the second quarter worth about $169,000. Worth Venture Partners LLC bought a new position in shares of Arcturus Therapeutics in the third quarter worth about $290,000. Finally, ARK Investment Management LLC boosted its stake in shares of Arcturus Therapeutics by 45.0% in the third quarter. ARK Investment Management LLC now owns 773,772 shares of the biotechnology company’s stock worth $6,840,000 after acquiring an additional 239,999 shares during the period. 10.09% of the stock is owned by institutional investors and hedge funds.

Arcturus Therapeutics Company Profile

Arcturus Therapeutics Ltd., an RNA medicines company, develops nucleic acid medicines to treat diseases with unmet medical needs. Its RNA therapeutics platforms could be applied in various types of RNA medicines, including small interfering RNA, messenger RNA, replicon RNA, antisense RNA, microRNA, and gene editing therapeutics.

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