Arcturus Therapeutics (NASDAQ:ARCT) Rating Lowered to “Sell” at Wall Street Zen

Arcturus Therapeutics (NASDAQ:ARCT) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Sunday, Wall Street Zen reports.

A number of other analysts have also recently weighed in on ARCT. BTIG Research decreased their price target on shares of Arcturus Therapeutics from $23.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, September 24th. Cantor Fitzgerald restated an “overweight” rating on shares of Arcturus Therapeutics in a research note on Thursday, September 24th. Citigroup raised Arcturus Therapeutics from a “neutral” rating to a “buy” rating and upped their target price for the stock from $8.00 to $20.00 in a research report on Thursday, September 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcturus Therapeutics in a research note on Friday, July 17th. Finally, Roth Capital reiterated a “buy” rating and set a $41.00 target price on shares of Arcturus Therapeutics in a report on Wednesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.43.

Arcturus Therapeutics Stock Up 12.5%

Shares of ARCT stock opened at $14.66 on Friday. The stock has a market cap of $416.64 million, a price-to-earnings ratio of -4.43 and a beta of 2.48. Arcturus Therapeutics has a fifty-two week low of $5.50 and a fifty-two week high of $24.17. The firm’s 50 day moving average price is $12.17 and its two-hundred day moving average price is $9.13.

Arcturus Therapeutics (NASDAQ:ARCT) last released its quarterly earnings data on Friday, August 7th. The biotechnology company reported ($0.84) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.00) by $0.16. Arcturus Therapeutics had a negative net margin of 317.62% and a negative return on equity of 46.54%. The company had revenue of $2.96 million during the quarter, compared to analyst estimates of $3.11 million. On average, equities analysts forecast that Arcturus Therapeutics will post -3.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Arcturus Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Arcturus Therapeutics in the 2nd quarter valued at about $17,566,000. Amova Asset Management Americas Inc. grew its position in shares of Arcturus Therapeutics by 12.9% in the 1st quarter. Amova Asset Management Americas Inc. now owns 2,288,935 shares of the biotechnology company’s stock worth $17,648,000 after acquiring an additional 262,347 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Arcturus Therapeutics by 12.9% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,288,935 shares of the biotechnology company’s stock valued at $17,671,000 after acquiring an additional 262,347 shares during the last quarter. Heartland Advisors Inc. acquired a new stake in shares of Arcturus Therapeutics during the 1st quarter valued at approximately $1,976,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Arcturus Therapeutics during the 2nd quarter valued at approximately $540,000. Hedge funds and other institutional investors own 94.54% of the company’s stock.

About Arcturus Therapeutics

Arcturus Therapeutics Holdings Inc is a biotechnology company focused on developing medicines based on messenger RNA (mRNA) and other RNA technologies. Headquartered in San Diego, California, the company uses its proprietary LUNAR lipid-mediated delivery platform and STX self-amplifying mRNA technology to design and deliver RNA-based therapeutics and vaccines.

The company’s research and development activities address rare diseases, infectious diseases, respiratory conditions and other areas of significant unmet medical need.