Arcturus Therapeutics (NASDAQ:ARCT) Stock Rating Raised to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Arcturus Therapeutics (NASDAQ:ARCT) from a sell rating to a hold rating in a research note published on Saturday morning,Wall Street Zen reports.

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

Arcturus Therapeutics Trading Down 1.9%

Shares of ARCT opened at $13.85 on Friday. The company’s 50-day moving average price is $11.21 and its 200 day moving average price is $8.83. Arcturus Therapeutics has a 12-month low of $5.50 and a 12-month high of $24.17. The firm has a market cap of $393.62 million, a P/E ratio of -4.18 and a beta of 2.48.

Arcturus Therapeutics (NASDAQ:ARCT) last announced its earnings results on Friday, August 7th. The biotechnology company reported ($0.84) earnings per share 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. Equities research analysts forecast that Arcturus Therapeutics will post -3.48 earnings per share for the current year.

Institutional Trading of Arcturus Therapeutics

Hedge funds have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in shares of Arcturus Therapeutics in the second quarter valued at approximately $17,566,000. Amova Asset Management Americas Inc. lifted its holdings in Arcturus Therapeutics by 12.9% during 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 buying an additional 262,347 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Arcturus Therapeutics by 12.9% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,288,935 shares of the biotechnology company’s stock worth $17,671,000 after buying an additional 262,347 shares in the last quarter. Heartland Advisors Inc. purchased a new position in Arcturus Therapeutics in the 1st quarter valued at approximately $1,976,000. Finally, Bank of New York Mellon Corp purchased a new position in Arcturus Therapeutics in the 2nd quarter valued at approximately $540,000. Institutional investors and hedge funds own 94.54% of the company’s stock.

Arcturus Therapeutics Company Profile

Arcturus Therapeutics Holdings Inc is a biotechnology company focused on developing medicines based on messenger RNA (mRNA) and other RNA technologies. The company’s platform includes LUNAR, a lipid-mediated delivery system designed to transport nucleic acid medicines into targeted cells, and STARR, a self-amplifying mRNA technology intended to produce therapeutic proteins from relatively small doses of RNA.

Arcturus is developing RNA-based candidates for rare diseases, infectious diseases, and other conditions.