Wall Street Zen Upgrades Arcturus Therapeutics (NASDAQ:ARCT) to “Hold”

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

Other research analysts also recently issued research reports about the company. Leerink Partners lifted their price target on Arcturus Therapeutics from $13.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, October 9th. Roth Capital reissued a “buy” rating and issued a $41.00 price objective on shares of Arcturus Therapeutics in a research note on Wednesday, September 2nd. BTIG Research reduced their price objective on Arcturus Therapeutics from $23.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, September 24th. Zacks Research upgraded Arcturus Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 21st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcturus Therapeutics in a research note on Thursday, September 24th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.29.

Arcturus Therapeutics Stock Performance

Shares of NASDAQ:ARCT opened at $10.35 on Friday. The company has a market cap of $294.15 million, a PE ratio of -3.36 and a beta of 2.62. Arcturus Therapeutics has a 52 week low of $5.50 and a 52 week high of $17.96. The firm has a 50 day simple moving average of $13.10 and a 200 day simple moving average of $9.05.

Arcturus Therapeutics (NASDAQ:ARCT) last posted its quarterly earnings data on Thursday, November 5th. The biotechnology company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.43. Arcturus Therapeutics had a negative net margin of 285.92% and a negative return on equity of 46.79%. The firm had revenue of $18.30 million during the quarter, compared to analyst estimates of $8.00 million. On average, equities analysts predict that Arcturus Therapeutics will post -3.48 earnings per share for the current year.

Hedge Funds Weigh In On Arcturus Therapeutics

Hedge funds have recently modified their holdings of the stock. Versant Capital Management Inc lifted its holdings in shares of Arcturus Therapeutics by 648.6% during the 3rd quarter. Versant Capital Management Inc now owns 3,032 shares of the biotechnology company’s stock valued at $42,000 after buying an additional 2,627 shares during the last quarter. Two Sigma Securities LLC bought a new position in Arcturus Therapeutics during the second quarter valued at approximately $80,000. ADAR1 Capital Management LLC bought a new position in shares of Arcturus Therapeutics during the 1st quarter valued at $116,000. Diversify Wealth Management LLC acquired a new stake in shares of Arcturus Therapeutics in the first quarter worth about $133,000. Finally, Diversify Advisory Services LLC acquired a new stake in Arcturus Therapeutics in the 2nd quarter worth approximately $91,000. 94.54% of the stock is owned by institutional investors and hedge funds.

About Arcturus Therapeutics

Arcturus Therapeutics Holdings Inc is a biotechnology company headquartered in San Diego, California, 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 acids into cells, as well as technologies for producing and administering mRNA and self-amplifying RNA.

The company’s development programs address infectious diseases and rare genetic disorders. Arcturus has developed KOSTAIVE, a self-amplifying mRNA COVID-19 vaccine known as ARCT-154, in collaboration with CSL.