Arcturus Therapeutics (NASDAQ:ARCT) Raised to “Strong-Buy” at B. Riley Financial

Arcturus Therapeutics (NASDAQ:ARCT) was upgraded by equities researchers at B. Riley Financial to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

Several other analysts have also recently commented on ARCT. Wall Street Zen cut shares of Arcturus Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. Piper Sandler cut their price objective on Arcturus Therapeutics from $72.00 to $25.00 and set an “overweight” rating for the company in a research report on Wednesday, March 4th. Roth Mkm started coverage on Arcturus Therapeutics in a report on Thursday, January 22nd. They issued a “buy” rating and a $20.00 target price on the stock. Citigroup dropped their price target on Arcturus Therapeutics from $66.00 to $21.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Arcturus Therapeutics in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.50.

Arcturus Therapeutics Price Performance

Shares of ARCT opened at $6.72 on Tuesday. The firm has a market cap of $191.00 million, a P/E ratio of -2.82 and a beta of 2.40. Arcturus Therapeutics has a 1 year low of $5.85 and a 1 year high of $24.17. The company has a 50 day simple moving average of $7.42 and a two-hundred day simple moving average of $10.59.

Arcturus Therapeutics (NASDAQ:ARCT) last released its earnings results on Tuesday, March 3rd. The biotechnology company reported ($1.03) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.11). The company had revenue of $7.20 million during the quarter, compared to analysts’ expectations of $14.32 million. Arcturus Therapeutics had a negative return on equity of 29.13% and a negative net margin of 80.19%. On average, sell-side analysts anticipate that Arcturus Therapeutics will post -2.22 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Osaic Holdings Inc. increased its position in Arcturus Therapeutics by 51.8% during the second quarter. Osaic Holdings Inc. now owns 2,163 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 738 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Arcturus Therapeutics by 163.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,169 shares of the biotechnology company’s stock worth $54,000 after purchasing an additional 2,586 shares during the period. Compagnie Lombard Odier SCmA bought a new position in Arcturus Therapeutics during the 3rd quarter valued at about $111,000. CANADA LIFE ASSURANCE Co grew its holdings in Arcturus Therapeutics by 27.5% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 7,272 shares of the biotechnology company’s stock valued at $136,000 after purchasing an additional 1,567 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its position 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 purchasing an additional 2,313 shares during the period. 94.54% of the stock is owned by hedge funds and other institutional investors.

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.