Arcturus Therapeutics (NASDAQ:ARCT) Research Coverage Started at B. Riley Financial

B. Riley Financial started coverage on shares of Arcturus Therapeutics (NASDAQ:ARCT) in a report released on Wednesday, MarketBeat.com reports. The firm issued a buy rating and a $22.00 price target on the biotechnology company’s stock.

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

Arcturus Therapeutics Price Performance

Shares of Arcturus Therapeutics stock opened at $6.63 on Wednesday. Arcturus Therapeutics has a 1 year low of $5.85 and a 1 year high of $24.17. The firm has a market cap of $188.42 million, a PE ratio of -2.79 and a beta of 2.40. The company has a 50 day simple moving average of $7.42 and a two-hundred day simple moving average of $10.52.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ARCT. Kennedy Capital Management LLC grew its position in shares of Arcturus Therapeutics by 4.9% in the 2nd quarter. Kennedy Capital Management LLC now owns 11,674 shares of the biotechnology company’s stock worth $152,000 after buying an additional 544 shares during the period. Osaic Holdings Inc. increased its stake in shares of Arcturus Therapeutics by 51.8% in the 2nd quarter. Osaic Holdings Inc. now owns 2,163 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 738 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position 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 acquiring an additional 1,567 shares during the period. Bank of America Corp DE lifted its position in Arcturus Therapeutics by 0.7% during the 2nd quarter. Bank of America Corp DE now owns 292,429 shares of the biotechnology company’s stock valued at $3,805,000 after acquiring an additional 2,098 shares during the period. Finally, China Universal Asset Management Co. Ltd. boosted its stake in Arcturus Therapeutics by 42.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 7,760 shares of the biotechnology company’s stock worth $143,000 after acquiring an additional 2,313 shares in the last quarter. 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.