Arcturus Therapeutics (NASDAQ:ARCT) Stock Price Crosses Below 50-Day Moving Average – What’s Next?

Shares of Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $7.56 and traded as low as $7.30. Arcturus Therapeutics shares last traded at $7.60, with a volume of 408,000 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ARCT. B. Riley Financial started coverage on shares of Arcturus Therapeutics in a report on Wednesday, March 18th. They issued a “buy” rating and a $22.00 price objective on the stock. Weiss Ratings upgraded Arcturus Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $24.25.

Arcturus Therapeutics Stock Performance

The firm’s 50 day moving average is $7.50 and its two-hundred day moving average is $7.47. The stock has a market capitalization of $203.49 million, a PE ratio of -2.55 and a beta of 2.37.

Arcturus Therapeutics (NASDAQ:ARCT) last released its earnings results on Friday, May 8th. The biotechnology company reported ($0.95) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.03) by $0.08. The company had revenue of $2.06 million for the quarter, compared to analyst estimates of $6.30 million. Arcturus Therapeutics had a negative net margin of 143.80% and a negative return on equity of 36.55%. On average, analysts anticipate that Arcturus Therapeutics Holdings Inc. will post -3.99 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ARCT. Osaic Holdings Inc. increased its holdings in Arcturus Therapeutics by 51.8% during the 2nd quarter. Osaic Holdings Inc. now owns 2,163 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 738 shares during the period. BNP Paribas Financial Markets grew its position in shares of Arcturus Therapeutics by 163.4% during the second quarter. BNP Paribas Financial Markets now owns 4,169 shares of the biotechnology company’s stock worth $54,000 after buying an additional 2,586 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of Arcturus Therapeutics by 27.5% during the third quarter. CANADA LIFE ASSURANCE Co now owns 7,272 shares of the biotechnology company’s stock worth $136,000 after buying an additional 1,567 shares during the period. Strs Ohio purchased a new stake in shares of Arcturus Therapeutics during the first quarter worth approximately $89,000. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in Arcturus Therapeutics in the fourth quarter valued at approximately $64,000. 94.54% of the stock is currently owned by hedge funds and other institutional investors.

Arcturus Therapeutics Company Profile

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.