Wells Fargo & Company Has Lowered Expectations for Arcturus Therapeutics (NASDAQ:ARCT) Stock Price

Arcturus Therapeutics (NASDAQ:ARCT) had its price objective cut by stock analysts at Wells Fargo & Company from $58.00 to $50.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the biotechnology company’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 241.13% from the stock’s current price.

Other analysts have also issued research reports about the stock. HC Wainwright reissued a “buy” rating and issued a $63.00 price target on shares of Arcturus Therapeutics in a research report on Friday, February 14th. BTIG Research assumed coverage on shares of Arcturus Therapeutics in a research report on Tuesday, January 28th. They set a “buy” rating and a $41.00 price target on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Arcturus Therapeutics in a report on Monday, December 16th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Arcturus Therapeutics currently has an average rating of “Buy” and an average price target of $62.00.

Arcturus Therapeutics Stock Performance

NASDAQ ARCT traded down $1.31 on Friday, hitting $14.66. 111,795 shares of the stock traded hands, compared to its average volume of 405,043. The business’s fifty day moving average is $17.00 and its two-hundred day moving average is $18.64. Arcturus Therapeutics has a 12 month low of $14.30 and a 12 month high of $45.00. The firm has a market capitalization of $397.01 million, a price-to-earnings ratio of -6.62 and a beta of 2.62.

Arcturus Therapeutics (NASDAQ:ARCT) last posted its quarterly earnings results on Thursday, March 6th. The biotechnology company reported ($1.11) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.78). Arcturus Therapeutics had a negative return on equity of 22.39% and a negative net margin of 36.39%. The firm had revenue of $22.77 million for the quarter, compared to the consensus estimate of $44.64 million. Analysts expect that Arcturus Therapeutics will post -2.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Virtus ETF Advisers LLC grew its stake in Arcturus Therapeutics by 38.8% in the fourth quarter. Virtus ETF Advisers LLC now owns 4,051 shares of the biotechnology company’s stock worth $69,000 after purchasing an additional 1,132 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of Arcturus Therapeutics in the 4th quarter worth about $71,000. National Bank of Canada FI lifted its position in Arcturus Therapeutics by 639.6% during the 4th quarter. National Bank of Canada FI now owns 5,532 shares of the biotechnology company’s stock valued at $94,000 after acquiring an additional 4,784 shares during the period. Kennedy Capital Management LLC boosted its stake in Arcturus Therapeutics by 22.7% during the fourth quarter. Kennedy Capital Management LLC now owns 10,987 shares of the biotechnology company’s stock worth $186,000 after acquiring an additional 2,036 shares in the last quarter. Finally, Sherbrooke Park Advisers LLC bought a new position in shares of Arcturus Therapeutics during the fourth quarter valued at approximately $200,000. Hedge funds and other institutional investors own 94.54% of the company’s stock.

Arcturus Therapeutics Company Profile

Arcturus Therapeutics Holdings Inc, a late-stage clinical messenger RNA medicines and vaccine company, focuses on the development of infectious disease vaccines and other products within liver and respiratory rare diseases. Its technology platforms include LUNAR lipid-mediated delivery and STARR mRNA.