Arcturus Therapeutics (NASDAQ:ARCT) Stock Price Down 6.1% – Here’s Why

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT)’s stock price fell 6.1% on Thursday . The stock traded as low as $18.78 and last traded at $18.78. 135,496 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 473,141 shares. The stock had previously closed at $20.00.

Wall Street Analyst Weigh In

Several research analysts have commented on ARCT shares. Leerink Partnrs upgraded shares of Arcturus Therapeutics to a “strong-buy” rating in a report on Monday, August 12th. Leerink Partners initiated coverage on Arcturus Therapeutics in a research note on Monday, August 12th. They issued an “outperform” rating and a $70.00 target price on the stock. HC Wainwright reissued a “buy” rating and set a $63.00 price target on shares of Arcturus Therapeutics in a research report on Tuesday, October 1st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcturus Therapeutics in a report on Monday, September 9th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Arcturus Therapeutics presently has a consensus rating of “Buy” and an average target price of $71.40.

Arcturus Therapeutics Stock Down 5.7 %

The company has a fifty day moving average price of $21.21 and a 200-day moving average price of $25.13. The stock has a market capitalization of $507.67 million, a P/E ratio of -5.12 and a beta of 2.61.

Arcturus Therapeutics (NASDAQ:ARCT) last issued its quarterly earnings results on Monday, August 5th. The biotechnology company reported ($0.64) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.85) by $1.21. The company had revenue of $49.86 million during the quarter, compared to the consensus estimate of $21.00 million. Arcturus Therapeutics had a negative return on equity of 25.47% and a negative net margin of 41.21%. During the same period last year, the company earned ($1.98) earnings per share. As a group, research analysts expect that Arcturus Therapeutics Holdings Inc. will post -2.6 earnings per share for the current fiscal year.

Insider Activity at Arcturus Therapeutics

In other news, COO Pad Chivukula sold 12,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $20.76, for a total transaction of $249,120.00. Following the transaction, the chief operating officer now owns 435,334 shares in the company, valued at approximately $9,037,533.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 13.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Arcturus Therapeutics

A number of institutional investors have recently added to or reduced their stakes in ARCT. Wellington Management Group LLP raised its holdings in shares of Arcturus Therapeutics by 40.3% during the fourth quarter. Wellington Management Group LLP now owns 60,841 shares of the biotechnology company’s stock worth $1,918,000 after purchasing an additional 17,491 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in Arcturus Therapeutics by 2.5% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 31,930 shares of the biotechnology company’s stock worth $1,078,000 after purchasing an additional 778 shares in the last quarter. Denali Advisors LLC acquired a new position in Arcturus Therapeutics during the first quarter worth $209,000. Principal Financial Group Inc. increased its position in Arcturus Therapeutics by 148.0% during the first quarter. Principal Financial Group Inc. now owns 17,516 shares of the biotechnology company’s stock worth $592,000 after purchasing an additional 10,454 shares during the last quarter. Finally, Nordea Investment Management AB purchased a new stake in shares of Arcturus Therapeutics during the 1st quarter valued at approximately $1,846,000. 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.