Arcturus Therapeutics (NASDAQ:ARCT) Cut to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Arcturus Therapeutics to “Sell” from “Hold,” though the broader analyst consensus remains “Moderate Buy” with an average price target of $22.43.
• Arcturus shares opened at $13.03 and have traded between $5.50 and $24.17 over the past year. The company remains unprofitable, reporting a quarterly loss of $0.84 per share and forecasting a full-year loss of $3.48 per share.
• Institutional investors own approximately 94.54% of the stock, with several funds recently increasing or initiating positions in the biotechnology company.

Arcturus Therapeutics (NASDAQ:ARCT - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Sunday, Wall Street Zen reports.

ARCT has been the subject of a number of other reports. Citigroup upgraded Arcturus Therapeutics from a "neutral" rating to a "buy" rating and raised their target price for the company from $8.00 to $20.00 in a research note on Thursday, September 24th. Weiss Ratings reissued a "sell (d-)" rating on shares of Arcturus Therapeutics in a report on Friday, July 17th. BTIG Research dropped their target price on shares of Arcturus Therapeutics from $23.00 to $20.00 and set a "buy" rating for the company in a research note on Thursday, September 24th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Arcturus Therapeutics in a research report on Thursday, September 24th. Finally, Roth Capital reissued a "buy" rating and set a $41.00 price target on shares of Arcturus Therapeutics in a research note on Wednesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $22.43.

Arcturus Therapeutics Trading Down 1.4%

NASDAQ:ARCT opened at $13.03 on Friday. The stock has a market capitalization of $370.35 million, a P/E ratio of -3.94 and a beta of 2.48. Arcturus Therapeutics has a 1 year low of $5.50 and a 1 year high of $24.17. The firm has a 50 day moving average of $11.99 and a 200-day moving average of $9.05.

Arcturus Therapeutics (NASDAQ:ARCT - Get Free Report) last released its quarterly earnings results on Friday, August 7th. The biotechnology company reported ($0.84) EPS for the quarter, topping analysts' consensus estimates of ($1.00) by $0.16. Arcturus Therapeutics had a negative return on equity of 46.54% and a negative net margin of 317.62%.The business had revenue of $2.96 million for the quarter, compared to analyst estimates of $3.11 million. As a group, analysts forecast that Arcturus Therapeutics will post -3.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Arcturus Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Versant Capital Management Inc boosted its stake in Arcturus Therapeutics by 648.6% in the third quarter. Versant Capital Management Inc now owns 3,032 shares of the biotechnology company's stock valued at $42,000 after acquiring an additional 2,627 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of Arcturus Therapeutics by 7.7% during the 2nd quarter. Hsbc Holdings PLC now owns 56,895 shares of the biotechnology company's stock valued at $394,000 after acquiring an additional 4,070 shares during the last quarter. Two Sigma Securities LLC bought a new stake in shares of Arcturus Therapeutics during the 2nd quarter valued at $80,000. ADAR1 Capital Management LLC acquired a new position in shares of Arcturus Therapeutics in the 1st quarter valued at $116,000. Finally, Diversify Wealth Management LLC acquired a new position in shares of Arcturus Therapeutics in the 1st quarter valued at $133,000. 94.54% of the stock is owned by institutional investors.

Arcturus Therapeutics Company Profile

Arcturus Therapeutics Holdings Inc is a biotechnology company focused on developing medicines based on messenger RNA (mRNA) and other RNA technologies. Headquartered in San Diego, California, the company uses its proprietary LUNAR lipid-mediated delivery platform and STX self-amplifying mRNA technology to design and deliver RNA-based therapeutics and vaccines.

The company's research and development activities address rare diseases, infectious diseases, respiratory conditions and other areas of significant unmet medical need.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.