Arcturus Therapeutics (NASDAQ:ARCT) Announces Earnings Results

Key Points

• Arcturus reported GAAP EPS of ($0.95), beating estimates by $0.06, but revenue collapsed to $2.06 million versus $6.30 million expected and the company remains unprofitable with a negative net margin and ROE.
• Clinical progress: enrollment is underway in a 12‑week Phase II of ARCT‑032 for Class 1 cystic fibrosis with patients tolerating continuous inhaled dosing beyond one month, and after a Type C FDA meeting ARCT‑810 received clear direction toward a pivotal pediatric development path with an end‑of‑Phase II meeting planned in H2 2026.
• Financial and commercial posture: Arcturus held $213.4 million in cash at March 31, 2026 and says its runway extends beyond Q2 2028 after cost reductions and a refocus on rare diseases, while partner Meiji will manufacture and manage commercialization for the self‑amplifying mRNA COVID vaccine KOSTAIVE, limiting Arcturus' near‑term commercial exposure.

Arcturus Therapeutics (NASDAQ:ARCT - Get Free Report) issued its quarterly earnings results on Thursday. The biotechnology company reported ($0.95) EPS for the quarter, beating analysts' consensus estimates of ($1.01) by $0.06, FiscalAI reports. Arcturus Therapeutics had a negative net margin of 80.19% and a negative return on equity of 29.13%. The business had revenue of $2.06 million for the quarter, compared to analysts' expectations of $6.30 million.

Here are the key takeaways from Arcturus Therapeutics' conference call:

• Arcturus has begun enrollment in a 12-week open‑label Phase II of ARCT‑032 for Class 1 cystic fibrosis and reports patients have tolerated continuous inhaled dosing beyond one month, which the company attributes to its proprietary LUNAR delivery lipids and mRNA purification process.
• After a Type C meeting with the FDA, ARCT‑810 (OTC deficiency) received clear regulatory direction toward a pivotal pediatric development path; Arcturus is collecting additional exploratory data and plans an end‑of‑Phase II meeting in H2 2026.
• Financially, Arcturus reported $213.4 million in cash as of March 31, 2026 and says its cash runway extends beyond Q2 2028 following cost reductions and a strategic refocus on rare disease programs, despite a year‑over‑year revenue decline tied to reduced collaboration income.
• Partner Meiji is actively manufacturing Arcturus’ self‑amplifying mRNA COVID vaccine KOSTAIVE for Japan’s 2026/2027 season and will provide all commercial guidance, leaving Arcturus’ near‑term commercial exposure dependent on the partner.

Arcturus Therapeutics Stock Down 2.5%

Shares of NASDAQ:ARCT traded down $0.23 during trading on Thursday, hitting $8.90. The stock had a trading volume of 488,566 shares, compared to its average volume of 333,320. Arcturus Therapeutics has a 12 month low of $5.85 and a 12 month high of $24.17. The company has a market capitalization of $252.94 million, a PE ratio of -3.74 and a beta of 2.43. The firm's fifty day moving average is $7.89 and its 200 day moving average is $7.83.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ARCT. B. Riley Financial began coverage on shares of Arcturus Therapeutics in a research report on Wednesday, March 18th. They set a "buy" rating and a $22.00 price target on the stock. Roth Mkm began coverage on shares of Arcturus Therapeutics in a research report on Thursday, January 22nd. They set a "buy" rating and a $20.00 price target on the stock. Weiss Ratings upgraded shares of Arcturus Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, April 21st. Citigroup reduced their price target on shares of Arcturus Therapeutics from $66.00 to $21.00 and set a "buy" rating on the stock in a research report on Thursday, March 5th. Finally, Piper Sandler reduced their price target on shares of Arcturus Therapeutics from $72.00 to $25.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $29.50.

Institutional Trading of Arcturus Therapeutics

Hedge funds have recently modified their holdings of the business. Osaic Holdings Inc. boosted its holdings in shares of Arcturus Therapeutics by 51.8% during the 2nd quarter. Osaic Holdings Inc. now owns 2,163 shares of the biotechnology company's stock valued at $28,000 after buying an additional 738 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Arcturus Therapeutics by 163.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,169 shares of the biotechnology company's stock valued at $54,000 after buying an additional 2,586 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in shares of 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 buying an additional 1,567 shares in the last quarter. Strs Ohio bought a new stake in shares of Arcturus Therapeutics during the 1st quarter valued at $89,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of Arcturus Therapeutics during the 4th quarter valued at $64,000. Institutional investors own 94.54% of the company's stock.

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.

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