Arcturus Therapeutics (NASDAQ:ARCT) Posts Quarterly Earnings Results, Beats Expectations By $0.77 EPS

Key Points

• Arcturus Therapeutics reported a quarterly earnings per share (EPS) of ($0.34), exceeding expectations by $0.77.
• Shares of Arcturus Therapeutics fell by 4.4% on the day of the earnings announcement, closing at $11.39.
• Despite the earnings beat, several brokerages lowered their price targets, with Canaccord Genuity reducing theirs from $68.00 to $66.00, while maintaining a "buy" rating.

Arcturus Therapeutics (NASDAQ:ARCT - Get Free Report) announced its earnings results on Monday. The biotechnology company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($1.11) by $0.77, Zacks reports. Arcturus Therapeutics had a negative return on equity of 27.41% and a negative net margin of 47.47%.

Arcturus Therapeutics Stock Down 4.4%

Shares of Arcturus Therapeutics stock traded down $0.52 on Monday, hitting $11.39. The company had a trading volume of 1,250,130 shares, compared to its average volume of 438,464. The company has a debt-to-equity ratio of 0.06, a quick ratio of 5.64 and a current ratio of 5.64. The stock has a market capitalization of $308.91 million, a price-to-earnings ratio of -4.50 and a beta of 2.26. The stock has a 50 day moving average of $13.15 and a 200-day moving average of $13.28. Arcturus Therapeutics has a 1 year low of $8.04 and a 1 year high of $25.88.

Institutional Trading of Arcturus Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of ARCT. Millennium Management LLC purchased a new stake in Arcturus Therapeutics during the 1st quarter worth about $4,892,000. Acadian Asset Management LLC purchased a new stake in shares of Arcturus Therapeutics in the first quarter worth about $701,000. Goldman Sachs Group Inc. boosted its position in shares of Arcturus Therapeutics by 9.1% in the first quarter. Goldman Sachs Group Inc. now owns 509,712 shares of the biotechnology company's stock valued at $5,398,000 after acquiring an additional 42,636 shares during the period. AQR Capital Management LLC purchased a new position in Arcturus Therapeutics during the first quarter valued at approximately $128,000. Finally, Strs Ohio purchased a new stake in Arcturus Therapeutics in the 1st quarter worth approximately $89,000. 94.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ARCT. Wells Fargo & Company cut their price target on Arcturus Therapeutics from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Wednesday, May 14th. Citigroup reiterated a "buy" rating on shares of Arcturus Therapeutics in a report on Tuesday, May 13th. Scotiabank reiterated an "outperform" rating on shares of Arcturus Therapeutics in a report on Wednesday, July 2nd. Canaccord Genuity Group cut their price target on Arcturus Therapeutics from $68.00 to $66.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Finally, Wall Street Zen upgraded Arcturus Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Arcturus Therapeutics has a consensus rating of "Buy" and an average price target of $54.00.

About Arcturus Therapeutics

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.

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