Arcturus Therapeutics (NASDAQ:ARCT) Sets New 52-Week High - Here's Why

Key Points

• Arcturus Therapeutics saw its stock price reach a new 52-week high of $24.17, closing at $23.16, after trading over 2.2 million shares.
• Analysts have mixed opinions, with a consensus rating of "Moderate Buy" and an average price target of $50.57; notable revisions include Leerink Partners lowering their target from $63.00 to $54.00.
• The company reported better-than-expected quarterly earnings, with an EPS of ($0.34) compared to the consensus estimate of ($1.11), alongside revenues of $28.30 million.

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT - Get Free Report)'s share price hit a new 52-week high on Wednesday . The stock traded as high as $24.17 and last traded at $23.16, with a volume of 2261431 shares. The stock had previously closed at $21.51.

Analysts Set New Price Targets

Several brokerages recently weighed in on ARCT. Leerink Partners reduced their price objective on shares of Arcturus Therapeutics from $63.00 to $54.00 and set an "outperform" rating on the stock in a research note on Friday, August 22nd. Wells Fargo & Company reduced their price objective on shares of Arcturus Therapeutics from $45.00 to $42.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 12th. HC Wainwright assumed coverage on shares of Arcturus Therapeutics in a research note on Thursday, September 4th. They issued a "buy" rating and a $60.00 price objective on the stock. Scotiabank reissued an "outperform" rating on shares of Arcturus Therapeutics in a research note on Wednesday, July 2nd. Finally, Wall Street Zen raised shares of Arcturus Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Arcturus Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $50.57.

Arcturus Therapeutics Stock Up 7.7%

The business's 50 day moving average is $19.18 and its two-hundred day moving average is $14.74. The firm has a market cap of $629.03 million, a P/E ratio of -10.39 and a beta of 2.39.

Arcturus Therapeutics (NASDAQ:ARCT - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The biotechnology company reported ($0.34) EPS for the quarter, topping analysts' consensus estimates of ($1.11) by $0.77. The business had revenue of $28.30 million during the quarter, compared to analysts' expectations of $17.64 million. Arcturus Therapeutics had a negative net margin of 49.26% and a negative return on equity of 24.87%. Equities research analysts anticipate that Arcturus Therapeutics Holdings Inc. will post -2.22 EPS for the current year.

Institutional Investors Weigh In On Arcturus Therapeutics

Large investors have recently bought and sold shares of the stock. Osaic Holdings Inc. grew its holdings in Arcturus Therapeutics by 51.8% in the second quarter. Osaic Holdings Inc. now owns 2,163 shares of the biotechnology company's stock worth $28,000 after purchasing an additional 738 shares during the period. US Bancorp DE grew its holdings in Arcturus Therapeutics by 218.9% in the first quarter. US Bancorp DE now owns 3,393 shares of the biotechnology company's stock worth $36,000 after purchasing an additional 2,329 shares during the period. BNP Paribas Financial Markets grew its holdings in Arcturus Therapeutics by 163.4% in the second quarter. BNP Paribas Financial Markets now owns 4,169 shares of the biotechnology company's stock worth $54,000 after purchasing an additional 2,586 shares during the period. Strs Ohio acquired a new position in shares of Arcturus Therapeutics during the first quarter valued at about $89,000. Finally, Spire Wealth Management increased its position in shares of Arcturus Therapeutics by 76.0% during the second quarter. Spire Wealth Management now owns 9,955 shares of the biotechnology company's stock worth $130,000 after acquiring an additional 4,300 shares in the last quarter. 94.54% of the stock is currently owned by institutional investors and hedge funds.

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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