Arcturus Therapeutics (NASDAQ:ARCT) Shares Gap Up - Here's What Happened

Key Points

• Arcturus Therapeutics (NASDAQ:ARCT) shares saw a significant increase, opening at $19.27 after closing at $18.43, with a last trading price of $20.43 and a volume of 173,903 shares.
• The company recently reported quarterly earnings of ($0.34) per share, exceeding analysts' expectations, with revenues reaching $28.30 million against a consensus estimate of $17.64 million.
• Currently, eight investment analysts have rated Arcturus Therapeutics with a "Buy" rating, and the average price target stands at $50.57, indicating strong confidence in the stock's future performance.

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT - Get Free Report)'s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $18.43, but opened at $19.27. Arcturus Therapeutics shares last traded at $20.43, with a volume of 173,903 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ARCT shares. Wells Fargo & Company reduced their price target on shares of Arcturus Therapeutics from $45.00 to $42.00 and set an "overweight" rating for the company in a report on Tuesday, August 12th. Scotiabank reaffirmed an "outperform" rating on shares of Arcturus Therapeutics in a research report on Wednesday, July 2nd. HC Wainwright started coverage on shares of Arcturus Therapeutics in a research report on Thursday, September 4th. They set a "buy" rating and a $60.00 target price on the stock. Citigroup reaffirmed a "buy" rating and issued a $49.00 price objective (up from $47.00) on shares of Arcturus Therapeutics in a report on Tuesday, August 12th. Finally, Wall Street Zen raised shares of Arcturus Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Eight investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $50.57.

Arcturus Therapeutics Price Performance

The stock's fifty day moving average is $16.80 and its 200-day moving average is $13.78. The stock has a market capitalization of $570.79 million, a PE ratio of -9.42 and a beta of 2.39.

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

Hedge Funds Weigh In On Arcturus Therapeutics

A number of large investors have recently added to or reduced their stakes in ARCT. Osaic Holdings Inc. raised its position in Arcturus Therapeutics by 51.8% during the second quarter. Osaic Holdings Inc. now owns 2,163 shares of the biotechnology company's stock worth $28,000 after acquiring an additional 738 shares during the period. Byrne Asset Management LLC raised its position in shares of Arcturus Therapeutics by 89.8% in the first quarter. Byrne Asset Management LLC now owns 2,885 shares of the biotechnology company's stock valued at $31,000 after buying an additional 1,365 shares during the last quarter. US Bancorp DE raised its position in shares of Arcturus Therapeutics by 218.9% in the first quarter. US Bancorp DE now owns 3,393 shares of the biotechnology company's stock valued at $36,000 after buying an additional 2,329 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Arcturus Therapeutics by 163.4% in the second quarter. BNP Paribas Financial Markets now owns 4,169 shares of the biotechnology company's stock valued at $54,000 after purchasing an additional 2,586 shares during the period. Finally, Strs Ohio purchased a new stake in shares of Arcturus Therapeutics in the first quarter valued at about $89,000. 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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