Arcturus Therapeutics (NASDAQ:ARCT) Shares Up 5.4% - Here's Why

Key Points

• Arcturus Therapeutics shares rose by 5.4%, closing at $19.11, following a trading day with significantly lower volume compared to the average.
• Analysts have mostly positive views on the stock, with eight rating it as a Buy and setting an average price target of $50.57.
• The company reported better-than-expected earnings with a quarterly EPS of ($0.34), significantly surpassing estimates and generating $28.30 million in revenue.

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT - Get Free Report)'s stock price rose 5.4% during trading on Tuesday . The stock traded as high as $18.81 and last traded at $19.11. Approximately 61,097 shares traded hands during trading, a decline of 87% from the average daily volume of 471,060 shares. The stock had previously closed at $18.13.

Analyst Ratings Changes

ARCT has been the subject of several research analyst reports. Wall Street Zen upgraded Arcturus Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. HC Wainwright initiated coverage on Arcturus Therapeutics in a research note on Thursday, September 4th. They set a "buy" rating and a $60.00 price target for the company. Leerink Partners dropped their price target on Arcturus Therapeutics from $63.00 to $54.00 and set an "outperform" rating for the company in a research note on Friday, August 22nd. Citigroup restated a "buy" rating and set a $49.00 price target (up from $47.00) on shares of Arcturus Therapeutics in a research note on Tuesday, August 12th. Finally, Scotiabank restated an "outperform" rating on shares of Arcturus Therapeutics in a research note on Wednesday, July 2nd. Eight research analysts have rated the stock with a Buy rating, According to MarketBeat, Arcturus Therapeutics presently has an average rating of "Buy" and an average price target of $50.57.

Arcturus Therapeutics Price Performance

The stock has a market cap of $507.62 million, a PE ratio of -8.35 and a beta of 2.38. The business has a fifty day moving average of $15.47 and a 200 day moving average of $13.39.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Osaic Holdings Inc. boosted 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 valued at $28,000 after purchasing an additional 738 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in Arcturus Therapeutics by 163.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,169 shares of the biotechnology company's stock worth $54,000 after buying an additional 2,586 shares during the last quarter. Bank of America Corp DE lifted its holdings in Arcturus Therapeutics by 0.7% during the 2nd quarter. Bank of America Corp DE now owns 292,429 shares of the biotechnology company's stock worth $3,805,000 after buying an additional 2,098 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in Arcturus Therapeutics by 378.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 72,252 shares of the biotechnology company's stock worth $940,000 after buying an additional 57,152 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Arcturus Therapeutics by 101.7% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,332 shares of the biotechnology company's stock worth $421,000 after buying an additional 16,306 shares during the last quarter. Hedge funds and other institutional investors own 94.54% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.