Arcturus Therapeutics (NASDAQ:ARCT) Trading Up 5.4% - Here's What Happened

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.

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

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Leerink Partners lowered their target price on shares of Arcturus Therapeutics from $63.00 to $54.00 and set an "outperform" rating for the company in a research note on Friday, August 22nd. Wells Fargo & Company reduced their target price on shares of Arcturus Therapeutics from $45.00 to $42.00 and set an "overweight" rating on the stock in a report on Tuesday, August 12th. Scotiabank reissued an "outperform" rating on shares of Arcturus Therapeutics in a report on Wednesday, July 2nd. HC Wainwright started coverage on shares of Arcturus Therapeutics in a report on Thursday, September 4th. They set a "buy" rating and a $60.00 price objective on the stock. Finally, Citigroup reissued a "buy" rating and set a $49.00 price objective (up previously from $47.00) on shares of Arcturus Therapeutics in a report on Tuesday, August 12th. Eight equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Arcturus Therapeutics currently has an average rating of "Buy" and an average price target of $50.57.

Arcturus Therapeutics Trading Up 4.3%

The firm has a market capitalization of $555.69 million, a price-to-earnings ratio of -9.17 and a beta of 2.39. The business's fifty day moving average price is $15.86 and its 200 day moving average price is $13.52.

Arcturus Therapeutics (NASDAQ:ARCT - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.11) by $0.77. The company had revenue of $28.30 million for 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%. As a group, sell-side analysts forecast that Arcturus Therapeutics Holdings Inc. will post -2.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arcturus Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Osaic Holdings Inc. boosted its position in shares of Arcturus Therapeutics by 51.8% in the 2nd quarter. Osaic Holdings Inc. now owns 2,163 shares of the biotechnology company's stock worth $28,000 after buying an additional 738 shares in the last quarter. Byrne Asset Management LLC boosted its position in shares of Arcturus Therapeutics by 89.8% in the 1st quarter. Byrne Asset Management LLC now owns 2,885 shares of the biotechnology company's stock worth $31,000 after buying an additional 1,365 shares in the last quarter. US Bancorp DE boosted its position in shares of Arcturus Therapeutics by 218.9% in the 1st quarter. US Bancorp DE now owns 3,393 shares of the biotechnology company's stock worth $36,000 after buying an additional 2,329 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Arcturus Therapeutics by 163.4% in 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 in the last quarter. Finally, Strs Ohio purchased a new position in Arcturus Therapeutics in the 1st quarter valued at about $89,000. 94.54% of the stock is currently owned by hedge funds and other institutional investors.

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.