Arcturus Therapeutics (NASDAQ:ARCT) Share Price Crosses Below 200 Day Moving Average - Here's Why

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $14.13 and traded as low as $13.74. Arcturus Therapeutics shares last traded at $14.41, with a volume of 517,333 shares trading hands.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Canaccord Genuity Group reduced their price objective on shares of Arcturus Therapeutics from $68.00 to $66.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Citigroup restated a "buy" rating on shares of Arcturus Therapeutics in a research note on Tuesday, May 13th. Wells Fargo & Company reduced their price objective on shares of Arcturus Therapeutics from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Wednesday, May 14th. Scotiabank initiated coverage on shares of Arcturus Therapeutics in a report on Wednesday, May 28th. They set a "sector outperform" rating and a $32.00 price target on the stock. Finally, Wall Street Zen raised shares of Arcturus Therapeutics from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $53.50.

Arcturus Therapeutics Stock Performance

The business's fifty day moving average price is $12.31 and its 200-day moving average price is $14.13. 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 cap of $361.51 million, a PE ratio of -5.27 and a beta of 2.30.

Arcturus Therapeutics (NASDAQ:ARCT - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The biotechnology company reported ($0.52) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.58) by $1.06. The company had revenue of $29.38 million for the quarter, compared to the consensus estimate of $25.64 million. Arcturus Therapeutics had a negative net margin of 47.47% and a negative return on equity of 27.41%. As a group, equities research analysts forecast that Arcturus Therapeutics Holdings Inc. will post -2.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Arcturus Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in ARCT. Charles Schwab Investment Management Inc. boosted its holdings in shares of Arcturus Therapeutics by 5.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 207,802 shares of the biotechnology company's stock worth $3,526,000 after buying an additional 10,180 shares during the last quarter. Tocqueville Asset Management L.P. boosted its holdings in shares of Arcturus Therapeutics by 42.7% in the fourth quarter. Tocqueville Asset Management L.P. now owns 22,400 shares of the biotechnology company's stock worth $380,000 after buying an additional 6,700 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Arcturus Therapeutics by 10.7% in the fourth quarter. American Century Companies Inc. now owns 47,018 shares of the biotechnology company's stock worth $798,000 after buying an additional 4,547 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Arcturus Therapeutics in the fourth quarter worth approximately $71,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Arcturus Therapeutics by 6.8% in the fourth quarter. Vanguard Group Inc. now owns 1,684,561 shares of the biotechnology company's stock worth $28,587,000 after buying an additional 107,635 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.