Arcturus Therapeutics (NASDAQ:ARCT) Stock Price Down 9.7% - Here's What Happened

Key Points

• Arcturus Therapeutics stock experienced a significant decline of 9.7%, trading between $19.86 and $20.01, with trading volume down 44% from its average.
• Analysts have mixed ratings on the stock, with Wells Fargo reducing its target price from $45.00 to $42.00, while Citigroup raised its target to $49.00, indicating an overall consensus rating of "Buy".
• The company reported earnings of ($0.34) per share, significantly beating estimates, with a revenue of $28.30 million for the quarter, showing strong financial performance despite the recent stock price drop.

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT - Get Free Report) was down 9.7% during trading on Monday . The company traded as low as $19.86 and last traded at $20.01. Approximately 271,491 shares were traded during mid-day trading, a decline of 44% from the average daily volume of 486,272 shares. The stock had previously closed at $22.17.

Analyst Ratings Changes

A number of analysts recently weighed in on ARCT shares. Wells Fargo & Company cut their target price 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. Scotiabank reiterated an "outperform" rating on shares of Arcturus Therapeutics in a research report on Wednesday, July 2nd. Citigroup reissued a "buy" rating and issued a $49.00 price target (up from $47.00) on shares of Arcturus Therapeutics in a research note on Tuesday, August 12th. HC Wainwright initiated coverage on Arcturus Therapeutics in a report on Thursday, September 4th. They set a "buy" rating and a $60.00 target price on the stock. Finally, Wall Street Zen upgraded Arcturus Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Eight research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Arcturus Therapeutics has a consensus rating of "Buy" and a consensus price target of $50.57.

Arcturus Therapeutics Stock Performance

The stock has a 50 day moving average price of $16.62 and a two-hundred day moving average price of $13.72. The company has a market capitalization of $517.72 million, a PE ratio of -8.58 and a beta of 2.38.

Arcturus Therapeutics (NASDAQ:ARCT - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The biotechnology company reported ($0.34) earnings per share for the quarter, beating analysts' consensus estimates of ($1.11) by $0.77. The business had revenue of $28.30 million for 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%. Sell-side analysts predict that Arcturus Therapeutics Holdings Inc. will post -2.22 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Osaic Holdings Inc. raised its stake 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 buying an additional 738 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of Arcturus Therapeutics by 163.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,169 shares of the biotechnology company's stock valued at $54,000 after acquiring an additional 2,586 shares in the last quarter. Bank of America Corp DE raised its position 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 purchasing an additional 2,098 shares during the last quarter. Ameriprise Financial Inc. raised its position 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 purchasing an additional 57,152 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Arcturus Therapeutics by 101.7% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,332 shares of the biotechnology company's stock worth $421,000 after acquiring an additional 16,306 shares in the last quarter. 94.54% of the stock is 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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