Arcturus Therapeutics (NASDAQ:ARCT) Stock Rating Lowered by Citigroup

Key Points

• Arcturus Therapeutics was downgraded by Citigroup from a "buy" to a "neutral" rating, with a target price of $12.00, indicating a potential upside of 3.99% from the current stock price.
• Various analysts have different assessments; while BTIG Research lowered their price target to $23.00 with a "buy" rating, Zacks upgraded it to a "strong-buy," showing varied market confidence in the stock.
• Arcturus stock has seen a significant decline, trading down 50.2% from its 12-month high of $24.17, with a current market cap of $313.43 million.

Arcturus Therapeutics (NASDAQ:ARCT - Get Free Report) was downgraded by Citigroup from a "buy" rating to a "neutral" rating in a research note issued to investors on Thursday,Briefing.com Automated Import reports. They presently have a $12.00 target price on the biotechnology company's stock. Citigroup's price objective would indicate a potential upside of 3.99% from the company's current price.

Several other analysts have also issued reports on the company. BTIG Research cut their price target on Arcturus Therapeutics from $48.00 to $23.00 and set a "buy" rating for the company in a report on Wednesday. Wells Fargo & Company lowered their price objective on Arcturus Therapeutics from $45.00 to $42.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 12th. Zacks Research upgraded Arcturus Therapeutics from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 13th. Guggenheim cut shares of Arcturus Therapeutics from a "buy" rating to a "neutral" rating in a research note on Wednesday. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Arcturus Therapeutics in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $41.71.

Arcturus Therapeutics Trading Down 50.2%

Shares of ARCT stock opened at $11.54 on Thursday. Arcturus Therapeutics has a 12 month low of $8.04 and a 12 month high of $24.17. The stock has a market cap of $313.43 million, a P/E ratio of -5.17 and a beta of 2.39. The company has a 50 day simple moving average of $19.03 and a two-hundred day simple moving average of $14.72.

Arcturus Therapeutics (NASDAQ:ARCT - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The biotechnology company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($1.11) by $0.77. The business 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, equities analysts forecast that Arcturus Therapeutics will post -2.22 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Millennium Management LLC bought a new position in Arcturus Therapeutics in the 1st quarter worth approximately $4,892,000. Vestal Point Capital LP purchased a new position in shares of Arcturus Therapeutics in the first quarter worth $2,243,000. Diversify Advisory Services LLC lifted its holdings in shares of Arcturus Therapeutics by 1,136.1% in the second quarter. Diversify Advisory Services LLC now owns 222,500 shares of the biotechnology company's stock worth $2,895,000 after buying an additional 204,500 shares in the last quarter. ARK Investment Management LLC boosted its position in shares of Arcturus Therapeutics by 3.9% during the first quarter. ARK Investment Management LLC now owns 2,008,480 shares of the biotechnology company's stock worth $21,270,000 after acquiring an additional 74,629 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new position in Arcturus Therapeutics during the first quarter valued at $701,000. 94.54% of the stock is 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.

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