Arcturus Therapeutics (NASDAQ:ARCT) Trading 24.8% Higher - What's Next?

Key Points

• Arcturus Therapeutics shares surged 24.8% on Wednesday, reaching a high of $18.60, after trading volume increased significantly to approximately 698,133 shares.
• Multiple analysts have responded with updated ratings; Citigroup increased its price target to $49.00, while Canaccord Genuity and Wells Fargo adjusted theirs downwards to $66.00 and $42.00 respectively.
• The company reported better-than-expected quarterly earnings with an EPS of ($0.34), surpassing estimates, and revenue of $28.30 million compared to the forecast of $17.64 million.

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT - Get Free Report) rose 24.8% during trading on Wednesday . The company traded as high as $18.60 and last traded at $18.59. Approximately 698,133 shares were traded during mid-day trading, an increase of 56% from the average daily volume of 448,703 shares. The stock had previously closed at $14.89.

Analysts Set New Price Targets

ARCT has been the topic of a number of research reports. Scotiabank reiterated an "outperform" rating on shares of Arcturus Therapeutics in a report on Wednesday, July 2nd. Wall Street Zen upgraded shares of Arcturus Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday. Citigroup reiterated a "buy" rating and issued a $49.00 target price (up from $47.00) on shares of Arcturus Therapeutics in a report on Tuesday. Canaccord Genuity Group dropped their target price on shares of Arcturus Therapeutics from $68.00 to $66.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Finally, Wells Fargo & Company dropped 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. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, Arcturus Therapeutics has a consensus rating of "Moderate Buy" and a consensus price target of $50.00.

Arcturus Therapeutics Price Performance

The stock's 50-day moving average is $13.15 and its 200 day moving average is $13.25. The stock has a market capitalization of $520.98 million, a PE ratio of -8.61 and a beta of 2.26. The company has a quick ratio of 5.64, a current ratio of 5.64 and a debt-to-equity ratio of 0.06.

Arcturus Therapeutics (NASDAQ:ARCT - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The biotechnology company reported ($0.34) EPS for the quarter, beating analysts' consensus estimates of ($1.11) by $0.77. Arcturus Therapeutics had a negative net margin of 49.26% and a negative return on equity of 24.50%. The firm had revenue of $28.30 million for the quarter, compared to the consensus estimate of $17.64 million. As a group, equities analysts predict that Arcturus Therapeutics Holdings Inc. will post -2.22 earnings per share for the current year.

Institutional Trading of Arcturus Therapeutics

Several large investors have recently added to or reduced their stakes in the business. ARK Investment Management LLC grew its position in Arcturus Therapeutics by 3.9% in 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 in the last quarter. Vanguard Group Inc. grew its position in Arcturus Therapeutics by 3.8% in the first quarter. Vanguard Group Inc. now owns 1,748,928 shares of the biotechnology company's stock worth $18,521,000 after acquiring an additional 64,367 shares in the last quarter. Schonfeld Strategic Advisors LLC lifted its stake in shares of Arcturus Therapeutics by 129.7% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 849,081 shares of the biotechnology company's stock worth $14,409,000 after buying an additional 479,482 shares during the last quarter. Woodline Partners LP lifted its stake in shares of Arcturus Therapeutics by 3.5% in the fourth quarter. Woodline Partners LP now owns 806,912 shares of the biotechnology company's stock worth $13,693,000 after buying an additional 26,956 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Arcturus Therapeutics by 6.4% in the second quarter. Geode Capital Management LLC now owns 606,291 shares of the biotechnology company's stock worth $7,889,000 after buying an additional 36,671 shares during the last quarter. 94.54% of the stock is owned by institutional investors.

Arcturus Therapeutics Company Profile

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.