Canaccord Genuity Group Lowers Arcturus Therapeutics (NASDAQ:ARCT) Price Target to $66.00

Arcturus Therapeutics (NASDAQ:ARCT - Get Free Report) had its price objective decreased by stock analysts at Canaccord Genuity Group from $68.00 to $66.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the biotechnology company's stock. Canaccord Genuity Group's target price would suggest a potential upside of 466.52% from the stock's current price.

Other analysts also recently issued reports about the stock. BTIG Research set a $48.00 target price on shares of Arcturus Therapeutics and gave the stock a "buy" rating in a research report on Monday, March 10th. HC Wainwright reaffirmed a "buy" rating and issued a $60.00 target price on shares of Arcturus Therapeutics in a research report on Thursday, April 10th. Wells Fargo & Company reduced their target price on shares of Arcturus Therapeutics from $58.00 to $50.00 and set an "overweight" rating on the stock in a research report on Friday, March 7th. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Arcturus Therapeutics in a research note on Friday, March 7th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $57.80.

Arcturus Therapeutics Stock Up 0.1%

NASDAQ:ARCT traded up $0.01 during mid-day trading on Tuesday, hitting $11.65. 335,735 shares of the stock traded hands, compared to its average volume of 451,782. The business's 50-day moving average price is $11.54 and its 200 day moving average price is $15.19. The company has a market cap of $315.96 million, a PE ratio of -5.25 and a beta of 2.36. Arcturus Therapeutics has a 12-month low of $8.04 and a 12-month high of $45.00.

Arcturus Therapeutics (NASDAQ:ARCT - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The biotechnology company reported ($0.52) earnings per share for the quarter, topping analysts' consensus estimates of ($1.58) by $1.06. Arcturus Therapeutics had a negative net margin of 36.39% and a negative return on equity of 22.39%. The firm had revenue of $29.38 million during the quarter, compared to analyst estimates of $25.64 million. Analysts anticipate that Arcturus Therapeutics will post -2.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arcturus Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. Balyasny Asset Management L.P. acquired a new position in shares of Arcturus Therapeutics during the fourth quarter valued at about $9,312,000. Schonfeld Strategic Advisors LLC increased its holdings in shares of Arcturus Therapeutics by 129.7% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 849,081 shares of the biotechnology company's stock valued at $14,409,000 after acquiring an additional 479,482 shares in the last quarter. Millennium Management LLC acquired a new position in shares of Arcturus Therapeutics during the first quarter valued at about $4,892,000. J. Goldman & Co LP acquired a new position in shares of Arcturus Therapeutics during the fourth quarter valued at about $5,024,000. Finally, MPM Bioimpact LLC increased its holdings in shares of Arcturus Therapeutics by 109.5% during the fourth quarter. MPM Bioimpact LLC now owns 459,943 shares of the biotechnology company's stock valued at $7,805,000 after acquiring an additional 240,435 shares in the last quarter. 94.54% of the stock is currently owned by 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.