Arcturus Therapeutics (NASDAQ:ARCT) Price Target Cut to $66.00 by Analysts at Canaccord Genuity Group

Arcturus Therapeutics (NASDAQ:ARCT - Get Free Report) had its price objective cut by research analysts at Canaccord Genuity Group from $68.00 to $66.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the biotechnology company's stock. Canaccord Genuity Group's price target would suggest a potential upside of 466.52% from the company's previous close.

A number of other brokerages have also recently commented on ARCT. BTIG Research set a $48.00 price objective on shares of Arcturus Therapeutics and gave the stock a "buy" rating in a research note on Monday, March 10th. HC Wainwright reaffirmed a "buy" rating and set a $60.00 price objective on shares of Arcturus Therapeutics in a research note on Thursday, April 10th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Arcturus Therapeutics in a research report on Friday, March 7th. Finally, Wells Fargo & Company decreased their target price on Arcturus Therapeutics from $58.00 to $50.00 and set an "overweight" rating on the stock in a research report on Friday, March 7th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $57.80.

Arcturus Therapeutics Price Performance

NASDAQ:ARCT traded up $0.01 during midday trading on Tuesday, hitting $11.65. The company's stock had a trading volume of 335,735 shares, compared to its average volume of 451,393. The firm has a market cap of $315.96 million, a P/E ratio of -5.25 and a beta of 2.36. Arcturus Therapeutics has a fifty-two week low of $8.04 and a fifty-two week high of $45.00. The firm's 50 day moving average is $11.54 and its 200-day moving average is $15.19.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Byrne Asset Management LLC increased its stake in shares of Arcturus Therapeutics by 89.8% in the 1st quarter. Byrne Asset Management LLC now owns 2,885 shares of the biotechnology company's stock worth $31,000 after acquiring an additional 1,365 shares during the last quarter. US Bancorp DE increased its stake in shares of Arcturus Therapeutics by 218.9% in the 1st quarter. US Bancorp DE now owns 3,393 shares of the biotechnology company's stock worth $36,000 after acquiring an additional 2,329 shares during the last quarter. Virtus ETF Advisers LLC increased its position in shares of Arcturus Therapeutics by 38.8% during the 4th quarter. Virtus ETF Advisers LLC now owns 4,051 shares of the biotechnology company's stock worth $69,000 after purchasing an additional 1,132 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Arcturus Therapeutics in the 4th quarter valued at about $71,000. Finally, GAMMA Investing LLC raised its holdings in Arcturus Therapeutics by 3,482.9% in the 1st quarter. GAMMA Investing LLC now owns 5,231 shares of the biotechnology company's stock valued at $550,000 after buying an additional 5,085 shares during the period. 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.