ARK Investment Management LLC trimmed its holdings in Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT - Free Report) by 14.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,715,040 shares of the biotechnology company's stock after selling 293,440 shares during the period. ARK Investment Management LLC owned 6.32% of Arcturus Therapeutics worth $22,313,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. US Bancorp DE raised its position in shares of Arcturus Therapeutics by 218.9% in the first quarter. US Bancorp DE now owns 3,393 shares of the biotechnology company's stock valued at $36,000 after buying an additional 2,329 shares in the last quarter. Strs Ohio acquired a new stake in shares of Arcturus Therapeutics in the first quarter valued at approximately $89,000. Russell Investments Group Ltd. raised its position in shares of Arcturus Therapeutics by 40,686.2% in the first quarter. Russell Investments Group Ltd. now owns 11,828 shares of the biotechnology company's stock valued at $125,000 after buying an additional 11,799 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of Arcturus Therapeutics in the first quarter valued at approximately $128,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Arcturus Therapeutics by 9.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 14,693 shares of the biotechnology company's stock valued at $156,000 after buying an additional 1,232 shares in the last quarter. 94.54% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on ARCT shares. Wall Street Zen raised shares of Arcturus Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Wells Fargo & Company decreased their price objective 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 reissued an "outperform" rating on shares of Arcturus Therapeutics in a research note on Wednesday, July 2nd. Zacks Research raised shares of Arcturus Therapeutics from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 13th. Finally, Citigroup reissued a "buy" rating on shares of Arcturus Therapeutics in a research note on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Arcturus Therapeutics has an average rating of "Moderate Buy" and an average target price of $50.57.
Check Out Our Latest Research Report on Arcturus Therapeutics
Arcturus Therapeutics Stock Up 7.7%
ARCT stock opened at $23.16 on Wednesday. The firm has a market cap of $629.03 million, a price-to-earnings ratio of -10.39 and a beta of 2.39. Arcturus Therapeutics Holdings Inc. has a 12-month low of $8.04 and a 12-month high of $24.17. The company's fifty day simple moving average is $19.18 and its 200 day simple moving average is $14.74.
Arcturus Therapeutics (NASDAQ:ARCT - Get Free Report) last released its earnings results on Monday, August 11th. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.11) by $0.77. Arcturus Therapeutics had a negative net margin of 49.26% and a negative return on equity of 24.87%. The business had revenue of $28.30 million for the quarter, compared to analyst estimates of $17.64 million. Research analysts expect that Arcturus Therapeutics Holdings Inc. will post -2.22 earnings per share for the current year.
Arcturus Therapeutics Company Profile
(
Free Report)
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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