Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) Position Raised by ARK Investment Management LLC

Key Points

• ARK Investment Management LLC increased its position in Arcturus Therapeutics by 3.9%, owning approximately 7.41% of the company, equating to around $21.27 million worth of shares.
• Institutional ownership in Arcturus Therapeutics is high, with hedge funds and other investors owning 94.54% of the company's stock, indicating significant interest from major investors.
• Arcturus Therapeutics reported quarterly earnings of ($0.52) earnings per share, surpassing analyst expectations, and achieved revenue of $29.38 million, above the consensus estimate of $25.64 million.

ARK Investment Management LLC increased its holdings in Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT - Free Report) by 3.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,008,480 shares of the biotechnology company's stock after acquiring an additional 74,629 shares during the quarter. ARK Investment Management LLC owned approximately 7.41% of Arcturus Therapeutics worth $21,270,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP increased its stake in Arcturus Therapeutics by 0.8% in the 4th quarter. Wellington Management Group LLP now owns 97,036 shares of the biotechnology company's stock valued at $1,647,000 after buying an additional 742 shares during the period. Ameriprise Financial Inc. increased its stake in Arcturus Therapeutics by 5.0% in the 4th quarter. Ameriprise Financial Inc. now owns 18,613 shares of the biotechnology company's stock valued at $316,000 after buying an additional 883 shares during the period. Virtus ETF Advisers LLC increased its stake in Arcturus Therapeutics by 38.8% in the 4th quarter. Virtus ETF Advisers LLC now owns 4,051 shares of the biotechnology company's stock valued at $69,000 after buying an additional 1,132 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Arcturus Therapeutics by 7.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,018 shares of the biotechnology company's stock valued at $323,000 after buying an additional 1,279 shares during the period. Finally, Byrne Asset Management LLC increased its stake in Arcturus Therapeutics by 89.8% in the 1st quarter. Byrne Asset Management LLC now owns 2,885 shares of the biotechnology company's stock valued at $31,000 after buying an additional 1,365 shares during the period. 94.54% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ARCT shares. Wall Street Zen cut shares of Arcturus Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, July 5th. Citigroup reiterated a "buy" rating on shares of Arcturus Therapeutics in a research report on Tuesday, May 13th. Canaccord Genuity Group reduced 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. Scotiabank restated an "outperform" rating on shares of Arcturus Therapeutics in a report on Wednesday, July 2nd. Finally, HC Wainwright restated a "buy" rating and issued a $60.00 target price on shares of Arcturus Therapeutics in a report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $54.00.

Arcturus Therapeutics Stock Up 2.6%

NASDAQ:ARCT traded up $0.34 during trading hours on Wednesday, hitting $13.40. The stock had a trading volume of 198,570 shares, compared to its average volume of 435,050. The company has a current ratio of 5.64, a quick ratio of 5.64 and a debt-to-equity ratio of 0.06. Arcturus Therapeutics Holdings Inc. has a 1-year low of $8.04 and a 1-year high of $25.88. The business has a 50 day simple moving average of $13.17 and a two-hundred day simple moving average of $13.57. The company has a market cap of $363.34 million, a PE ratio of -5.27 and a beta of 2.27.

Arcturus Therapeutics (NASDAQ:ARCT - Get Free Report) last released its earnings results on Monday, May 12th. The biotechnology company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($1.58) by $1.06. The company had revenue of $29.38 million during the quarter, compared to analysts' expectations of $25.64 million. Arcturus Therapeutics had a negative return on equity of 27.41% and a negative net margin of 47.47%. Analysts predict that Arcturus Therapeutics Holdings Inc. will post -2.22 EPS for the current year.

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.