ARK Investment Management LLC Has $21.27 Million Stock Holdings in Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT)

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

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ARCT. Wellington Management Group LLP boosted its holdings in Arcturus Therapeutics by 0.8% in the fourth quarter. Wellington Management Group LLP now owns 97,036 shares of the biotechnology company's stock valued at $1,647,000 after purchasing an additional 742 shares during the period. Ameriprise Financial Inc. grew its position in shares of Arcturus Therapeutics by 5.0% during the fourth quarter. Ameriprise Financial Inc. now owns 18,613 shares of the biotechnology company's stock worth $316,000 after buying an additional 883 shares in the last quarter. Virtus ETF Advisers LLC increased its stake in shares of Arcturus Therapeutics by 38.8% during the fourth quarter. Virtus ETF Advisers LLC now owns 4,051 shares of the biotechnology company's stock worth $69,000 after buying an additional 1,132 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Arcturus Therapeutics by 7.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 19,018 shares of the biotechnology company's stock valued at $323,000 after acquiring an additional 1,279 shares in the last quarter. Finally, Byrne Asset Management LLC raised its holdings 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 valued at $31,000 after purchasing an additional 1,365 shares in the last quarter. Hedge funds and other institutional investors own 94.54% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ARCT shares. Citigroup restated a "buy" rating on shares of Arcturus Therapeutics in a research note on Tuesday, May 13th. HC Wainwright reissued a "buy" rating and issued a $60.00 price objective on shares of Arcturus Therapeutics in a research note on Thursday, April 10th. Wall Street Zen cut shares of Arcturus Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, July 5th. Wells Fargo & Company reduced their price objective on Arcturus Therapeutics from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 14th. Finally, Canaccord Genuity Group decreased their price objective on Arcturus Therapeutics from $68.00 to $66.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Arcturus Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $54.00.

Arcturus Therapeutics Stock Down 3.7%

Shares of ARCT traded down $0.56 during midday trading on Monday, hitting $14.38. The company had a trading volume of 338,043 shares, compared to its average volume of 383,268. The stock has a market cap of $389.99 million, a price-to-earnings ratio of -5.68 and a beta of 2.27. The company's 50 day moving average price is $13.12 and its 200 day moving average price is $13.60. 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 Holdings Inc. has a 52 week low of $8.04 and a 52 week high of $25.88.

Arcturus Therapeutics (NASDAQ:ARCT - Get Free Report) last posted its quarterly 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 business had revenue of $29.38 million during the quarter, compared to analyst estimates of $25.64 million. Arcturus Therapeutics had a negative net margin of 47.47% and a negative return on equity of 27.41%. On average, equities research analysts predict that Arcturus Therapeutics Holdings Inc. will post -2.22 EPS for the current year.

Arcturus Therapeutics 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.