Bank of New York Mellon Corp Invests $540,000 in Arcturus Therapeutics Holdings Inc. $ARCT

Key Points

• Bank of New York Mellon initiated a position in Arcturus Therapeutics, purchasing 80,314 shares valued at approximately $540,000, or about 0.28% of the company.
• Institutional ownership remains high at 94.54%, with ARK Investment Management, Amova Asset Management, Sumitomo Mitsui Trust, Vanguard, and Bank of America among notable holders increasing their stakes.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $23.00. Arcturus recently reported a quarterly loss of $0.84 per share, better than the expected $1.00 loss, but revenue of $2.96 million fell short of estimates.

Bank of New York Mellon Corp purchased a new stake in Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 80,314 shares of the biotechnology company's stock, valued at approximately $540,000. Bank of New York Mellon Corp owned approximately 0.28% of Arcturus Therapeutics as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. ARK Investment Management LLC grew its holdings in Arcturus Therapeutics by 39.4% in the fourth quarter. ARK Investment Management LLC now owns 2,611,099 shares of the biotechnology company's stock valued at $16,006,000 after purchasing an additional 738,378 shares during the period. Amova Asset Management Americas Inc. lifted its position in shares of Arcturus Therapeutics by 12.9% during the 1st quarter. Amova Asset Management Americas Inc. now owns 2,288,935 shares of the biotechnology company's stock valued at $17,648,000 after buying an additional 262,347 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in Arcturus Therapeutics by 12.9% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,288,935 shares of the biotechnology company's stock valued at $17,671,000 after acquiring an additional 262,347 shares during the period. Vanguard Group Inc. grew its stake in Arcturus Therapeutics by 4.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,885,605 shares of the biotechnology company's stock valued at $34,752,000 after acquiring an additional 75,440 shares during the period. Finally, Bank of America Corp DE grew its stake in Arcturus Therapeutics by 112.0% in the 3rd quarter. Bank of America Corp DE now owns 620,055 shares of the biotechnology company's stock valued at $11,428,000 after acquiring an additional 327,626 shares during the period. Institutional investors and hedge funds own 94.54% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on ARCT. Weiss Ratings reiterated a "sell (d-)" rating on shares of Arcturus Therapeutics in a research note on Friday, July 17th. Roth Capital reaffirmed a "buy" rating and issued a $41.00 price target on shares of Arcturus Therapeutics in a research note on Wednesday, September 2nd. Finally, Wall Street Zen upgraded Arcturus Therapeutics from a "strong sell" rating to a "sell" rating in a research report on Sunday, August 9th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $23.00.

Arcturus Therapeutics Price Performance

Shares of Arcturus Therapeutics stock opened at $14.73 on Friday. The stock's 50 day simple moving average is $9.57 and its 200-day simple moving average is $8.33. The stock has a market cap of $418.67 million, a P/E ratio of -4.45 and a beta of 2.48. Arcturus Therapeutics Holdings Inc. has a 1-year low of $5.50 and a 1-year high of $24.17.

Arcturus Therapeutics (NASDAQ:ARCT - Get Free Report) last issued its earnings results on Friday, August 7th. The biotechnology company reported ($0.84) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.00) by $0.16. Arcturus Therapeutics had a negative return on equity of 46.54% and a negative net margin of 317.62%.The business had revenue of $2.96 million during the quarter, compared to the consensus estimate of $3.11 million. As a group, research analysts expect that Arcturus Therapeutics Holdings Inc. will post -3.48 EPS for the current fiscal year.

Arcturus Therapeutics Profile

Arcturus Therapeutics Holdings Inc is a clinical-stage biotechnology company dedicated to developing messenger RNA (mRNA) medicines that address a range of diseases. The company leverages its proprietary STARR® mRNA platform to enable precise control over mRNA expression, supported by its lipid nanoparticle delivery technology, LUNAR®. Arcturus's approach is designed to address both therapeutic and prophylactic applications, with an emphasis on vaccines and treatments for rare genetic and infectious diseases.

The company's pipeline includes ARCT-810, an mRNA therapeutic candidate for phenylketonuria (PKU), and ARCT-021 (also known as LUNAR-COV19), a COVID-19 vaccine candidate developed in collaboration with Duke-NUS Medical School in Singapore.

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