Goldman Sachs Group Inc. Boosts Holdings in Arcturus Therapeutics Holdings Inc. $ARCT

Key Points

• Goldman Sachs Group Inc. increased its holdings in Arcturus Therapeutics by 9.1%, acquiring an additional 42,636 shares to own approximately 1.88% of the company, valued at $5.4 million.
• Several institutional investors, including ARK Investment Management and Vanguard Group, have also boosted their stakes in Arcturus Therapeutics, which is predominantly owned (94.54%) by institutional investors.
• Arcturus Therapeutics reported a better-than-expected quarterly earnings result with revenue of $28.3 million, surpassing analyst expectations, and a narrower loss per share of ($0.34) compared to a consensus estimate of ($1.11).

Goldman Sachs Group Inc. increased its stake in shares of Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT - Free Report) by 9.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 509,712 shares of the biotechnology company's stock after purchasing an additional 42,636 shares during the quarter. Goldman Sachs Group Inc. owned approximately 1.88% of Arcturus Therapeutics worth $5,398,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ARCT. Byrne Asset Management LLC raised its stake in Arcturus Therapeutics by 89.8% in the first 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 last quarter. US Bancorp DE boosted its stake 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 worth $36,000 after acquiring an additional 2,329 shares during the last quarter. Strs Ohio acquired a new stake in shares of Arcturus Therapeutics in the first quarter worth approximately $89,000. Russell Investments Group Ltd. boosted its stake 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 worth $125,000 after acquiring an additional 11,799 shares during the last quarter. Finally, AQR Capital Management LLC acquired a new position in Arcturus Therapeutics during the first quarter worth $128,000. 94.54% of the stock is currently owned by hedge funds and other institutional investors.

Arcturus Therapeutics Stock Performance

Shares of NASDAQ ARCT traded up $0.84 during trading on Friday, hitting $20.46. The company had a trading volume of 1,120,684 shares, compared to its average volume of 498,454. The company has a market cap of $555.69 million, a P/E ratio of -9.17 and a beta of 2.39. Arcturus Therapeutics Holdings Inc. has a 52 week low of $8.04 and a 52 week high of $25.88. The business's 50-day moving average is $15.86 and its 200 day moving average is $13.52.

Arcturus Therapeutics (NASDAQ:ARCT - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The biotechnology company reported ($0.34) earnings per share for the quarter, topping 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 firm had revenue of $28.30 million for the quarter, compared to analysts' expectations of $17.64 million. On average, research analysts expect that Arcturus Therapeutics Holdings Inc. will post -2.22 EPS for the current year.

Wall Street Analyst Weigh In

ARCT has been the topic of a number of recent research reports. Wells Fargo & Company lowered their price objective on Arcturus Therapeutics from $45.00 to $42.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 12th. HC Wainwright initiated coverage on Arcturus Therapeutics in a research report on Thursday, September 4th. They issued a "buy" rating and a $60.00 target price on the stock. Scotiabank restated an "outperform" rating on shares of Arcturus Therapeutics in a research report on Wednesday, July 2nd. Citigroup restated a "buy" rating and issued a $49.00 target price (up previously from $47.00) on shares of Arcturus Therapeutics in a research report on Tuesday, August 12th. Finally, Leerink Partners reduced their target price on Arcturus Therapeutics from $63.00 to $54.00 and set an "outperform" rating on the stock in a research report on Friday, August 22nd. Eight equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Arcturus Therapeutics presently has an average rating of "Buy" and an average target price of $50.57.

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.