Nikko Asset Management Americas Inc. Lowers Holdings in Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT)

Key Points

• Nikko Asset Management Americas Inc. reduced its position in Arcturus Therapeutics Holdings Inc. by 6.7%, holding 1,926,084 shares valued at $20.38 million.
• Analysts have mixed sentiments about the stock, with one recent report by Citigroup maintaining a "buy" rating while Wall Street Zen downgraded it to a "sell," resulting in a consensus rating of "Moderate Buy."
• Arcturus Therapeutics reported a quarterly earnings beat with revenues of $29.38 million, surpassing the estimated $25.64 million, although the company maintains a negative net margin of 47.47%.

Nikko Asset Management Americas Inc. lowered its position in shares of Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT - Free Report) by 6.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,926,084 shares of the biotechnology company's stock after selling 138,966 shares during the period. Nikko Asset Management Americas Inc. owned about 7.10% of Arcturus Therapeutics worth $20,378,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in ARCT. Byrne Asset Management LLC increased its holdings in Arcturus Therapeutics by 89.8% during 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 period. Virtus ETF Advisers LLC boosted its position in Arcturus Therapeutics by 38.8% during the fourth quarter. Virtus ETF Advisers LLC now owns 4,051 shares of the biotechnology company's stock valued at $69,000 after purchasing an additional 1,132 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Arcturus Therapeutics in the fourth quarter valued at about $71,000. National Bank of Canada FI raised its holdings in Arcturus Therapeutics by 639.6% in the fourth quarter. National Bank of Canada FI now owns 5,532 shares of the biotechnology company's stock worth $94,000 after purchasing an additional 4,784 shares in the last quarter. Finally, Kennedy Capital Management LLC lifted its position in shares of Arcturus Therapeutics by 22.7% during the fourth quarter. Kennedy Capital Management LLC now owns 10,987 shares of the biotechnology company's stock valued at $186,000 after buying an additional 2,036 shares during the last quarter. 94.54% of the stock is owned by hedge funds and other institutional investors.

Arcturus Therapeutics Stock Up 2.5%

NASDAQ:ARCT traded up $0.32 during mid-day trading on Wednesday, hitting $13.38. 188,190 shares of the company's stock traded hands, compared to its average volume of 434,921. The company has a fifty day moving average of $13.17 and a 200 day moving average of $13.57. Arcturus Therapeutics Holdings Inc. has a twelve month low of $8.04 and a twelve month high of $25.88. The company has a market capitalization of $362.88 million, a P/E ratio of -5.30 and a beta of 2.27. The company has a debt-to-equity ratio of 0.06, a quick ratio of 5.64 and a current ratio of 5.64.

Arcturus Therapeutics (NASDAQ:ARCT - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The biotechnology company reported ($0.52) earnings per share for the quarter, beating analysts' consensus estimates of ($1.58) by $1.06. The business had revenue of $29.38 million for the quarter, compared to analyst estimates of $25.64 million. Arcturus Therapeutics had a negative return on equity of 27.41% and a negative net margin of 47.47%. On average, analysts forecast that Arcturus Therapeutics Holdings Inc. will post -2.22 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ARCT. Scotiabank reaffirmed an "outperform" rating on shares of Arcturus Therapeutics in a research report on Wednesday, July 2nd. Wells Fargo & Company lowered their target price on shares of Arcturus Therapeutics from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Wednesday, May 14th. Citigroup reaffirmed a "buy" rating on shares of Arcturus Therapeutics in a research report on Tuesday, May 13th. Wall Street Zen cut Arcturus Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, July 5th. Finally, HC Wainwright restated a "buy" rating and set a $60.00 target price on shares of Arcturus Therapeutics in a research note on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $54.00.

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.