Nikko Asset Management Americas Inc. Sells 138,966 Shares of 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. trimmed its position in Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT - Free Report) by 6.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,926,084 shares of the biotechnology company's stock after selling 138,966 shares during the quarter. Nikko Asset Management Americas Inc. owned approximately 7.10% of Arcturus Therapeutics worth $20,378,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Byrne Asset Management LLC raised its position in shares of 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 purchasing an additional 1,365 shares during the period. Virtus ETF Advisers LLC boosted its stake in shares of 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 purchasing an additional 1,132 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in Arcturus Therapeutics during the 4th quarter worth about $71,000. National Bank of Canada FI lifted its position in Arcturus Therapeutics by 639.6% during the 4th quarter. National Bank of Canada FI now owns 5,532 shares of the biotechnology company's stock worth $94,000 after buying an additional 4,784 shares in the last quarter. Finally, Kennedy Capital Management LLC lifted its position in Arcturus Therapeutics by 22.7% during the 4th quarter. Kennedy Capital Management LLC now owns 10,987 shares of the biotechnology company's stock worth $186,000 after buying an additional 2,036 shares in the last quarter. 94.54% of the stock is currently owned by institutional investors and hedge funds.

Arcturus Therapeutics Stock Performance

Shares of NASDAQ:ARCT traded down $0.56 during midday trading on Monday, hitting $14.38. 338,043 shares of the stock were exchanged, compared to its average volume of 383,268. The business's 50-day moving average price is $13.12 and its 200 day moving average price is $13.60. Arcturus Therapeutics Holdings Inc. has a 12 month low of $8.04 and a 12 month high of $25.88. 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 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. Arcturus Therapeutics had a negative return on equity of 27.41% and a negative net margin of 47.47%. The business had revenue of $29.38 million for the quarter, compared to analysts' expectations of $25.64 million. On average, analysts forecast that Arcturus Therapeutics Holdings Inc. will post -2.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Arcturus Therapeutics Company 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.