Sumitomo Mitsui Trust Group Inc. Sells 274,016 Shares of Arcturus Therapeutics Holdings Inc. $ARCT

Key Points

• Sumitomo Mitsui Trust Group cut its Arcturus Therapeutics stake by 14%, selling 274,016 shares in the third quarter; it still held about 5.94% of the company, valued at $23.1 million.
• Arcturus shares opened at $9.36, down 13.9%; the company reported quarterly revenue of $18.3 million and a loss of $0.26 per share, beating analysts’ estimates for both revenue and EPS.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $22.29, though recent ratings ranged from buy to sell.

Sumitomo Mitsui Trust Group Inc. reduced its position in shares of Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT - Free Report) by 14.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,689,107 shares of the biotechnology company's stock after selling 274,016 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 5.94% of Arcturus Therapeutics worth $23,124,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its stake in Arcturus Therapeutics by 648.6% in the third quarter. Versant Capital Management Inc now owns 3,032 shares of the biotechnology company's stock valued at $42,000 after buying an additional 2,627 shares during the period. Two Sigma Securities LLC bought a new position in Arcturus Therapeutics during the second quarter worth about $80,000. Diversify Advisory Services LLC acquired a new position in shares of Arcturus Therapeutics during the 2nd quarter worth about $91,000. ADAR1 Capital Management LLC acquired a new position in shares of Arcturus Therapeutics during the 1st quarter worth about $116,000. Finally, Corient Private Wealth LP acquired a new position in shares of Arcturus Therapeutics during the 2nd quarter worth about $117,000. 94.54% of the stock is currently owned by institutional investors and hedge funds.

Arcturus Therapeutics Stock Down 13.9%

Shares of ARCT opened at $9.36 on Friday. Arcturus Therapeutics Holdings Inc. has a twelve month low of $5.50 and a twelve month high of $17.96. The stock has a market capitalization of $266.01 million, a P/E ratio of -2.83 and a beta of 2.62. The company has a 50 day moving average of $13.22 and a 200-day moving average of $9.04.

Arcturus Therapeutics (NASDAQ:ARCT - Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The biotechnology company reported ($0.26) EPS for the quarter, topping analysts' consensus estimates of ($0.69) by $0.43. Arcturus Therapeutics had a negative net margin of 317.62% and a negative return on equity of 46.54%. The business had revenue of $18.30 million for the quarter, compared to analyst estimates of $8.00 million. On average, sell-side analysts anticipate that Arcturus Therapeutics Holdings Inc. will post -3.48 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on ARCT. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Arcturus Therapeutics in a research note on Thursday, October 15th. BTIG Research reduced their target price on Arcturus Therapeutics from $23.00 to $20.00 and set a "buy" rating on the stock in a report on Thursday, September 24th. Cantor Fitzgerald reissued an "overweight" rating on shares of Arcturus Therapeutics in a research note on Thursday, September 24th. Wall Street Zen cut Arcturus Therapeutics from a "hold" rating to a "sell" rating in a research note on Sunday, October 4th. Finally, Citigroup upgraded Arcturus Therapeutics from a "neutral" rating to a "buy" rating and increased their price target for the stock from $8.00 to $20.00 in a report on Thursday, September 24th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $22.29.

About Arcturus Therapeutics

Arcturus Therapeutics Holdings Inc is a biotechnology company headquartered in San Diego, California, focused on developing medicines based on messenger RNA (mRNA) and other RNA technologies. The company's platform includes LUNAR, a lipid-mediated delivery system designed to transport nucleic acids into cells, as well as technologies for producing and administering mRNA and self-amplifying RNA.

The company's development programs address infectious diseases and rare genetic disorders. Arcturus has developed KOSTAIVE, a self-amplifying mRNA COVID-19 vaccine known as ARCT-154, in collaboration with CSL.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.