Vestal Point Capital LP Makes New Investment in Arcturus Therapeutics Holdings Inc. $ARCT

Key Points

• Vestal Point Capital LP invested approximately $2.24 million in Arcturus Therapeutics, acquiring about 211,790 shares during the first quarter, which represents a 0.78% ownership in the company.
• Several institutional investors, including Balyasny Asset Management and ARK Investment Management, have significantly increased their positions in Arcturus, indicating strong interest among large investment firms.
• Arcturus Therapeutics recently reported better-than-expected earnings of ($0.34) per share, surpassing forecasts, and generating revenue of $28.30 million for the quarter, reflecting positive growth prospects despite negative margins.

Vestal Point Capital LP purchased a new position in Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 211,790 shares of the biotechnology company's stock, valued at approximately $2,243,000. Vestal Point Capital LP owned approximately 0.78% of Arcturus Therapeutics at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. ARK Investment Management LLC boosted its holdings in shares of Arcturus Therapeutics by 3.9% during the 1st quarter. ARK Investment Management LLC now owns 2,008,480 shares of the biotechnology company's stock valued at $21,270,000 after purchasing an additional 74,629 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Arcturus Therapeutics by 3.8% in the first quarter. Vanguard Group Inc. now owns 1,748,928 shares of the biotechnology company's stock worth $18,521,000 after buying an additional 64,367 shares in the last quarter. Woodline Partners LP lifted its position in shares of Arcturus Therapeutics by 3.5% in the fourth quarter. Woodline Partners LP now owns 806,912 shares of the biotechnology company's stock worth $13,693,000 after buying an additional 26,956 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in Arcturus Therapeutics during the fourth quarter valued at approximately $9,312,000. Finally, MPM Bioimpact LLC grew its holdings in Arcturus Therapeutics by 109.5% during the 4th quarter. MPM Bioimpact LLC now owns 459,943 shares of the biotechnology company's stock valued at $7,805,000 after buying an additional 240,435 shares in the last quarter. 94.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ARCT has been the subject of a number of recent research reports. Wall Street Zen raised shares of Arcturus Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Canaccord Genuity Group lowered their price objective on shares of Arcturus Therapeutics from $68.00 to $66.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Scotiabank restated an "outperform" rating on shares of Arcturus Therapeutics in a report on Wednesday, July 2nd. Leerink Partners lowered their price target on shares of Arcturus Therapeutics from $63.00 to $54.00 and set an "outperform" rating for the company in a report on Friday, August 22nd. Finally, Citigroup reiterated a "buy" rating and issued a $49.00 price target (up previously from $47.00) on shares of Arcturus Therapeutics in a research report on Tuesday, August 12th. Eight research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $50.57.

Arcturus Therapeutics Stock Up 6.5%

NASDAQ:ARCT traded up $1.09 during mid-day trading on Friday, hitting $17.85. 511,439 shares of the stock traded hands, compared to its average volume of 738,803. The stock has a market capitalization of $484.72 million, a price-to-earnings ratio of -8.00 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 firm's 50 day moving average is $14.93 and its two-hundred day moving average is $13.39.

Arcturus Therapeutics (NASDAQ:ARCT - Get Free Report) last released its earnings results 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 return on equity of 24.87% and a negative net margin of 49.26%.The business had revenue of $28.30 million during the quarter, compared to the consensus estimate of $17.64 million. As a group, research analysts predict that Arcturus Therapeutics Holdings Inc. will post -2.22 EPS for the current year.

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.