Arcturus Therapeutics (NASDAQ:ARCT) Stock Price Breaks Below 200-Day Moving Average - What's Next?

Key Points

• Arcturus shares fell 9.3% and traded below their 200-day moving average of $9.09, reaching $8.42 before last trading at $8.44.
• Analysts remain broadly positive: the stock has a consensus “Buy” rating and an average price target of $24.50, despite one “Sell” rating.
• The company beat quarterly estimates, reporting a loss of $0.26 per share versus the expected $0.69 loss, and revenue of $18.3 million versus $8 million expected.

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT - Get Free Report)'s share price passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $9.09 and traded as low as $8.42. Arcturus Therapeutics shares last traded at $8.44, with a volume of 430,117 shares.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Arcturus Therapeutics in a research report on Thursday, October 15th. Leerink Partners raised their price target on shares of Arcturus Therapeutics from $13.00 to $19.00 and gave the company an "outperform" rating in a research report on Friday, October 9th. Citigroup upgraded shares of Arcturus Therapeutics from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $8.00 to $20.00 in a research note on Thursday, September 24th. Cantor Fitzgerald restated an "overweight" rating on shares of Arcturus Therapeutics in a research note on Thursday, September 24th. Finally, Roth Capital reaffirmed a "buy" rating and set a $41.00 price objective on shares of Arcturus Therapeutics in a research report on Wednesday, September 2nd. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $24.50.

Arcturus Therapeutics Trading Down 9.3%

The firm has a 50 day moving average price of $12.57 and a 200-day moving average price of $9.09. The firm has a market cap of $243.24 million, a PE ratio of -2.74 and a beta of 2.62.

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 return on equity of 46.79% and a negative net margin of 285.92%. The business had revenue of $18.30 million during the quarter, compared to the consensus estimate of $8.00 million. Equities analysts forecast that Arcturus Therapeutics Holdings Inc. will post -2.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Amova Asset Management Americas Inc. increased its position in shares of Arcturus Therapeutics by 12.9% in the 1st quarter. Amova Asset Management Americas Inc. now owns 2,288,935 shares of the biotechnology company's stock valued at $17,648,000 after purchasing an additional 262,347 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Arcturus Therapeutics during the second quarter worth $17,566,000. Hennion & Walsh Asset Management Inc. grew its stake in shares of Arcturus Therapeutics by 23.8% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 346,207 shares of the biotechnology company's stock worth $2,327,000 after purchasing an additional 66,528 shares in the last quarter. Heartland Advisors Inc. acquired a new position in shares of Arcturus Therapeutics during the first quarter worth $1,976,000. Finally, Renaissance Technologies LLC grew its stake in shares of Arcturus Therapeutics by 48.7% during the first quarter. Renaissance Technologies LLC now owns 178,300 shares of the biotechnology company's stock worth $1,376,000 after purchasing an additional 58,395 shares in the last quarter. Institutional investors and hedge funds own 94.54% of the company's stock.

About Arcturus Therapeutics

Arcturus Therapeutics Holdings Inc. is a biotechnology company founded in 2013 and headquartered in San Diego, California. It develops RNA medicines and vaccines, using its LUNAR lipid-mediated delivery technology and self-amplifying RNA platform to deliver genetic instructions to cells. The company's pipeline includes investigational treatments for rare diseases, such as ARCT-032 for cystic fibrosis and ARCT-810 for ornithine transcarbamylase deficiency. It has also developed ARCT-154, a self-amplifying mRNA COVID-19 vaccine approved in Japan as Kostaive, and works with partners on the development and commercialization of its products.

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