Wells Fargo & Company Issues Pessimistic Forecast for Arcturus Therapeutics (NASDAQ:ARCT) Stock Price

Key Points

• Wells Fargo & Company has reduced its target price for Arcturus Therapeutics from $45.00 to $42.00 while maintaining an "overweight" rating, suggesting a potential upside of 268.74% from the current share price.
• Arcturus Therapeutics reported earnings of ($0.34) per share for the last quarter, significantly exceeding the consensus estimate of ($1.11) by $0.77, alongside a revenue of $28.30 million compared to expectations of $17.64 million.
• Institutional investors hold a substantial 94.54% of Arcturus Therapeutics' stock, indicating strong backing from major financial players in the market.

Arcturus Therapeutics (NASDAQ:ARCT - Free Report) had its price target lowered by Wells Fargo & Company from $45.00 to $42.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the biotechnology company's stock.

A number of other research firms have also weighed in on ARCT. Scotiabank reiterated an "outperform" rating on shares of Arcturus Therapeutics in a research note on Wednesday, July 2nd. Citigroup reiterated a "buy" rating and issued a $49.00 price objective (up from $47.00) on shares of Arcturus Therapeutics in a research note on Tuesday. Canaccord Genuity Group cut their price target on shares of Arcturus Therapeutics from $68.00 to $66.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Finally, Wall Street Zen raised shares of Arcturus Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $50.00.

Arcturus Therapeutics Trading Up 0.1%

NASDAQ ARCT traded up $0.02 during trading hours on Tuesday, hitting $19.23. The company's stock had a trading volume of 1,649,244 shares, compared to its average volume of 552,997. Arcturus Therapeutics has a 52 week low of $8.04 and a 52 week high of $25.88. The company has a market capitalization of $522.29 million, a PE ratio of -8.62 and a beta of 2.26. The company's 50-day simple moving average is $13.44 and its two-hundred day simple moving average is $13.31.

Arcturus Therapeutics (NASDAQ:ARCT - Get Free Report) last posted its earnings results on Monday, August 11th. The biotechnology company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($1.11) by $0.77. Arcturus Therapeutics had a negative net margin of 49.26% and a negative return on equity of 24.87%. The firm had revenue of $28.30 million for the quarter, compared to analysts' expectations of $17.64 million. Research analysts anticipate that Arcturus Therapeutics will post -2.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARCT. Deutsche Bank AG lifted its stake in Arcturus Therapeutics by 42.7% in the fourth quarter. Deutsche Bank AG now owns 24,768 shares of the biotechnology company's stock worth $420,000 after purchasing an additional 7,417 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Arcturus Therapeutics in the first quarter worth $244,000. Vanguard Group Inc. lifted its stake in Arcturus Therapeutics by 6.8% in the fourth quarter. Vanguard Group Inc. now owns 1,684,561 shares of the biotechnology company's stock worth $28,587,000 after purchasing an additional 107,635 shares during the last quarter. GAMMA Investing LLC lifted its stake in Arcturus Therapeutics by 3,482.9% in the first quarter. GAMMA Investing LLC now owns 5,231 shares of the biotechnology company's stock worth $550,000 after purchasing an additional 5,085 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Arcturus Therapeutics by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 554,984 shares of the biotechnology company's stock worth $9,421,000 after purchasing an additional 3,186 shares during the last quarter. 94.54% of the stock is currently owned by hedge funds and other institutional investors.

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.