Arcturus Therapeutics (NASDAQ:ARCT) Lowered to “Neutral” at Citigroup

Arcturus Therapeutics (NASDAQ:ARCTGet Rating) was downgraded by Citigroup from a “buy” rating to a “neutral” rating in a report released on Thursday, April 21st, Marketbeat.com reports. They presently have a $29.00 target price on the biotechnology company’s stock, down from their prior target price of $86.00. Citigroup’s price objective suggests a potential upside of 28.38% from the stock’s previous close.

Several other research analysts have also weighed in on ARCT. Cantor Fitzgerald lowered their price objective on Arcturus Therapeutics from $93.00 to $86.00 in a research report on Tuesday, March 1st. Barclays lowered their price objective on Arcturus Therapeutics from $31.00 to $21.00 in a research report on Tuesday, March 1st. Zacks Investment Research lowered Arcturus Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, January 28th. HC Wainwright lowered their price objective on Arcturus Therapeutics from $47.00 to $25.00 in a research report on Tuesday, March 1st. Finally, Wells Fargo & Company decreased their price target on Arcturus Therapeutics from $107.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday, March 25th. Six investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Arcturus Therapeutics has a consensus rating of “Hold” and an average target price of $43.63.

NASDAQ:ARCT traded up $1.08 during trading hours on Thursday, hitting $22.59. 450,542 shares of the stock were exchanged, compared to its average volume of 577,992. Arcturus Therapeutics has a 52-week low of $16.93 and a 52-week high of $65.00. The firm’s fifty day moving average price is $23.93 and its 200 day moving average price is $31.04. The company has a market cap of $595.81 million, a P/E ratio of -2.92 and a beta of 2.79.

Arcturus Therapeutics (NASDAQ:ARCTGet Rating) last posted its quarterly earnings results on Monday, February 28th. The biotechnology company reported ($1.47) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.77) by $0.30. The business had revenue of $5.79 million during the quarter, compared to analyst estimates of $12.90 million. Arcturus Therapeutics had a negative return on equity of 61.88% and a negative net margin of 1,647.99%. During the same period in the prior year, the business earned ($1.25) earnings per share. As a group, sell-side analysts expect that Arcturus Therapeutics will post -4.59 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of ARCT. Allspring Global Investments Holdings LLC purchased a new position in shares of Arcturus Therapeutics during the fourth quarter worth about $32,000. KRS Capital Management LLC purchased a new position in shares of Arcturus Therapeutics during the fourth quarter worth about $51,000. Daiwa Securities Group Inc. grew its holdings in shares of Arcturus Therapeutics by 4,487.0% during the third quarter. Daiwa Securities Group Inc. now owns 2,110 shares of the biotechnology company’s stock worth $101,000 after purchasing an additional 2,064 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Arcturus Therapeutics during the third quarter worth about $116,000. Finally, Byrne Asset Management LLC purchased a new position in shares of Arcturus Therapeutics during the fourth quarter worth about $114,000. 80.10% of the stock is currently owned by hedge funds and other institutional investors.

About Arcturus Therapeutics (Get Rating)

Arcturus Therapeutics Holdings Inc, an RNA medicines company, focuses on the development of vaccines for infectious, and liver and respiratory rare diseases in the United States. The company's development programs comprise LUNAR-OTC development program for ornithine transcarbamylase (OTC) deficiency; and LUNAR-CF program for cystic fibrosis lung disease caused by mutations in cystic fibrosis transmembrane conductance regulator (CFTR) gene, as well as vaccine programs include LUNAR-COV19 and LUNAR-FLU.

Featured Articles

Analyst Recommendations for Arcturus Therapeutics (NASDAQ:ARCT)

Receive News & Ratings for Arcturus Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arcturus Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.