Arcturus Therapeutics (NASDAQ:ARCT) Rating Lowered to Sell at Zacks Investment Research

Arcturus Therapeutics (NASDAQ:ARCTGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday, Zacks.com reports.

According to Zacks, “Arcturus Therapeutics Ltd. is a preclinical-stage biopharmaceutical company. It focuses on the discovery, development and commercialization of RNA medicines using proprietary lipid-mediated delivery system LUNAR(TM) and UNA Oligomer chemistry technologies. Arcturus Therapeutics Ltd, formerly known as Alcobra Ltd, is based in San Diego, CA. “

A number of other brokerages have also commented on ARCT. StockNews.com assumed coverage on Arcturus Therapeutics in a report on Thursday, March 31st. They set a “sell” rating on the stock. Citigroup lowered Arcturus Therapeutics from a “buy” rating to a “neutral” rating and lowered their target price for the company from $86.00 to $29.00 in a research note on Thursday, April 21st. Barclays reduced their price target on Arcturus Therapeutics from $31.00 to $21.00 in a research report on Tuesday, March 1st. Cantor Fitzgerald reduced their price target on Arcturus Therapeutics from $93.00 to $86.00 in a research report on Tuesday, March 1st. Finally, HC Wainwright reduced their target price on Arcturus Therapeutics from $47.00 to $25.00 in a research report on Tuesday, March 1st. Six investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Arcturus Therapeutics has an average rating of “Hold” and a consensus price target of $43.63.

Shares of ARCT traded up $1.74 during mid-day trading on Monday, reaching $21.12. 36,982 shares of the company were exchanged, compared to its average volume of 583,621. Arcturus Therapeutics has a 52 week low of $16.93 and a 52 week high of $65.00. The stock has a market capitalization of $557.04 million, a PE ratio of -2.73 and a beta of 2.74. The business has a 50 day simple moving average of $23.95 and a two-hundred day simple moving average of $31.28.

Arcturus Therapeutics (NASDAQ:ARCTGet Rating) last released its earnings results on Monday, February 28th. The biotechnology company reported ($1.47) EPS for the quarter, topping the consensus estimate of ($1.77) by $0.30. Arcturus Therapeutics had a negative return on equity of 61.88% and a negative net margin of 1,647.99%. The business had revenue of $5.79 million during the quarter, compared to analysts’ expectations of $12.90 million. During the same quarter last year, the firm posted ($1.25) earnings per share. Equities research analysts predict that Arcturus Therapeutics will post -4.59 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of Arcturus Therapeutics by 2.7% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 10,401 shares of the biotechnology company’s stock valued at $497,000 after buying an additional 270 shares during the period. California State Teachers Retirement System raised its holdings in Arcturus Therapeutics by 1.9% during the fourth quarter. California State Teachers Retirement System now owns 29,197 shares of the biotechnology company’s stock valued at $1,081,000 after acquiring an additional 557 shares during the period. DekaBank Deutsche Girozentrale grew its position in shares of Arcturus Therapeutics by 2.6% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 23,700 shares of the biotechnology company’s stock valued at $920,000 after purchasing an additional 600 shares in the last quarter. Green Alpha Advisors LLC grew its position in shares of Arcturus Therapeutics by 3.6% during the fourth quarter. Green Alpha Advisors LLC now owns 20,949 shares of the biotechnology company’s stock valued at $775,000 after purchasing an additional 726 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Arcturus Therapeutics by 9.6% during the third quarter. Invesco Ltd. now owns 9,593 shares of the biotechnology company’s stock valued at $459,000 after purchasing an additional 839 shares in the last quarter. 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.

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