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

Zacks Investment Research cut shares of Arcturus Therapeutics (NASDAQ:ARCTGet Rating) from a hold rating to a sell rating in a report released on Wednesday morning, 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. “

Other equities research analysts have also issued research reports about the company. Raymond James upgraded Arcturus Therapeutics from an underperform rating to a market perform rating in a research note on Monday, January 31st. HC Wainwright reduced their target price on shares of Arcturus Therapeutics from $25.00 to $19.00 in a research report on Tuesday. Barclays dropped their price target on shares of Arcturus Therapeutics from $21.00 to $17.00 in a research note on Tuesday. Robert W. Baird upgraded Arcturus Therapeutics from an underperform rating to a neutral rating and reduced their target price for the company from $21.00 to $18.00 in a research note on Wednesday. Finally, Guggenheim reduced their price target on shares of Arcturus Therapeutics from $83.00 to $36.00 in a research report on Wednesday. Five equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $40.22.

NASDAQ ARCT opened at $13.04 on Wednesday. The firm has a market capitalization of $344.50 million, a price-to-earnings ratio of -1.68 and a beta of 2.79. Arcturus Therapeutics has a one year low of $12.87 and a one year high of $65.00. The company’s 50 day moving average price is $23.38 and its 200 day moving average price is $30.02.

Arcturus Therapeutics (NASDAQ:ARCTGet Rating) last released its quarterly earnings data on Monday, May 9th. The biotechnology company reported ($1.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.44) by ($0.50). Arcturus Therapeutics had a negative return on equity of 61.88% and a negative net margin of 1,647.99%. During the same quarter last year, the business posted ($2.15) earnings per share. As a group, sell-side analysts anticipate that Arcturus Therapeutics will post -4.59 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE lifted its stake in Arcturus Therapeutics by 26.6% in the second quarter. Bank of America Corp DE now owns 15,474 shares of the biotechnology company’s stock valued at $524,000 after acquiring an additional 3,248 shares during the last quarter. Invesco Ltd. increased its position in Arcturus Therapeutics by 54.3% during the second quarter. Invesco Ltd. now owns 8,754 shares of the biotechnology company’s stock worth $295,000 after buying an additional 3,079 shares during the last quarter. Morgan Stanley lifted its position in shares of Arcturus Therapeutics by 179.6% in the second quarter. Morgan Stanley now owns 247,544 shares of the biotechnology company’s stock worth $8,377,000 after buying an additional 159,019 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Arcturus Therapeutics during the 3rd quarter worth about $706,000. Finally, M&G Investment Management Ltd. acquired a new position in shares of Arcturus Therapeutics during the 3rd quarter valued at about $394,000. 80.10% of the stock is owned by institutional investors and hedge funds.

Arcturus Therapeutics Company Profile (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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