Arcturus Therapeutics (NASDAQ:ARCT) Price Target Lowered to $7.00 at Citigroup

Arcturus Therapeutics (NASDAQ:ARCT) had its price objective reduced by Citigroup from $9.00 to $7.00 in a report published on Tuesday morning,Benzinga reports. They currently have a neutral rating on the biotechnology company’s stock.

ARCT has been the subject of a number of other reports. Guggenheim downgraded shares of Arcturus Therapeutics from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Arcturus Therapeutics in a research note on Wednesday, October 8th. Wall Street Zen lowered Arcturus Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Piper Sandler decreased their price objective on Arcturus Therapeutics from $140.00 to $72.00 and set an “overweight” rating for the company in a report on Tuesday, November 11th. Finally, BTIG Research lowered their price objective on Arcturus Therapeutics from $48.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, October 22nd. Seven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $35.75.

Arcturus Therapeutics Stock Up 3.8%

Shares of NASDAQ ARCT opened at $6.61 on Tuesday. The firm’s fifty day moving average is $7.18 and its 200 day moving average is $13.16. Arcturus Therapeutics has a 52 week low of $5.85 and a 52 week high of $24.17. The company has a market cap of $187.79 million, a price-to-earnings ratio of -2.69 and a beta of 2.24.

Arcturus Therapeutics (NASDAQ:ARCT) last released its quarterly earnings data on Monday, November 10th. The biotechnology company reported ($0.49) earnings per share for the quarter, topping the consensus estimate of ($1.09) by $0.60. Arcturus Therapeutics had a negative return on equity of 28.68% and a negative net margin of 68.35%.The business had revenue of $17.15 million during the quarter, compared to analysts’ expectations of $17.47 million. Equities research analysts anticipate that Arcturus Therapeutics will post -2.22 earnings per share for the current year.

Institutional Investors Weigh In On Arcturus Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC bought a new position in shares of Arcturus Therapeutics during the first quarter valued at $128,000. Jacobs Levy Equity Management Inc. grew its position in Arcturus Therapeutics by 20.6% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 144,141 shares of the biotechnology company’s stock valued at $1,526,000 after purchasing an additional 24,583 shares during the last quarter. Millennium Management LLC bought a new stake in Arcturus Therapeutics during the 1st quarter valued at about $4,892,000. Dynamic Technology Lab Private Ltd purchased a new position in Arcturus Therapeutics in the first quarter worth about $299,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Arcturus Therapeutics by 9.1% in the first quarter. Goldman Sachs Group Inc. now owns 509,712 shares of the biotechnology company’s stock worth $5,398,000 after buying an additional 42,636 shares in the last quarter. 94.54% of the stock is owned by institutional investors.

Arcturus Therapeutics Company Profile

Arcturus Therapeutics Holdings Inc is a clinical-stage biotechnology company dedicated to developing messenger RNA (mRNA) medicines that address a range of diseases. The company leverages its proprietary STARR® mRNA platform to enable precise control over mRNA expression, supported by its lipid nanoparticle delivery technology, LUNAR®. Arcturus’s approach is designed to address both therapeutic and prophylactic applications, with an emphasis on vaccines and treatments for rare genetic and infectious diseases.

The company’s pipeline includes ARCT-810, an mRNA therapeutic candidate for phenylketonuria (PKU), and ARCT-021 (also known as LUNAR-COV19), a COVID-19 vaccine candidate developed in collaboration with Duke-NUS Medical School in Singapore.