Arcturus Therapeutics (NASDAQ:ARCT) Now Covered by Analysts at B. Riley Financial

B. Riley Financial began coverage on shares of Arcturus Therapeutics (NASDAQ:ARCT) in a research report released on Wednesday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $22.00 price objective on the biotechnology company’s stock.

A number of other research firms have also commented on ARCT. Roth Mkm began coverage on shares of Arcturus Therapeutics in a research note on Thursday, January 22nd. They set a “buy” rating and a $20.00 price objective for the company. Wall Street Zen downgraded shares of Arcturus Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Piper Sandler cut their price target on shares of Arcturus Therapeutics from $72.00 to $25.00 and set an “overweight” rating on the stock in a report on Wednesday, March 4th. Citigroup reduced their price target on shares of Arcturus Therapeutics from $66.00 to $21.00 and set a “buy” rating for the company in a research report on Thursday, March 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcturus Therapeutics in a research note on Wednesday, January 21st. Nine equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Arcturus Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $29.50.

Arcturus Therapeutics Stock Up 2.5%

Shares of NASDAQ ARCT opened at $6.55 on Wednesday. The stock’s fifty day simple moving average is $7.42 and its 200 day simple moving average is $10.62. The stock has a market capitalization of $186.15 million, a price-to-earnings ratio of -2.75 and a beta of 2.40. Arcturus Therapeutics has a 52-week low of $5.85 and a 52-week high of $24.17.

Arcturus Therapeutics (NASDAQ:ARCT) last announced its earnings results on Tuesday, March 3rd. The biotechnology company reported ($1.03) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.11). The company had revenue of $7.20 million for the quarter, compared to analysts’ expectations of $14.32 million. Arcturus Therapeutics had a negative net margin of 80.19% and a negative return on equity of 29.13%. As a group, analysts anticipate that Arcturus Therapeutics will post -2.22 earnings per share for the current year.

Hedge Funds Weigh In On Arcturus Therapeutics

A number of large investors have recently made changes to their positions in ARCT. ARK Investment Management LLC boosted its holdings in shares of Arcturus Therapeutics by 9.2% during the third quarter. ARK Investment Management LLC now owns 1,872,721 shares of the biotechnology company’s stock worth $34,514,000 after purchasing an additional 157,681 shares during the period. Amova Asset Management Americas Inc. grew its position in Arcturus Therapeutics by 6.4% during the third quarter. Amova Asset Management Americas Inc. now owns 1,947,835 shares of the biotechnology company’s stock valued at $35,879,000 after purchasing an additional 117,632 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Arcturus Therapeutics by 6.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,947,835 shares of the biotechnology company’s stock valued at $35,899,000 after buying an additional 115,368 shares during the period. Byrne Asset Management LLC increased its stake in Arcturus Therapeutics by 4,412.5% in the 4th quarter. Byrne Asset Management LLC now owns 18,050 shares of the biotechnology company’s stock valued at $111,000 after buying an additional 17,650 shares during the period. Finally, Green Alpha Advisors LLC lifted its position in Arcturus Therapeutics by 31.9% in the 4th quarter. Green Alpha Advisors LLC now owns 28,282 shares of the biotechnology company’s stock worth $173,000 after buying an additional 6,839 shares in the last quarter. Institutional investors and hedge funds own 94.54% of the company’s stock.

About Arcturus Therapeutics

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.