Arcturus Therapeutics (NASDAQ:ARCT) Shares Gap Up to $18.08

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) gapped up before the market opened on Monday . The stock had previously closed at $18.08, but opened at $19.19. Arcturus Therapeutics shares last traded at $18.92, with a volume of 118,100 shares trading hands.

Wall Street Analyst Weigh In

ARCT has been the topic of several research reports. William Blair reaffirmed an “outperform” rating on shares of Arcturus Therapeutics in a research report on Thursday, May 23rd. SVB Leerink assumed coverage on Arcturus Therapeutics in a research note on Monday. They issued an “outperform” rating and a $70.00 price objective on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Arcturus Therapeutics in a report on Tuesday, August 6th. Canaccord Genuity Group reduced their price target on shares of Arcturus Therapeutics from $87.00 to $86.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Finally, HC Wainwright raised their target price on shares of Arcturus Therapeutics from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Arcturus Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $68.50.

Arcturus Therapeutics Price Performance

The firm has a market capitalization of $510.90 million, a PE ratio of -4.95 and a beta of 2.64. The stock has a 50-day moving average price of $25.76 and a 200-day moving average price of $30.61.

Arcturus Therapeutics (NASDAQ:ARCT) last announced its earnings results on Monday, August 5th. The biotechnology company reported ($0.64) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.85) by $1.21. The company had revenue of $49.86 million for the quarter, compared to analyst estimates of $21.00 million. Arcturus Therapeutics had a negative return on equity of 37.61% and a negative net margin of 81.59%. During the same period in the prior year, the company posted ($1.98) EPS. As a group, equities research analysts predict that Arcturus Therapeutics Holdings Inc. will post -4.74 earnings per share for the current fiscal year.

Insider Activity at Arcturus Therapeutics

In other Arcturus Therapeutics news, COO Pad Chivukula sold 26,000 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $40.01, for a total transaction of $1,040,260.00. Following the completion of the transaction, the chief operating officer now directly owns 447,448 shares of the company’s stock, valued at approximately $17,902,394.48. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 13.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Russell Investments Group Ltd. bought a new position in shares of Arcturus Therapeutics in the 1st quarter worth about $40,000. AJOVista LLC acquired a new position in Arcturus Therapeutics in the fourth quarter valued at approximately $65,000. Quest Partners LLC bought a new position in shares of Arcturus Therapeutics during the fourth quarter valued at approximately $67,000. CANADA LIFE ASSURANCE Co grew its holdings in shares of Arcturus Therapeutics by 10.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 4,492 shares of the biotechnology company’s stock valued at $152,000 after purchasing an additional 428 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its position in shares of Arcturus Therapeutics by 63.8% during the 1st quarter. Public Employees Retirement System of Ohio now owns 4,620 shares of the biotechnology company’s stock worth $156,000 after purchasing an additional 1,800 shares during the period. Institutional investors own 94.54% of the company’s stock.

About Arcturus Therapeutics

Arcturus Therapeutics Holdings Inc, a late-stage clinical messenger RNA medicines and vaccine company, focuses on the development of infectious disease vaccines and other products within liver and respiratory rare diseases. Its technology platforms include LUNAR lipid-mediated delivery and STARR mRNA.