ARK Investment Management LLC Has $48.77 Million Stock Position in Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT)

ARK Investment Management LLC boosted its stake in shares of Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) by 6.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,101,038 shares of the biotechnology company’s stock after buying an additional 136,074 shares during the quarter. ARK Investment Management LLC owned approximately 0.08% of Arcturus Therapeutics worth $48,765,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the stock. Nordea Investment Management AB acquired a new position in shares of Arcturus Therapeutics in the first quarter valued at $1,846,000. Russell Investments Group Ltd. bought a new stake in Arcturus Therapeutics in the first quarter valued at $40,000. ProShare Advisors LLC acquired a new position in Arcturus Therapeutics during the first quarter worth $205,000. State Board of Administration of Florida Retirement System lifted its holdings in shares of Arcturus Therapeutics by 32.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 8,841 shares of the biotechnology company’s stock valued at $299,000 after acquiring an additional 2,160 shares during the period. Finally, CANADA LIFE ASSURANCE Co boosted its stake in shares of Arcturus Therapeutics by 10.5% in the 1st 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 in the last quarter. 94.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $63.00 price target on shares of Arcturus Therapeutics in a report on Tuesday, October 1st. Leerink Partners started coverage on Arcturus Therapeutics in a report on Monday, August 12th. They issued an “outperform” rating and a $70.00 target price on the stock. Leerink Partnrs raised Arcturus Therapeutics to a “strong-buy” rating in a report on Monday, August 12th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Arcturus Therapeutics in a report on Monday, September 9th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Arcturus Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $71.40.

Arcturus Therapeutics Trading Up 2.2 %

Shares of ARCT stock opened at $18.74 on Friday. The stock has a 50-day moving average price of $20.64 and a 200 day moving average price of $24.31. Arcturus Therapeutics Holdings Inc. has a 12 month low of $17.26 and a 12 month high of $45.00.

Arcturus Therapeutics (NASDAQ:ARCT) last posted its quarterly earnings results on Monday, August 5th. The biotechnology company reported ($0.64) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.85) by $1.21. The business 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 25.47% and a negative net margin of 41.21%. During the same period last year, the company earned ($1.98) EPS. Equities analysts forecast that Arcturus Therapeutics Holdings Inc. will post -2.6 EPS for the current fiscal year.

Insider Buying and Selling at Arcturus Therapeutics

In other news, COO Pad Chivukula sold 12,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $20.76, for a total transaction of $249,120.00. Following the completion of the transaction, the chief operating officer now directly owns 435,334 shares in the company, valued at approximately $9,037,533.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 15.30% 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.