Arcturus Therapeutics (NASDAQ:ARCT) Stock Passes Below 200 Day Moving Average – Here’s What Happened
by Danessa Lincoln · The Markets DailyArcturus Therapeutics Holdings Inc. (NASDAQ:ARCT – Get Free Report)’s stock price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $13.38 and traded as low as $6.09. Arcturus Therapeutics shares last traded at $6.19, with a volume of 452,696 shares trading hands.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on ARCT. BTIG Research cut their price objective on Arcturus Therapeutics from $48.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday, October 22nd. Piper Sandler dropped their target price on shares of Arcturus Therapeutics from $140.00 to $72.00 and set an “overweight” rating for the company in a research report on Tuesday, November 11th. Guggenheim downgraded shares of Arcturus Therapeutics from a “buy” rating to a “neutral” rating in a report on Wednesday, October 22nd. Zacks Research cut shares of Arcturus Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 24th. Finally, Wall Street Zen lowered shares of Arcturus Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Seven analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $36.00.
Get Our Latest Report on Arcturus Therapeutics
Arcturus Therapeutics Stock Performance
The company’s 50-day moving average is $7.55 and its 200-day moving average is $13.33. The firm has a market cap of $174.15 million, a price-to-earnings ratio of -2.49 and a beta of 2.10.
Arcturus Therapeutics (NASDAQ:ARCT – Get Free Report) last posted its quarterly earnings data on Monday, November 10th. The biotechnology company reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($1.09) by $0.60. Arcturus Therapeutics had a negative net margin of 68.35% and a negative return on equity of 28.68%. The firm had revenue of $17.15 million during the quarter, compared to analysts’ expectations of $17.47 million. On average, analysts predict that Arcturus Therapeutics Holdings Inc. will post -2.22 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of ARCT. Arrowstreet Capital Limited Partnership lifted its holdings in Arcturus Therapeutics by 1,371.4% in the third quarter. Arrowstreet Capital Limited Partnership now owns 552,179 shares of the biotechnology company’s stock valued at $10,177,000 after buying an additional 514,652 shares during the period. Millennium Management LLC acquired a new stake in Arcturus Therapeutics during the 1st quarter worth $4,892,000. Bank of America Corp DE raised its position in shares of Arcturus Therapeutics by 112.0% during the 3rd quarter. Bank of America Corp DE now owns 620,055 shares of the biotechnology company’s stock valued at $11,428,000 after acquiring an additional 327,626 shares during the last quarter. Diversify Advisory Services LLC lifted its stake in shares of Arcturus Therapeutics by 1,136.1% in the 2nd quarter. Diversify Advisory Services LLC now owns 222,500 shares of the biotechnology company’s stock valued at $2,895,000 after purchasing an additional 204,500 shares during the period. Finally, ARK Investment Management LLC boosted its position in shares of Arcturus Therapeutics by 9.2% in the 3rd 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 last quarter. 94.54% of the stock is currently owned by institutional investors.
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.