Arcturus Therapeutics Ltd (NASDAQ:ARCT) was the target of a large drop in short interest in the month of June. As of June 30th, there was short interest totalling 89,700 shares, a drop of 11.5% from the May 30th total of 101,300 shares. Currently, 1.5% of the shares of the stock are sold short. Based on an average daily volume of 52,000 shares, the days-to-cover ratio is presently 1.7 days.
Several institutional investors and hedge funds have recently modified their holdings of the company. Creative Planning bought a new position in shares of Arcturus Therapeutics during the 1st quarter worth about $416,000. Nikko Asset Management Americas Inc. bought a new position in shares of Arcturus Therapeutics during the 1st quarter worth about $438,000. Finally, ARK Investment Management LLC lifted its holdings in shares of Arcturus Therapeutics by 13.7% during the 1st quarter. ARK Investment Management LLC now owns 927,144 shares of the biotechnology company’s stock worth $6,332,000 after acquiring an additional 111,968 shares during the period. Hedge funds and other institutional investors own 11.15% of the company’s stock.
Shares of ARCT opened at $8.99 on Friday. The company has a market cap of $121.09 million, a P/E ratio of -4.16 and a beta of 2.30. The company has a current ratio of 2.51, a quick ratio of 2.51 and a debt-to-equity ratio of 2.43. The firm’s 50-day simple moving average is $7.86. Arcturus Therapeutics has a 12-month low of $4.11 and a 12-month high of $10.29.
Arcturus Therapeutics (NASDAQ:ARCT) last issued its quarterly earnings results on Monday, May 13th. The biotechnology company reported ($0.68) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.53) by ($0.15). The business had revenue of $4.35 million for the quarter, compared to the consensus estimate of $3.47 million. Arcturus Therapeutics had a negative net margin of 124.59% and a negative return on equity of 132.46%. On average, equities research analysts expect that Arcturus Therapeutics will post -2.32 EPS for the current year.
Several research analysts have commented on ARCT shares. ValuEngine upgraded United Overseas Bank from a “sell” rating to a “hold” rating in a research note on Monday, June 17th. Chardan Capital set a $18.00 target price on Arcturus Therapeutics and gave the stock a “buy” rating in a research note on Thursday, June 20th. Zacks Investment Research upgraded FirstService from a “strong sell” rating to a “hold” rating and set a $110.00 target price for the company in a research note on Tuesday, June 25th. Finally, HC Wainwright set a $2.00 price target on POET Technologies and gave the company a “buy” rating in a research report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $13.83.
About Arcturus Therapeutics
Arcturus Therapeutics Ltd., an RNA medicines company, focuses on treatment of liver and respiratory diseases. The company's pipeline of RNA therapeutics include programs pursuing rare diseases, hepatitis B, non-alcoholic steatohepatitis, cystic fibrosis, and vaccines. The company owns LUNAR lipid-mediated delivery and Unlocked Nucleomonomer Agent (UNA) technology, including UNA Oligomers, which are covered by its patent portfolio, including 152 patents and patent applications issued in the United States, Europe, Japan, China, and internationally.
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