Arcturus Therapeutics (NASDAQ:ARCT) Shares Pass Below 200-Day Moving Average – Here’s What Happened

Shares of Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.47 and traded as low as $6.80. Arcturus Therapeutics shares last traded at $6.82, with a volume of 336,731 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Citigroup cut their price objective on Arcturus Therapeutics from $66.00 to $21.00 and set a “buy” rating for the company in a report on Thursday, March 5th. Piper Sandler lowered their target price on Arcturus Therapeutics from $72.00 to $25.00 and set an “overweight” rating on the stock in a report on Wednesday, March 4th. Weiss Ratings upgraded shares of Arcturus Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, April 21st. Finally, B. Riley Financial began coverage on shares of Arcturus Therapeutics in a report on Wednesday, March 18th. They issued a “buy” rating and a $22.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $25.44.

Arcturus Therapeutics Trading Down 2.7%

The stock has a fifty day moving average of $7.82 and a 200-day moving average of $7.47. The firm has a market capitalization of $193.82 million, a price-to-earnings ratio of -2.43 and a beta of 2.36.

Arcturus Therapeutics (NASDAQ:ARCT) last announced its earnings results on Friday, May 8th. The biotechnology company reported ($0.95) EPS for the quarter, beating the consensus estimate of ($1.03) by $0.08. Arcturus Therapeutics had a negative return on equity of 36.55% and a negative net margin of 143.80%.The business had revenue of $2.06 million during the quarter, compared to the consensus estimate of $6.30 million. As a group, equities research analysts forecast that Arcturus Therapeutics Holdings Inc. will post -3.99 earnings per share for the current fiscal year.

Institutional Trading of Arcturus Therapeutics

A number of hedge funds have recently bought and sold shares of ARCT. ARK Investment Management LLC boosted its holdings in shares of Arcturus Therapeutics by 39.4% in the fourth quarter. ARK Investment Management LLC now owns 2,611,099 shares of the biotechnology company’s stock worth $16,006,000 after buying an additional 738,378 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of Arcturus Therapeutics by 1,371.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 552,179 shares of the biotechnology company’s stock valued at $10,177,000 after acquiring an additional 514,652 shares in the last quarter. Millennium Management LLC acquired a new position in Arcturus Therapeutics in the 1st quarter worth approximately $4,892,000. Bank of America Corp DE boosted its stake in Arcturus Therapeutics by 112.0% in the 3rd quarter. Bank of America Corp DE now owns 620,055 shares of the biotechnology company’s stock worth $11,428,000 after purchasing an additional 327,626 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in Arcturus Therapeutics by 12.9% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,288,935 shares of the biotechnology company’s stock worth $17,671,000 after purchasing an additional 262,347 shares during the period. 94.54% of the stock is owned by hedge funds and other institutional investors.

Arcturus Therapeutics Company Profile

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.