Wall Street Zen Upgrades Arcturus Therapeutics (NASDAQ:ARCT) to “Sell”

Arcturus Therapeutics (NASDAQ:ARCT) was upgraded by research analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a report issued on Saturday.

Separately, Weiss Ratings upgraded shares of Arcturus Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.25.

Arcturus Therapeutics Trading Down 2.1%

NASDAQ:ARCT opened at $6.05 on Friday. Arcturus Therapeutics has a 12 month low of $5.85 and a 12 month high of $24.17. The business’s 50-day moving average is $7.22 and its 200 day moving average is $7.47. The company has a market capitalization of $171.94 million, a P/E ratio of -2.15 and a beta of 2.37.

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

Hedge Funds Weigh In On Arcturus Therapeutics

Several large investors have recently modified their holdings of the stock. Hennion & Walsh Asset Management Inc. raised its holdings in Arcturus Therapeutics by 206.5% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 240,303 shares of the biotechnology company’s stock valued at $1,473,000 after buying an additional 161,910 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its position in Arcturus Therapeutics by 12.9% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,288,935 shares of the biotechnology company’s stock valued at $17,671,000 after acquiring an additional 262,347 shares during the last quarter. Castleview Partners LLC bought a new position in Arcturus Therapeutics during the first quarter valued at $130,000. Diversify Wealth Management LLC purchased a new stake in shares of Arcturus Therapeutics in the first quarter valued at $133,000. Finally, Byrne Asset Management LLC raised its stake in shares of Arcturus Therapeutics by 4,412.5% in the fourth quarter. Byrne Asset Management LLC now owns 18,050 shares of the biotechnology company’s stock valued at $111,000 after acquiring an additional 17,650 shares during the period. Institutional investors own 94.54% of the company’s stock.

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.