Arcturus Therapeutics (NASDAQ:ARCT) Share Price Crosses Below 200 Day Moving Average – Here’s Why

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) shares passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $7.45 and traded as low as $7.16. Arcturus Therapeutics shares last traded at $7.36, with a volume of 378,896 shares.

Analyst Ratings Changes

A number of brokerages have recently commented on ARCT. Citigroup lowered their target price on Arcturus Therapeutics from $66.00 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, March 5th. B. Riley Financial began coverage on Arcturus Therapeutics in a research note on Wednesday, March 18th. They issued a “buy” rating and a $22.00 target price on the stock. Weiss Ratings upgraded Arcturus Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, April 21st. Finally, 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 research note on Wednesday, March 4th. 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 issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $25.44.

Arcturus Therapeutics Trading Up 3.1%

The company has a market cap of $209.17 million, a price-to-earnings ratio of -2.62 and a beta of 2.36. The business has a fifty day moving average of $7.97 and a two-hundred day moving average of $7.45.

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

Hedge Funds Weigh In On Arcturus Therapeutics

A number of large investors have recently bought and sold shares of ARCT. AQR Capital Management LLC acquired a new position in shares of Arcturus Therapeutics during the first quarter valued at approximately $128,000. Millennium Management LLC acquired a new position in shares of Arcturus Therapeutics during the first quarter valued at approximately $4,892,000. Goldman Sachs Group Inc. raised its holdings in shares of Arcturus Therapeutics by 9.1% during the first quarter. Goldman Sachs Group Inc. now owns 509,712 shares of the biotechnology company’s stock valued at $5,398,000 after acquiring an additional 42,636 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Arcturus Therapeutics during the first quarter valued at approximately $701,000. Finally, Strs Ohio acquired a new position in shares of Arcturus Therapeutics during the first quarter valued at approximately $89,000. Institutional investors and hedge funds own 94.54% of the company’s stock.

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.