Arcturus Therapeutics (NASDAQ:ARCT) Share Price Crosses Below 50-Day Moving Average – Time to Sell?

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $7.56 and traded as low as $7.30. Arcturus Therapeutics shares last traded at $7.60, with a volume of 408,000 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. B. Riley Financial started coverage on Arcturus Therapeutics in a report on Wednesday, March 18th. They issued a “buy” rating and a $22.00 price target for the company. Weiss Ratings raised shares of Arcturus Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.25.

Arcturus Therapeutics Stock Up 3.4%

The firm has a fifty day simple moving average of $7.56 and a 200-day simple moving average of $7.46. The company has a market cap of $215.99 million, a PE ratio of -2.70 and a beta of 2.37.

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

Hedge Funds Weigh In On Arcturus Therapeutics

A number of institutional investors have recently modified their holdings of ARCT. ADAR1 Capital Management LLC acquired a new stake in Arcturus Therapeutics during the 1st quarter worth $116,000. Quantinno Capital Management LP increased its stake in Arcturus Therapeutics by 36.9% in the first quarter. Quantinno Capital Management LP now owns 71,353 shares of the biotechnology company’s stock valued at $551,000 after purchasing an additional 19,230 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Arcturus Therapeutics by 48.7% in the first quarter. Renaissance Technologies LLC now owns 178,300 shares of the biotechnology company’s stock valued at $1,376,000 after buying an additional 58,395 shares during the last quarter. Amova Asset Management Americas Inc. raised its holdings in shares of Arcturus Therapeutics by 12.9% in the first quarter. Amova Asset Management Americas Inc. now owns 2,288,935 shares of the biotechnology company’s stock valued at $17,648,000 after buying an additional 262,347 shares during the last quarter. Finally, Heartland Advisors Inc. acquired a new stake in shares of Arcturus Therapeutics during the first quarter worth about $1,976,000. 94.54% of the stock is owned by institutional investors and hedge funds.

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.