Cantor Fitzgerald Reaffirms "Overweight" Rating for Arcturus Therapeutics (NASDAQ:ARCT)

Arcturus Therapeutics (NASDAQ:ARCT - Get Free Report)'s stock had its "overweight" rating reaffirmed by investment analysts at Cantor Fitzgerald in a note issued to investors on Monday,Benzinga reports.

Separately, HC Wainwright reiterated a "buy" rating and set a $63.00 target price on shares of Arcturus Therapeutics in a research note on Friday, November 8th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $66.75.

Arcturus Therapeutics Stock Performance

Arcturus Therapeutics stock traded down $0.97 during trading hours on Monday, reaching $16.24. 392,369 shares of the stock were exchanged, compared to its average volume of 465,743. Arcturus Therapeutics has a 52-week low of $14.93 and a 52-week high of $45.00. The stock has a market cap of $439.89 million, a P/E ratio of -7.29 and a beta of 2.62. The firm's 50 day moving average is $18.91 and its 200 day moving average is $22.21.

Arcturus Therapeutics (NASDAQ:ARCT - Get Free Report) last released its earnings results on Thursday, November 7th. The biotechnology company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.70) by $0.44. The firm had revenue of $41.67 million during the quarter, compared to analysts' expectations of $49.16 million. Arcturus Therapeutics had a negative net margin of 36.39% and a negative return on equity of 22.39%. During the same period in the previous year, the company earned ($0.61) EPS. Equities research analysts expect that Arcturus Therapeutics will post -2.31 EPS for the current fiscal year.

Insider Activity

In other news, COO Pad Chivukula sold 12,000 shares of the company's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $20.76, for a total transaction of $249,120.00. Following the completion of the transaction, the chief operating officer now owns 435,334 shares of the company's stock, valued at approximately $9,037,533.84. This represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 15.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arcturus Therapeutics

A number of institutional investors have recently added to or reduced their stakes in ARCT. Franklin Resources Inc. lifted its holdings in Arcturus Therapeutics by 54.6% during the 3rd quarter. Franklin Resources Inc. now owns 103,936 shares of the biotechnology company's stock worth $2,412,000 after buying an additional 36,714 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Arcturus Therapeutics by 1.1% during the third quarter. Geode Capital Management LLC now owns 551,798 shares of the biotechnology company's stock worth $12,810,000 after purchasing an additional 5,789 shares during the period. XTX Topco Ltd boosted its holdings in shares of Arcturus Therapeutics by 51.1% in the third quarter. XTX Topco Ltd now owns 36,990 shares of the biotechnology company's stock valued at $859,000 after buying an additional 12,509 shares during the period. PDT Partners LLC bought a new position in Arcturus Therapeutics during the 3rd quarter worth about $1,744,000. Finally, Verition Fund Management LLC acquired a new stake in Arcturus Therapeutics in the 3rd quarter valued at approximately $420,000. 94.54% of the stock is owned by institutional investors and hedge funds.

About Arcturus Therapeutics

Arcturus Therapeutics Holdings Inc, a late-stage clinical messenger RNA medicines and vaccine company, focuses on the development of infectious disease vaccines and other products within liver and respiratory rare diseases. Its technology platforms include LUNAR lipid-mediated delivery and STARR mRNA.