Sumitomo Mitsui Trust Group Inc. Buys 712,650 Shares of Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT)

Sumitomo Mitsui Trust Group Inc. increased its stake in Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT - Free Report) by 45.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,275,715 shares of the biotechnology company's stock after purchasing an additional 712,650 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 8.45% of Arcturus Therapeutics worth $52,819,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Russell Investments Group Ltd. bought a new position in shares of Arcturus Therapeutics in the first quarter valued at approximately $40,000. nVerses Capital LLC bought a new position in Arcturus Therapeutics in the 3rd quarter valued at $42,000. Quest Partners LLC grew its position in shares of Arcturus Therapeutics by 3,283.5% during the 2nd quarter. Quest Partners LLC now owns 3,688 shares of the biotechnology company's stock valued at $90,000 after purchasing an additional 3,579 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in shares of Arcturus Therapeutics by 64.4% in the third quarter. China Universal Asset Management Co. Ltd. now owns 5,201 shares of the biotechnology company's stock worth $121,000 after purchasing an additional 2,038 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Arcturus Therapeutics in the second quarter worth $142,000. 94.54% of the stock is currently owned by institutional investors.

Arcturus Therapeutics Stock Performance

NASDAQ:ARCT traded down $2.32 during trading hours on Friday, reaching $16.02. The company's stock had a trading volume of 1,208,668 shares, compared to its average volume of 470,449. The firm has a market capitalization of $433.98 million, a price-to-earnings ratio of -7.22 and a beta of 2.64. The firm has a 50-day simple moving average of $20.54 and a 200-day simple moving average of $23.97. Arcturus Therapeutics Holdings Inc. has a 1 year low of $14.93 and a 1 year high of $45.00.

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

Wall Street Analyst Weigh In

Several analysts have weighed in on ARCT shares. Cantor Fitzgerald reiterated an "overweight" rating on shares of Arcturus Therapeutics in a research report on Monday, September 9th. Leerink Partnrs raised shares of Arcturus Therapeutics to a "strong-buy" rating in a research note on Monday, August 12th. Leerink Partners initiated coverage on shares of Arcturus Therapeutics in a research report on Monday, August 12th. They set an "outperform" rating and a $70.00 price objective on the stock. Finally, HC Wainwright reiterated a "buy" rating and issued a $63.00 target price on shares of Arcturus Therapeutics in a research report on Friday, November 8th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $71.40.

Insider Transactions at Arcturus Therapeutics

In other Arcturus Therapeutics news, COO Pad Chivukula sold 12,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $20.76, for a total value of $249,120.00. Following the completion of the sale, the chief operating officer now owns 435,334 shares in the company, valued at approximately $9,037,533.84. This trade represents a 2.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 15.30% of the company's stock.

Arcturus Therapeutics Company Profile

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.