Canaccord Genuity Group Lowers Arcturus Therapeutics (NASDAQ:ARCT) Price Target to $68.00

Arcturus Therapeutics (NASDAQ:ARCT - Get Free Report) had its target price lowered by Canaccord Genuity Group from $74.00 to $68.00 in a research note issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the biotechnology company's stock. Canaccord Genuity Group's target price suggests a potential upside of 389.21% from the company's previous close.

Several other research analysts have also recently issued reports on ARCT. Cantor Fitzgerald restated an "overweight" rating on shares of Arcturus Therapeutics in a report on Friday, March 7th. HC Wainwright lowered their price target on Arcturus Therapeutics from $63.00 to $60.00 and set a "buy" rating for the company in a research report on Friday, March 7th. Wells Fargo & Company decreased their target price on Arcturus Therapeutics from $58.00 to $50.00 and set an "overweight" rating for the company in a report on Friday, March 7th. Finally, BTIG Research set a $48.00 target price on shares of Arcturus Therapeutics and gave the company a "buy" rating in a research note on Monday. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Arcturus Therapeutics has a consensus rating of "Buy" and a consensus target price of $59.20.

Arcturus Therapeutics Stock Down 2.5 %

Shares of ARCT stock traded down $0.36 during trading on Monday, hitting $13.90. The company had a trading volume of 317,899 shares, compared to its average volume of 426,387. The stock has a market capitalization of $376.97 million, a price-to-earnings ratio of -6.26 and a beta of 2.96. Arcturus Therapeutics has a 52 week low of $12.75 and a 52 week high of $45.00. The stock's 50-day moving average is $16.78 and its two-hundred day moving average is $18.41.

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Arcturus Therapeutics (NASDAQ:ARCT - Get Free Report) last announced its quarterly earnings data on Thursday, March 6th. The biotechnology company reported ($1.11) earnings per share for the quarter, missing analysts' consensus estimates of ($0.33) by ($0.78). Arcturus Therapeutics had a negative return on equity of 22.39% and a negative net margin of 36.39%. The business had revenue of $22.77 million during the quarter, compared to the consensus estimate of $44.64 million. On average, research analysts predict that Arcturus Therapeutics will post -2.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ARCT. Sumitomo Mitsui Trust Group Inc. lifted its position in Arcturus Therapeutics by 45.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,275,715 shares of the biotechnology company's stock valued at $52,819,000 after purchasing an additional 712,650 shares in the last quarter. Vanguard Group Inc. increased its holdings in Arcturus Therapeutics by 6.8% in the 4th quarter. Vanguard Group Inc. now owns 1,684,561 shares of the biotechnology company's stock worth $28,587,000 after acquiring an additional 107,635 shares in the last quarter. Schonfeld Strategic Advisors LLC raised its stake in Arcturus Therapeutics by 129.7% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 849,081 shares of the biotechnology company's stock worth $14,409,000 after acquiring an additional 479,482 shares during the period. Woodline Partners LP boosted its position in shares of Arcturus Therapeutics by 3.5% in the fourth quarter. Woodline Partners LP now owns 806,912 shares of the biotechnology company's stock worth $13,693,000 after purchasing an additional 26,956 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Arcturus Therapeutics by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 554,984 shares of the biotechnology company's stock worth $9,421,000 after purchasing an additional 3,186 shares in the last quarter. Institutional investors own 94.54% of the company's stock.

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.