Empire Life Investments Inc. Purchases 128,771 Shares of Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT)

Empire Life Investments Inc. grew its holdings in shares of Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT - Free Report) by 85.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 279,463 shares of the biotechnology company's stock after purchasing an additional 128,771 shares during the period. Empire Life Investments Inc. owned approximately 1.03% of Arcturus Therapeutics worth $4,742,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ARCT. Sumitomo Mitsui Trust Group Inc. lifted its position in Arcturus Therapeutics by 45.6% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,275,715 shares of the biotechnology company's stock worth $52,819,000 after purchasing an additional 712,650 shares during the period. ARK Investment Management LLC lifted its holdings in shares of Arcturus Therapeutics by 6.9% in the third quarter. ARK Investment Management LLC now owns 2,101,038 shares of the biotechnology company's stock valued at $48,765,000 after buying an additional 136,074 shares during the period. PDT Partners LLC bought a new position in Arcturus Therapeutics during the third quarter valued at about $1,744,000. Hennion & Walsh Asset Management Inc. grew its holdings in Arcturus Therapeutics by 139.7% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 82,057 shares of the biotechnology company's stock worth $1,393,000 after acquiring an additional 47,824 shares during the period. Finally, Franklin Resources Inc. raised its position in Arcturus Therapeutics by 54.6% in the third quarter. Franklin Resources Inc. now owns 103,936 shares of the biotechnology company's stock worth $2,412,000 after acquiring an additional 36,714 shares in the last quarter. 94.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on ARCT. Cantor Fitzgerald restated an "overweight" rating on shares of Arcturus Therapeutics in a research report on Monday, December 16th. BTIG Research assumed coverage on Arcturus Therapeutics in a research report on Tuesday, January 28th. They issued a "buy" rating and a $41.00 price target for the company. Finally, HC Wainwright restated a "buy" rating and set a $63.00 price objective on shares of Arcturus Therapeutics in a report on Friday, February 14th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Arcturus Therapeutics currently has a consensus rating of "Buy" and an average target price of $65.00.

Arcturus Therapeutics Stock Performance

NASDAQ:ARCT traded down $0.39 during trading hours on Wednesday, hitting $17.32. 481,393 shares of the company's stock traded hands, compared to its average volume of 423,784. Arcturus Therapeutics Holdings Inc. has a twelve month low of $14.30 and a twelve month high of $45.00. The firm has a market cap of $469.20 million, a P/E ratio of -7.80 and a beta of 2.62. The stock's fifty day moving average price is $16.97 and its two-hundred day moving average price is $18.86.

Arcturus Therapeutics 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.