Empire Life Investments Inc. Purchases New Position in Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT)

Empire Life Investments Inc. purchased a new position in shares of Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 150,692 shares of the biotechnology company's stock, valued at approximately $3,498,000. Empire Life Investments Inc. owned approximately 0.56% of Arcturus Therapeutics as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Nordea Investment Management AB acquired a new position in Arcturus Therapeutics during the 1st quarter worth approximately $1,846,000. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Arcturus Therapeutics by 22.4% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,563,065 shares of the biotechnology company's stock worth $38,061,000 after purchasing an additional 286,546 shares during the period. XTX Topco Ltd acquired a new stake in Arcturus Therapeutics in the 2nd quarter valued at $596,000. Squarepoint Ops LLC bought a new stake in Arcturus Therapeutics during the 2nd quarter valued at $718,000. Finally, Tidal Investments LLC bought a new stake in Arcturus Therapeutics during the 1st quarter valued at $232,000. Institutional investors and hedge funds own 94.54% of the company's stock.

Arcturus Therapeutics Stock Performance

NASDAQ:ARCT traded up $0.27 on Friday, hitting $18.00. The stock had a trading volume of 317,940 shares, compared to its average volume of 279,800. Arcturus Therapeutics Holdings Inc. has a 1 year low of $17.50 and a 1 year high of $45.00. The firm's fifty day simple moving average is $20.86 and its two-hundred day simple moving average is $24.50. The stock has a market cap of $484.74 million, a P/E ratio of -7.00 and a beta of 2.64.

Arcturus Therapeutics (NASDAQ:ARCT - Get Free Report) last issued its quarterly earnings results on Monday, August 5th. The biotechnology company reported ($0.64) EPS for the quarter, beating analysts' consensus estimates of ($1.85) by $1.21. Arcturus Therapeutics had a negative return on equity of 25.47% and a negative net margin of 41.21%. The company had revenue of $49.86 million during the quarter, compared to the consensus estimate of $21.00 million. During the same period last year, the business posted ($1.98) earnings per share. Equities research analysts predict that Arcturus Therapeutics Holdings Inc. will post -2.6 EPS for the current year.

Insider Activity

In other Arcturus Therapeutics news, COO Pad Chivukula sold 12,000 shares of Arcturus Therapeutics stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $20.76, for a total value of $249,120.00. Following the sale, the chief operating officer now owns 435,334 shares of the company's stock, valued at approximately $9,037,533.84. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 15.30% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ARCT shares. Cantor Fitzgerald reiterated an "overweight" rating on shares of Arcturus Therapeutics in a report on Monday, September 9th. Leerink Partners began coverage on Arcturus Therapeutics in a research note on Monday, August 12th. They set an "outperform" rating and a $70.00 price target for the company. HC Wainwright reissued a "buy" rating and set a $63.00 price objective on shares of Arcturus Therapeutics in a report on Tuesday, October 1st. Finally, Leerink Partnrs upgraded Arcturus Therapeutics to a "strong-buy" rating in a report on Monday, August 12th. 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, the stock currently has a consensus rating of "Buy" and an average target price of $71.40.

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.