Portolan Capital Management LLC Trims Position in Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT)

Portolan Capital Management LLC cut its holdings in shares of Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT - Free Report) by 73.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 129,144 shares of the biotechnology company's stock after selling 355,763 shares during the period. Portolan Capital Management LLC owned about 0.48% of Arcturus Therapeutics worth $2,997,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Arcturus Therapeutics by 10.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,694 shares of the biotechnology company's stock valued at $202,000 after acquiring an additional 846 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Arcturus Therapeutics by 5.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,004 shares of the biotechnology company's stock worth $575,000 after purchasing an additional 922 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Arcturus Therapeutics by 63.8% during the 1st quarter. Public Employees Retirement System of Ohio now owns 4,620 shares of the biotechnology company's stock worth $156,000 after buying an additional 1,800 shares during the period. nVerses Capital LLC bought a new stake in shares of Arcturus Therapeutics in the 3rd quarter valued at about $42,000. Finally, China Universal Asset Management Co. Ltd. increased its stake 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 valued at $121,000 after buying an additional 2,038 shares during the period. 94.54% of the stock is owned by institutional investors.

Insider Activity

In other news, COO Pad Chivukula sold 12,000 shares of the firm's stock in a transaction that occurred on 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 sale, the chief operating officer now owns 435,334 shares in the company, valued at $9,037,533.84. This trade represents a 2.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 15.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on ARCT shares. Leerink Partners assumed coverage on Arcturus Therapeutics in a report on Monday, August 12th. They issued an "outperform" rating and a $70.00 target price on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Arcturus Therapeutics in a research note on Monday, September 9th. Leerink Partnrs upgraded Arcturus Therapeutics to a "strong-buy" rating in a report on Monday, August 12th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $63.00 price objective on shares of Arcturus Therapeutics in a research report on Friday, November 8th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $71.40.

Arcturus Therapeutics Price Performance

Shares of NASDAQ ARCT traded up $0.63 during mid-day trading on Thursday, reaching $17.85. 376,176 shares of the company's stock traded hands, compared to its average volume of 469,011. Arcturus Therapeutics Holdings Inc. has a 1-year low of $14.93 and a 1-year high of $45.00. The stock has a market cap of $483.56 million, a P/E ratio of -8.04 and a beta of 2.62. The business has a 50-day simple moving average of $19.62 and a 200 day simple moving average of $22.95.

Arcturus Therapeutics (NASDAQ:ARCT - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.70) by $0.44. The firm had revenue of $41.67 million for the quarter, compared to the consensus estimate 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 firm earned ($0.61) EPS. Equities research analysts anticipate that Arcturus Therapeutics Holdings Inc. will post -2.31 earnings per share for the current fiscal year.

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.