Wells Fargo & Company Lowers Arcturus Therapeutics (NASDAQ:ARCT) Price Target to $50.00

Arcturus Therapeutics (NASDAQ:ARCT - Get Free Report) had its price target dropped by stock analysts at Wells Fargo & Company from $58.00 to $50.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the biotechnology company's stock. Wells Fargo & Company's price objective indicates a potential upside of 243.64% from the stock's previous close.

Several other research analysts have also recently issued reports on the stock. Cantor Fitzgerald restated an "overweight" rating on shares of Arcturus Therapeutics in a report on Monday, December 16th. HC Wainwright restated a "buy" rating and issued a $63.00 target price on shares of Arcturus Therapeutics in a report on Friday, February 14th. Finally, BTIG Research assumed coverage on shares of Arcturus Therapeutics in a report on Tuesday, January 28th. They issued a "buy" rating and a $41.00 target price on the stock. 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 MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $61.40.

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Arcturus Therapeutics Trading Down 8.9 %

Shares of ARCT traded down $1.42 during mid-day trading on Friday, reaching $14.55. 749,515 shares of the stock traded hands, compared to its average volume of 420,425. The firm has a fifty day moving average price of $16.95 and a 200 day moving average price of $18.57. The company has a market cap of $394.12 million, a price-to-earnings ratio of -6.55 and a beta of 2.96. Arcturus Therapeutics has a 1 year low of $14.11 and a 1 year high of $45.00.

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

Institutional Investors Weigh In On Arcturus Therapeutics

A number of large investors have recently made changes to their positions in ARCT. ARK Investment Management LLC grew its position in shares of Arcturus Therapeutics by 6.9% in the 3rd quarter. ARK Investment Management LLC now owns 2,101,038 shares of the biotechnology company's stock worth $48,765,000 after buying an additional 136,074 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in Arcturus Therapeutics during the 3rd quarter valued at approximately $544,000. Sumitomo Mitsui Trust Group Inc. boosted its position in Arcturus Therapeutics by 45.6% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,275,715 shares of the biotechnology company's stock valued at $52,819,000 after acquiring an additional 712,650 shares in the last quarter. Royce & Associates LP boosted its position in Arcturus Therapeutics by 18.3% during the 3rd quarter. Royce & Associates LP now owns 155,803 shares of the biotechnology company's stock valued at $3,616,000 after acquiring an additional 24,085 shares in the last quarter. Finally, Quest Partners LLC boosted its position in Arcturus Therapeutics by 437.1% during the 3rd quarter. Quest Partners LLC now owns 19,810 shares of the biotechnology company's stock valued at $460,000 after acquiring an additional 16,122 shares in the last quarter. 94.54% of the stock is currently owned by institutional investors.

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.