HC Wainwright Reaffirms “Buy” Rating for Arcturus Therapeutics (NASDAQ:ARCT)

HC Wainwright reissued their buy rating on shares of Arcturus Therapeutics (NASDAQ:ARCT) in a research report report published on Tuesday morning, Benzinga reports. HC Wainwright currently has a $60.00 target price on the biotechnology company’s stock.

Several other research analysts also recently issued reports on the stock. Canaccord Genuity Group lowered their price target on shares of Arcturus Therapeutics from $87.00 to $86.00 and set a buy rating for the company in a report on Friday, May 10th. William Blair reiterated an outperform rating on shares of Arcturus Therapeutics in a research report on Thursday, May 23rd. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $64.86.

Arcturus Therapeutics Stock Up 2.1 %

Shares of ARCT stock opened at $21.93 on Tuesday. The business has a fifty day simple moving average of $29.81 and a 200 day simple moving average of $32.42. The company has a market cap of $590.57 million, a P/E ratio of -5.61 and a beta of 2.64. Arcturus Therapeutics has a twelve month low of $17.52 and a twelve month high of $45.00.

Arcturus Therapeutics (NASDAQ:ARCT) last posted its earnings results on Wednesday, May 8th. The biotechnology company reported ($1.00) EPS for the quarter, topping analysts’ consensus estimates of ($1.17) by $0.17. The firm had revenue of $38.01 million during the quarter, compared to analysts’ expectations of $22.12 million. Arcturus Therapeutics had a negative net margin of 81.59% and a negative return on equity of 37.61%. As a group, equities research analysts anticipate that Arcturus Therapeutics will post -4.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Pad Chivukula sold 26,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $40.01, for a total transaction of $1,040,260.00. Following the completion of the transaction, the chief operating officer now directly owns 447,448 shares in the company, valued at $17,902,394.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 13.80% of the company’s stock.

Hedge Funds Weigh In On Arcturus Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Boston Partners bought a new position in shares of Arcturus Therapeutics in the 1st quarter worth about $580,000. Teachers Retirement System of The State of Kentucky bought a new stake in Arcturus Therapeutics in the first quarter worth approximately $517,000. Tidal Investments LLC acquired a new position in Arcturus Therapeutics in the first quarter valued at approximately $232,000. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Arcturus Therapeutics by 111.0% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 95,924 shares of the biotechnology company’s stock worth $3,239,000 after buying an additional 50,470 shares in the last quarter. Finally, Caxton Associates LP bought a new position in shares of Arcturus Therapeutics during the 1st quarter worth approximately $202,000. Institutional investors and hedge funds 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.