Royce & Associates LP Grows Holdings in Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT)

Royce & Associates LP grew its position in Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) by 18.3% in the third quarter, HoldingsChannel reports. The fund owned 155,803 shares of the biotechnology company’s stock after acquiring an additional 24,085 shares during the quarter. Royce & Associates LP’s holdings in Arcturus Therapeutics were worth $3,616,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Arcturus Therapeutics by 22.4% in the 2nd 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. Empire Life Investments Inc. acquired a new position in shares of Arcturus Therapeutics during the 3rd quarter worth approximately $3,498,000. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of 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 buying an additional 712,650 shares in the last quarter. XTX Topco Ltd acquired a new stake in Arcturus Therapeutics in the 2nd quarter valued at $596,000. Finally, Squarepoint Ops LLC purchased a new stake in Arcturus Therapeutics in the 2nd quarter worth $718,000. 94.54% of the stock is owned by hedge funds and other institutional investors.

Arcturus Therapeutics Stock Up 1.6 %

Shares of NASDAQ:ARCT opened at $16.27 on Tuesday. Arcturus Therapeutics Holdings Inc. has a 52-week low of $14.93 and a 52-week high of $45.00. The business has a fifty day moving average of $20.54 and a two-hundred day moving average of $23.93. The stock has a market cap of $440.75 million, a P/E ratio of -7.79 and a beta of 2.64.

Arcturus Therapeutics (NASDAQ:ARCT) last announced its quarterly earnings results 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. Arcturus Therapeutics had a negative net margin of 36.39% and a negative return on equity of 22.39%. The business had revenue of $41.67 million during the quarter, compared to the consensus estimate of $49.16 million. During the same quarter last year, the firm earned ($0.61) EPS. On average, equities analysts anticipate that Arcturus Therapeutics Holdings Inc. will post -2.31 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Pad Chivukula sold 12,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $20.76, for a total transaction of $249,120.00. Following the completion of the transaction, the chief operating officer now directly owns 435,334 shares in the company, valued at $9,037,533.84. This trade represents a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 15.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ARCT. HC Wainwright reaffirmed a “buy” rating and set a $63.00 price objective on shares of Arcturus Therapeutics in a report on Friday, November 8th. Leerink Partnrs upgraded Arcturus Therapeutics to a “strong-buy” rating in a report on Monday, August 12th. 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 objective for the company. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Arcturus Therapeutics in a research report on Monday, September 9th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Arcturus Therapeutics currently has a consensus rating of “Buy” and an average price target of $71.40.

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.