Arcturus Therapeutics (NASDAQ:ARCT) Shares Down 8.6% – Time to Sell?

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) shares were down 8.6% during trading on Wednesday . The stock traded as low as $19.03 and last traded at $19.03. Approximately 113,147 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 454,586 shares. The stock had previously closed at $20.83.

Wall Street Analyst Weigh In

ARCT has been the topic of several analyst reports. HC Wainwright reissued a “buy” rating and set a $63.00 price objective on shares of Arcturus Therapeutics in a research note on Tuesday. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcturus Therapeutics in a research report on Monday, December 16th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $66.75.

Arcturus Therapeutics Trading Down 5.1 %

The company has a market capitalization of $487.02 million, a PE ratio of -8.10 and a beta of 2.63. The stock’s 50-day moving average is $17.63 and its two-hundred day moving average is $20.19.

Arcturus Therapeutics (NASDAQ:ARCT) last issued its earnings results on Thursday, November 7th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $41.67 million during the quarter, compared to analyst estimates of $49.16 million. During the same period in the previous year, the firm earned ($0.61) earnings per share. On average, equities research analysts forecast that Arcturus Therapeutics Holdings Inc. will post -2.31 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO Pad Chivukula sold 12,000 shares of the business’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 transaction, the chief operating officer now owns 435,334 shares in the company, valued at $9,037,533.84. The trade was a 2.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 15.30% of the company’s stock.

Institutional Trading of Arcturus Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in ARCT. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Arcturus Therapeutics by 45.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,275,715 shares of the biotechnology company’s stock worth $52,819,000 after purchasing an additional 712,650 shares during the period. Millennium Management LLC lifted its holdings in Arcturus Therapeutics by 250.1% in the 2nd quarter. Millennium Management LLC now owns 555,024 shares of the biotechnology company’s stock valued at $13,515,000 after purchasing an additional 396,505 shares in the last quarter. Empire Life Investments Inc. acquired a new stake in Arcturus Therapeutics during the 3rd quarter worth $3,498,000. ARK Investment Management LLC grew its holdings in shares of Arcturus Therapeutics by 6.9% during the third 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 in the last quarter. Finally, PDT Partners LLC acquired a new position in Arcturus Therapeutics during the third quarter worth about $1,744,000. Hedge funds and other institutional investors own 94.54% of the company’s stock.

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.