Canaccord Genuity Group Issues Pessimistic Forecast for Arcturus Therapeutics (NASDAQ:ARCT) Stock Price

Arcturus Therapeutics (NASDAQ:ARCT) had its target price lowered by investment analysts at Canaccord Genuity Group from $74.00 to $68.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the biotechnology company’s stock. Canaccord Genuity Group’s target price would indicate a potential upside of 377.06% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcturus Therapeutics in a report on Friday. HC Wainwright dropped their target price on shares of Arcturus Therapeutics from $63.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday. BTIG Research set a $48.00 target price on Arcturus Therapeutics and gave the company a “buy” rating in a research report on Monday. Finally, Wells Fargo & Company decreased their price objective on Arcturus Therapeutics from $58.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday. 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 data from MarketBeat, Arcturus Therapeutics presently has an average rating of “Buy” and an average target price of $59.20.

Arcturus Therapeutics Stock Down 2.0 %

ARCT stock traded down $0.30 during trading on Monday, hitting $14.25. 142,366 shares of the company’s stock traded hands, compared to its average volume of 413,118. The firm has a market capitalization of $386.10 million, a P/E ratio of -6.30 and a beta of 2.96. The business has a fifty day simple moving average of $16.95 and a two-hundred day simple moving average of $18.55. Arcturus Therapeutics has a 1 year low of $13.58 and a 1 year high of $45.00.

Arcturus Therapeutics (NASDAQ:ARCT) last posted its earnings results on Thursday, March 6th. The biotechnology company reported ($1.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.78). Arcturus Therapeutics had a negative net margin of 36.39% and a negative return on equity of 22.39%. The company had revenue of $22.77 million during the quarter, compared to analysts’ expectations of $44.64 million. On average, equities research analysts predict that Arcturus Therapeutics will post -2.22 EPS for the current fiscal year.

Institutional Trading of Arcturus Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Virtus ETF Advisers LLC grew its holdings in Arcturus Therapeutics by 38.8% during the 4th quarter. Virtus ETF Advisers LLC now owns 4,051 shares of the biotechnology company’s stock valued at $69,000 after buying an additional 1,132 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Arcturus Therapeutics in the 4th quarter worth $71,000. National Bank of Canada FI raised its stake in Arcturus Therapeutics by 639.6% during the fourth quarter. National Bank of Canada FI now owns 5,532 shares of the biotechnology company’s stock valued at $94,000 after buying an additional 4,784 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Arcturus Therapeutics by 10.8% in 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 period. Finally, Kennedy Capital Management LLC boosted its position in shares of Arcturus Therapeutics by 22.7% during the fourth quarter. Kennedy Capital Management LLC now owns 10,987 shares of the biotechnology company’s stock worth $186,000 after buying an additional 2,036 shares during the period. 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.