Arcturus Therapeutics (NASDAQ:ARCT) Cut to Neutral at Citigroup

Citigroup cut shares of Arcturus Therapeutics (NASDAQ:ARCT) from a buy rating to a neutral rating in a research note released on Thursday, Marketbeat Ratings reports. The firm currently has $12.00 price objective on the biotechnology company’s stock, down from their previous price objective of $49.00.

A number of other analysts have also recently issued reports on ARCT. Leerink Partners cut their price objective on Arcturus Therapeutics from $63.00 to $54.00 and set an “outperform” rating for the company in a research report on Friday, August 22nd. Guggenheim downgraded Arcturus Therapeutics from a “buy” rating to a “neutral” rating in a research report on Wednesday. Wells Fargo & Company cut their target price on Arcturus Therapeutics from $45.00 to $42.00 and set an “overweight” rating for the company in a research report on Tuesday, August 12th. Scotiabank reaffirmed an “outperform” rating on shares of Arcturus Therapeutics in a research report on Wednesday, July 2nd. Finally, HC Wainwright initiated coverage on shares of Arcturus Therapeutics in a report on Thursday, September 4th. They issued a “buy” rating and a $60.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Arcturus Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $31.71.

Arcturus Therapeutics Price Performance

ARCT opened at $11.22 on Thursday. The firm has a 50 day simple moving average of $18.72 and a 200 day simple moving average of $14.80. The company has a market cap of $304.74 million, a price-to-earnings ratio of -5.03 and a beta of 2.39. Arcturus Therapeutics has a fifty-two week low of $8.04 and a fifty-two week high of $24.17.

Arcturus Therapeutics (NASDAQ:ARCT) last released its quarterly earnings data on Monday, August 11th. The biotechnology company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($1.11) by $0.77. Arcturus Therapeutics had a negative net margin of 49.26% and a negative return on equity of 24.87%. The business had revenue of $28.30 million during the quarter, compared to analysts’ expectations of $17.64 million. As a group, analysts expect that Arcturus Therapeutics will post -2.22 EPS for the current year.

Institutional Trading of Arcturus Therapeutics

Several large investors have recently made changes to their positions in ARCT. SG Americas Securities LLC acquired a new stake in shares of Arcturus Therapeutics in the 3rd quarter worth about $147,000. Gateway Investment Advisers LLC bought a new stake in Arcturus Therapeutics during the third quarter worth $737,000. Osaic Holdings Inc. raised its position in Arcturus Therapeutics by 51.8% in the 2nd quarter. Osaic Holdings Inc. now owns 2,163 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 738 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Arcturus Therapeutics by 163.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,169 shares of the biotechnology company’s stock valued at $54,000 after acquiring an additional 2,586 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in Arcturus Therapeutics by 0.7% during the 2nd quarter. Bank of America Corp DE now owns 292,429 shares of the biotechnology company’s stock worth $3,805,000 after acquiring an additional 2,098 shares during the last quarter. 94.54% of the stock is currently owned by institutional investors and hedge funds.

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.