Arcturus Therapeutics (NASDAQ:ARCT) Stock Crosses Below 200 Day Moving Average – What’s Next?

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.22 and traded as low as $7.00. Arcturus Therapeutics shares last traded at $7.02, with a volume of 484,139 shares.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ARCT. Piper Sandler cut their price objective on Arcturus Therapeutics from $140.00 to $72.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 11th. BTIG Research reduced their price target on shares of Arcturus Therapeutics from $48.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, October 22nd. Roth Mkm assumed coverage on shares of Arcturus Therapeutics in a research report on Thursday, January 22nd. They issued a “buy” rating and a $20.00 target price for the company. Wells Fargo & Company dropped their price objective on shares of Arcturus Therapeutics from $42.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, October 23rd. Finally, Guggenheim cut Arcturus Therapeutics from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 22nd. Eight analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Arcturus Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $34.00.

Arcturus Therapeutics Stock Up 7.8%

The company has a market cap of $215.06 million, a P/E ratio of -3.08 and a beta of 2.39. The firm has a 50 day moving average of $6.98 and a 200-day moving average of $12.17.

Arcturus Therapeutics (NASDAQ:ARCT) last posted its earnings results on Monday, November 10th. The biotechnology company reported ($0.49) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.09) by $0.60. Arcturus Therapeutics had a negative return on equity of 28.68% and a negative net margin of 68.35%.The company had revenue of $17.15 million during the quarter, compared to analyst estimates of $17.47 million. On average, research analysts predict that Arcturus Therapeutics Holdings Inc. will post -2.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Arcturus Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in ARCT. AQR Capital Management LLC purchased a new stake in shares of Arcturus Therapeutics during the first quarter worth $128,000. Millennium Management LLC purchased a new stake in Arcturus Therapeutics during the 1st quarter worth about $4,892,000. Goldman Sachs Group Inc. boosted its stake in Arcturus Therapeutics by 9.1% in the first quarter. Goldman Sachs Group Inc. now owns 509,712 shares of the biotechnology company’s stock valued at $5,398,000 after acquiring an additional 42,636 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Arcturus Therapeutics during the 1st quarter worth $701,000. Finally, Strs Ohio acquired a new position in Arcturus Therapeutics in the 1st quarter valued at $89,000. Hedge funds and other institutional investors own 94.54% of the company’s stock.

Arcturus Therapeutics Company Profile

Arcturus Therapeutics Holdings Inc is a clinical-stage biotechnology company dedicated to developing messenger RNA (mRNA) medicines that address a range of diseases. The company leverages its proprietary STARR® mRNA platform to enable precise control over mRNA expression, supported by its lipid nanoparticle delivery technology, LUNAR®. Arcturus’s approach is designed to address both therapeutic and prophylactic applications, with an emphasis on vaccines and treatments for rare genetic and infectious diseases.

The company’s pipeline includes ARCT-810, an mRNA therapeutic candidate for phenylketonuria (PKU), and ARCT-021 (also known as LUNAR-COV19), a COVID-19 vaccine candidate developed in collaboration with Duke-NUS Medical School in Singapore.