Hennion & Walsh Asset Management Inc. Acquires 161,910 Shares of Arcturus Therapeutics Holdings Inc. $ARCT

Hennion & Walsh Asset Management Inc. raised its holdings in Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) by 206.5% in the fourth quarter, Holdings Channel reports. The fund owned 240,303 shares of the biotechnology company’s stock after acquiring an additional 161,910 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Arcturus Therapeutics were worth $1,473,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Arrowstreet Capital Limited Partnership raised its position in shares of Arcturus Therapeutics by 1,371.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 552,179 shares of the biotechnology company’s stock worth $10,177,000 after purchasing an additional 514,652 shares during the period. Millennium Management LLC bought a new position in shares of Arcturus Therapeutics during the 1st quarter valued at about $4,892,000. Bank of America Corp DE grew its position in shares of Arcturus Therapeutics by 112.0% in the 3rd quarter. Bank of America Corp DE now owns 620,055 shares of the biotechnology company’s stock valued at $11,428,000 after purchasing an additional 327,626 shares during the period. Diversify Advisory Services LLC grew its position in shares of Arcturus Therapeutics by 1,136.1% in the 2nd quarter. Diversify Advisory Services LLC now owns 222,500 shares of the biotechnology company’s stock valued at $2,895,000 after purchasing an additional 204,500 shares during the period. Finally, ARK Investment Management LLC increased its stake in Arcturus Therapeutics by 9.2% during the 3rd quarter. ARK Investment Management LLC now owns 1,872,721 shares of the biotechnology company’s stock worth $34,514,000 after purchasing an additional 157,681 shares in the last quarter. 94.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on ARCT shares. Wall Street Zen downgraded shares of Arcturus Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. B. Riley Financial initiated coverage on shares of Arcturus Therapeutics in a research report on Wednesday, March 18th. They set a “buy” rating and a $22.00 price objective for the company. Piper Sandler dropped their price objective on shares of Arcturus Therapeutics from $72.00 to $25.00 and set an “overweight” rating on the stock in a report on Wednesday, March 4th. Roth Mkm initiated coverage on shares of Arcturus Therapeutics in a research report on Thursday, January 22nd. They issued a “buy” rating and a $20.00 price objective on the stock. Finally, Citigroup reduced their target price on shares of Arcturus Therapeutics from $66.00 to $21.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Arcturus Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.50.

Arcturus Therapeutics Stock Performance

Shares of Arcturus Therapeutics stock opened at $7.85 on Thursday. The firm has a market cap of $223.10 million, a PE ratio of -3.30 and a beta of 2.44. The business’s 50 day simple moving average is $7.37 and its 200 day simple moving average is $9.89. Arcturus Therapeutics Holdings Inc. has a 52-week low of $5.85 and a 52-week high of $24.17.

Arcturus Therapeutics (NASDAQ:ARCT) last released its quarterly earnings results on Tuesday, March 3rd. The biotechnology company reported ($1.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.11). The firm had revenue of $7.20 million for the quarter, compared to analyst estimates of $14.32 million. Arcturus Therapeutics had a negative return on equity of 29.13% and a negative net margin of 80.19%. As a group, equities research analysts predict that Arcturus Therapeutics Holdings Inc. will post -2.22 EPS for the current year.

Arcturus Therapeutics 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.