Arcturus Therapeutics (NASDAQ:ARCT) Releases Earnings Results, Misses Estimates By $0.11 EPS

by · The Cerbat Gem

Arcturus Therapeutics (NASDAQ:ARCT – Get Free Report) released its quarterly earnings data on Tuesday. The biotechnology company reported ($1.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.11), FiscalAI reports. The firm had revenue of $7.20 million during the quarter, compared to the consensus estimate of $14.32 million. Arcturus Therapeutics had a negative net margin of 68.35% and a negative return on equity of 28.68%.

Arcturus Therapeutics Stock Down 5.3%

Arcturus Therapeutics stock traded down $0.44 during midday trading on Tuesday, reaching $7.91. 720,860 shares of the stock traded hands, compared to its average volume of 466,517. The stock has a market cap of $224.72 million, a P/E ratio of -3.22 and a beta of 2.40. The stock’s fifty day moving average is $7.24 and its 200-day moving average is $11.46. Arcturus Therapeutics has a 12 month low of $5.85 and a 12 month high of $24.17.

Institutional Investors Weigh In On Arcturus Therapeutics

A number of hedge funds have recently bought and sold shares of the business. ARK Investment Management LLC grew its stake in shares of Arcturus Therapeutics by 39.4% in the 4th quarter. ARK Investment Management LLC now owns 2,611,099 shares of the biotechnology company’s stock worth $16,006,000 after buying an additional 738,378 shares in the last quarter. Vanguard Group Inc. grew its position in Arcturus Therapeutics by 4.2% in the third quarter. Vanguard Group Inc. now owns 1,885,605 shares of the biotechnology company’s stock worth $34,752,000 after acquiring an additional 75,440 shares in the last quarter. Bank of America Corp DE increased its stake in Arcturus Therapeutics by 112.0% during the third quarter. Bank of America Corp DE now owns 620,055 shares of the biotechnology company’s stock worth $11,428,000 after acquiring an additional 327,626 shares during the last quarter. Geode Capital Management LLC raised its position in Arcturus Therapeutics by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 618,134 shares of the biotechnology company’s stock valued at $3,790,000 after purchasing an additional 6,311 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in 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 valued at $10,177,000 after purchasing an additional 514,652 shares during the period. Hedge funds and other institutional investors own 94.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ARCT shares. Wall Street Zen cut Arcturus Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Citigroup dropped their target price on shares of Arcturus Therapeutics from $9.00 to $7.00 and set a “neutral” rating for the company in a research report on Tuesday, January 6th. HC Wainwright reduced their price objective on Arcturus Therapeutics from $12.00 to $9.00 and set a “neutral” rating for the company in a research report on Tuesday, November 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcturus Therapeutics in a research note on Wednesday, January 21st. Finally, Roth Mkm started coverage on shares of Arcturus Therapeutics in a report on Thursday, January 22nd. They set a “buy” rating and a $20.00 price target on the stock. Eight research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $34.00.

Get Our Latest Stock Report on ARCT

Arcturus Therapeutics Company Profile

(Get Free Report)

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.

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