Morgan Stanley cut its holdings in Arcturus Therapeutics Ltd (NASDAQ:ARCT) by 38.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,190 shares of the biotechnology company’s stock after selling 26,888 shares during the period. Morgan Stanley owned approximately 0.33% of Arcturus Therapeutics worth $408,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Arcturus Therapeutics during the 2nd quarter worth approximately $1,227,000. Highline Capital Management L.P. boosted its stake in shares of Arcturus Therapeutics by 356.6% in the 2nd quarter. Highline Capital Management L.P. now owns 217,866 shares of the biotechnology company’s stock valued at $2,057,000 after purchasing an additional 170,152 shares during the last quarter. ARK Investment Management LLC boosted its stake in shares of Arcturus Therapeutics by 8.3% in the 2nd quarter. ARK Investment Management LLC now owns 1,004,368 shares of the biotechnology company’s stock valued at $9,481,000 after purchasing an additional 77,224 shares during the last quarter. JPMorgan Chase & Co. bought a new stake in shares of Arcturus Therapeutics in the 2nd quarter valued at $128,000. Finally, BlackRock Inc. boosted its stake in shares of Arcturus Therapeutics by 23.5% in the 2nd quarter. BlackRock Inc. now owns 23,548 shares of the biotechnology company’s stock valued at $222,000 after purchasing an additional 4,480 shares during the last quarter. 18.64% of the stock is owned by hedge funds and other institutional investors.
ARCT has been the topic of a number of research reports. Brookline Capital Management reiterated a “buy” rating on shares of Arcturus Therapeutics in a research report on Wednesday, July 24th. HC Wainwright set a $18.00 target price on shares of Arcturus Therapeutics and gave the company a “buy” rating in a research report on Friday, August 16th. Zacks Investment Research upgraded shares of Arcturus Therapeutics from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research report on Tuesday, November 5th. Finally, ValuEngine downgraded shares of Arcturus Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $16.33.
Arcturus Therapeutics (NASDAQ:ARCT) last released its earnings results on Thursday, August 15th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.53) by $0.46. Arcturus Therapeutics had a negative net margin of 63.05% and a negative return on equity of 160.16%. The company had revenue of $10.15 million for the quarter, compared to the consensus estimate of $4.01 million. Equities research analysts expect that Arcturus Therapeutics Ltd will post -1.59 earnings per share for the current year.
In other Arcturus Therapeutics news, CEO Joseph E. Payne acquired 5,000 shares of the stock in a transaction on Thursday, August 29th. The shares were purchased at an average price of $11.22 per share, for a total transaction of $56,100.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter C. Farrell acquired 9,113 shares of the stock in a transaction on Tuesday, August 20th. The shares were acquired at an average price of $10.94 per share, for a total transaction of $99,696.22. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 26,413 shares of company stock worth $289,130. Corporate insiders own 18.10% of the company’s stock.
Arcturus Therapeutics Company Profile
Arcturus Therapeutics Ltd., an RNA medicines company, focuses on treatment of liver and respiratory diseases. The company's pipeline of RNA therapeutics include programs pursuing rare diseases, hepatitis B, non-alcoholic steatohepatitis, cystic fibrosis, and vaccines. The company owns LUNAR lipid-mediated delivery and Unlocked Nucleomonomer Agent (UNA) technology, including UNA Oligomers, which are covered by its patent portfolio, including 152 patents and patent applications issued in the United States, Europe, Japan, China, and internationally.
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