Arcturus Therapeutics (NASDAQ:ARCT) Shares Down 6.5%

Shares of Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) dropped 6.5% on Tuesday . The company traded as low as $32.52 and last traded at $32.52. Approximately 130,762 shares traded hands during trading, a decline of 69% from the average daily volume of 427,619 shares. The stock had previously closed at $34.79.

Analyst Upgrades and Downgrades

ARCT has been the topic of a number of recent research reports. William Blair reissued an “outperform” rating on shares of Arcturus Therapeutics in a research report on Friday, March 8th. Citigroup lifted their price objective on Arcturus Therapeutics from $40.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, February 8th. HC Wainwright reaffirmed a “buy” rating and set a $60.00 price objective on shares of Arcturus Therapeutics in a report on Wednesday, March 20th. Canaccord Genuity Group began coverage on Arcturus Therapeutics in a report on Wednesday, December 13th. They set a “buy” rating and a $90.00 price objective on the stock. Finally, Canaccord Genuity Group began coverage on Arcturus Therapeutics in a report on Wednesday, December 13th. They set a “buy” rating on the stock. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $57.71.

Arcturus Therapeutics Stock Performance

The firm’s 50-day moving average is $36.19 and its two-hundred day moving average is $29.39. The stock has a market cap of $909.09 million, a P/E ratio of -32.47 and a beta of 2.64.

Insider Buying and Selling

In other Arcturus Therapeutics news, COO Pad Chivukula sold 17,435 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $35.02, for a total transaction of $610,573.70. Following the completion of the sale, the chief operating officer now owns 473,448 shares in the company, valued at approximately $16,580,148.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 13.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Arcturus Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System bought a new position in Arcturus Therapeutics in the 3rd quarter valued at about $53,000. Great West Life Assurance Co. Can boosted its position in shares of Arcturus Therapeutics by 29.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 2,679 shares of the biotechnology company’s stock worth $64,000 after acquiring an additional 616 shares in the last quarter. AJOVista LLC acquired a new stake in Arcturus Therapeutics in the fourth quarter valued at approximately $65,000. Quest Partners LLC acquired a new stake in Arcturus Therapeutics in the fourth quarter valued at approximately $67,000. Finally, BNP Paribas Arbitrage SA boosted its position in Arcturus Therapeutics by 63.4% in the second quarter. BNP Paribas Arbitrage SA now owns 5,043 shares of the biotechnology company’s stock valued at $79,000 after buying an additional 1,956 shares in the last quarter. 94.54% of the stock is owned by institutional investors and hedge funds.

About Arcturus Therapeutics

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.