Arcturus Therapeutics (NASDAQ:ARCT) Shares Down 5.8% Following Insider Selling

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT)’s stock price fell 5.8% on Thursday following insider selling activity. The company traded as low as $19.44 and last traded at $19.44. 54,219 shares changed hands during trading, a decline of 89% from the average session volume of 476,887 shares. The stock had previously closed at $20.63.

Specifically, COO Pad Chivukula sold 12,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $20.76, for a total value of $249,120.00. Following the transaction, the chief operating officer now directly owns 435,334 shares in the company, valued at approximately $9,037,533.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ARCT shares. Leerink Partnrs upgraded Arcturus Therapeutics to a “strong-buy” rating in a report on Monday, August 12th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcturus Therapeutics in a research note on Monday, September 9th. HC Wainwright reissued a “buy” rating and set a $63.00 price target on shares of Arcturus Therapeutics in a research note on Tuesday, October 1st. Finally, Leerink Partners began coverage on shares of Arcturus Therapeutics in a research note on Monday, August 12th. They issued an “outperform” rating and a $70.00 price objective on the stock. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $71.40.

Arcturus Therapeutics Stock Performance

The business’s 50-day moving average is $21.06 and its two-hundred day moving average is $25.53. The firm has a market capitalization of $533.52 million, a price-to-earnings ratio of -5.28 and a beta of 2.61.

Arcturus Therapeutics (NASDAQ:ARCT) last posted its earnings results on Monday, August 5th. The biotechnology company reported ($0.64) earnings per share for the quarter, topping the consensus estimate of ($1.85) by $1.21. Arcturus Therapeutics had a negative net margin of 41.21% and a negative return on equity of 25.47%. The company had revenue of $49.86 million for the quarter, compared to analyst estimates of $21.00 million. During the same period last year, the business posted ($1.98) earnings per share. Analysts forecast that Arcturus Therapeutics Holdings Inc. will post -2.6 EPS for the current year.

Institutional Trading of Arcturus Therapeutics

A number of large investors have recently bought and sold shares of ARCT. nVerses Capital LLC acquired a new stake in shares of Arcturus Therapeutics during the third quarter worth $42,000. SG Americas Securities LLC acquired a new stake in Arcturus Therapeutics in the 3rd quarter valued at approximately $191,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Arcturus Therapeutics in the 2nd quarter valued at approximately $142,000. Scientech Research LLC acquired a new position in Arcturus Therapeutics during the 2nd quarter worth approximately $374,000. Finally, Millennium Management LLC grew its stake in shares of Arcturus Therapeutics by 250.1% during the 2nd quarter. Millennium Management LLC now owns 555,024 shares of the biotechnology company’s stock worth $13,515,000 after acquiring an additional 396,505 shares in the last quarter. 94.54% of the stock is owned by institutional investors.

Arcturus Therapeutics Company Profile

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.