Empire Life Investments Inc. Invests $3.50 Million in Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT)

Empire Life Investments Inc. bought a new stake in Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) in the third quarter, HoldingsChannel reports. The fund bought 150,692 shares of the biotechnology company’s stock, valued at approximately $3,498,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of ARCT. Nordea Investment Management AB purchased a new position in Arcturus Therapeutics in the first quarter valued at approximately $1,846,000. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Arcturus Therapeutics by 22.4% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,563,065 shares of the biotechnology company’s stock valued at $38,061,000 after buying an additional 286,546 shares during the period. XTX Topco Ltd acquired a new position in Arcturus Therapeutics during the 2nd quarter worth approximately $596,000. Squarepoint Ops LLC acquired a new stake in Arcturus Therapeutics in the second quarter valued at approximately $718,000. Finally, Tidal Investments LLC purchased a new stake in shares of Arcturus Therapeutics during the first quarter valued at approximately $232,000. Institutional investors and hedge funds own 94.54% of the company’s stock.

Arcturus Therapeutics Price Performance

Arcturus Therapeutics stock opened at $18.00 on Friday. Arcturus Therapeutics Holdings Inc. has a 12 month low of $17.50 and a 12 month high of $45.00. The company has a fifty day moving average price of $20.86 and a two-hundred day moving average price of $24.52. The company has a market cap of $484.74 million, a PE ratio of -7.00 and a beta of 2.61.

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

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, COO Pad Chivukula sold 12,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $20.76, for a total transaction of $249,120.00. Following the completion of the transaction, the chief operating officer now directly owns 435,334 shares in the company, valued at $9,037,533.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 15.30% of the company’s stock.

Arcturus Therapeutics 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.