Arcturus Therapeutics (NASDAQ:ARCT) Stock Price Down 5.8% on Insider Selling

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) fell 5.8% on Thursday after an insider sold shares in the company. The stock traded as low as $19.44 and last traded at $19.44. 54,219 shares traded 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 business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $20.76, for a total transaction of $249,120.00. Following the sale, the chief operating officer now directly owns 435,334 shares of the company’s stock, valued at $9,037,533.84. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.

Wall Street Analysts Forecast Growth

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

Arcturus Therapeutics Trading Down 4.0 %

The company has a market capitalization of $533.52 million, a P/E ratio of -5.28 and a beta of 2.61. The company has a 50 day moving average price of $21.06 and a 200 day moving average price of $25.53.

Arcturus Therapeutics (NASDAQ:ARCT) last released its quarterly earnings data on Monday, August 5th. The biotechnology company reported ($0.64) EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $49.86 million during the quarter, compared to analysts’ expectations of $21.00 million. During the same period in the previous year, the business posted ($1.98) earnings per share. As a group, sell-side analysts forecast that Arcturus Therapeutics Holdings Inc. will post -2.6 EPS for the current fiscal year.

Institutional Trading of Arcturus Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. nVerses Capital LLC bought a new position in Arcturus Therapeutics in the 3rd quarter valued at about $42,000. SG Americas Securities LLC bought a new stake in shares of Arcturus Therapeutics during the third quarter worth approximately $191,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Arcturus Therapeutics during the second quarter worth approximately $142,000. Scientech Research LLC bought a new position in shares of Arcturus Therapeutics during the second quarter worth approximately $374,000. Finally, Millennium Management LLC lifted its holdings in 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 purchasing an additional 396,505 shares during the last quarter. Institutional investors own 94.54% of the company’s stock.

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.