Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) by 45.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,275,715 shares of the biotechnology company’s stock after purchasing an additional 712,650 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 8.45% of Arcturus Therapeutics worth $52,819,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ARCT. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Arcturus Therapeutics by 22.4% during the second 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 in the last quarter. Empire Life Investments Inc. purchased a new stake in shares of Arcturus Therapeutics in the 3rd quarter valued at approximately $3,498,000. XTX Topco Ltd acquired a new position in Arcturus Therapeutics in the 2nd quarter worth approximately $596,000. Squarepoint Ops LLC purchased a new position in Arcturus Therapeutics during the 2nd quarter worth approximately $718,000. Finally, Tidal Investments LLC purchased a new position in Arcturus Therapeutics during the 1st quarter worth approximately $232,000. Institutional investors and hedge funds own 94.54% of the company’s stock.

Arcturus Therapeutics Price Performance

Shares of Arcturus Therapeutics stock opened at $16.02 on Friday. The firm has a market cap of $433.98 million, a price-to-earnings ratio of -7.22 and a beta of 2.64. The stock has a 50-day simple moving average of $20.60 and a 200-day simple moving average of $24.05. Arcturus Therapeutics Holdings Inc. has a 52-week low of $14.93 and a 52-week high of $45.00.

Arcturus Therapeutics (NASDAQ:ARCT) last posted its earnings results on Thursday, November 7th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.44. Arcturus Therapeutics had a negative net margin of 36.39% and a negative return on equity of 22.39%. The firm had revenue of $41.67 million during the quarter, compared to analysts’ expectations of $49.16 million. During the same period in the previous year, the company earned ($0.61) earnings per share. As a group, equities research analysts predict that Arcturus Therapeutics Holdings Inc. will post -2.31 earnings per share for the current year.

Insider Buying and Selling

In other Arcturus Therapeutics news, COO Pad Chivukula sold 12,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $20.76, for a total value of $249,120.00. Following the completion of the sale, the chief operating officer now owns 435,334 shares of the company’s stock, valued at $9,037,533.84. The trade was a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 15.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ARCT has been the subject of several recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcturus Therapeutics in a research report on Monday, September 9th. Leerink Partners started coverage on Arcturus Therapeutics in a research note on Monday, August 12th. They set an “outperform” rating and a $70.00 target price on the stock. Leerink Partnrs upgraded Arcturus Therapeutics to a “strong-buy” rating in a report on Monday, August 12th. Finally, HC Wainwright restated a “buy” rating and set a $63.00 price target on shares of Arcturus Therapeutics in a report on Friday, November 8th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $71.40.

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.