Pictet Asset Management SA Boosts Stock Holdings in Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT)

Pictet Asset Management SA boosted its stake in shares of Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCTGet Rating) by 41.2% during the second quarter, HoldingsChannel.com reports. The firm owned 70,374 shares of the biotechnology company’s stock after acquiring an additional 20,532 shares during the period. Pictet Asset Management SA’s holdings in Arcturus Therapeutics were worth $1,108,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Walleye Capital LLC purchased a new position in Arcturus Therapeutics during the second quarter worth approximately $1,070,000. State Board of Administration of Florida Retirement System raised its stake in Arcturus Therapeutics by 71.0% during the second quarter. State Board of Administration of Florida Retirement System now owns 16,711 shares of the biotechnology company’s stock worth $263,000 after purchasing an additional 6,940 shares during the period. Nikko Asset Management Americas Inc. raised its stake in Arcturus Therapeutics by 2.4% during the second quarter. Nikko Asset Management Americas Inc. now owns 1,436,194 shares of the biotechnology company’s stock worth $17,952,000 after purchasing an additional 34,116 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Arcturus Therapeutics by 67.7% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 13,915 shares of the biotechnology company’s stock worth $219,000 after purchasing an additional 5,617 shares during the period. Finally, Integral Health Asset Management LLC raised its stake in Arcturus Therapeutics by 25.2% during the second quarter. Integral Health Asset Management LLC now owns 156,553 shares of the biotechnology company’s stock worth $2,464,000 after purchasing an additional 31,553 shares during the period. Hedge funds and other institutional investors own 83.55% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on ARCT. The Goldman Sachs Group increased their price target on shares of Arcturus Therapeutics from $8.00 to $14.00 and gave the stock a “sell” rating in a research note on Thursday, November 10th. Wells Fargo & Company initiated coverage on shares of Arcturus Therapeutics in a research report on Monday, November 14th. They issued an “overweight” rating and a $35.00 price objective for the company. Barclays raised shares of Arcturus Therapeutics from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $16.00 to $25.00 in a research report on Wednesday, November 2nd. Robert W. Baird lowered shares of Arcturus Therapeutics from a “neutral” rating to an “underperform” rating and set a $18.00 price objective for the company. in a research report on Thursday, November 10th. Finally, Raymond James lowered shares of Arcturus Therapeutics from a “market perform” rating to an “underperform” rating in a research report on Wednesday, August 10th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Arcturus Therapeutics has an average rating of “Hold” and a consensus target price of $28.25.

Arcturus Therapeutics Price Performance

ARCT opened at $16.19 on Wednesday. The firm has a market cap of $428.92 million, a price-to-earnings ratio of -2.91 and a beta of 2.51. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 0.22. Arcturus Therapeutics Holdings Inc. has a twelve month low of $11.70 and a twelve month high of $48.75. The company has a fifty day simple moving average of $16.64 and a 200 day simple moving average of $16.84.

Arcturus Therapeutics Profile

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Arcturus Therapeutics Holdings Inc, an RNA medicines company, focuses on the development of vaccines for infectious, and liver and respiratory rare diseases in the United States. The company's development programs comprise LUNAR-OTC development program for ornithine transcarbamylase (OTC) deficiency; and LUNAR-CF program for cystic fibrosis lung disease caused by mutations in cystic fibrosis transmembrane conductance regulator (CFTR) gene, as well as vaccine programs include LUNAR-COV19 and LUNAR-FLU.

Further Reading

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Institutional Ownership by Quarter for Arcturus Therapeutics (NASDAQ:ARCT)

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