During November, a significant increase in the number of short positions opened on shares of Arcturus Therapeutics Holdings Inc. (NASDAQ: ARCT) occurred. There were 2,840,000 shares available for a short sale as of November 30. This figure represents a 9.2% increase compared to the 2,600,000 shares available for a short sale the previous day. There is a sale of short interest totaling 12.4% of the company’s total shares on the market. The days-to-cover ratio currently stands at 5.2 days at this time. This figure was arrived at because, on average, 548,300 shares are traded daily.
The percentages of the company’s stock that significant investors own have undergone recent shifts due to recent transactions. During the first three months of the fiscal year, Amalgamated Bank initiated a new investment in Arcturus Therapeutics by contributing $69,000 to the company. During the second quarter, Point72 Asset Management L.P. increased the number of shares it owned in Arcturus Therapeutics by 114.8%, bringing the total number of shares it owned to 1,044,804. Point72 Asset Management L.P. now holds 913,323 shares of the biotechnology company’s stock after purchasing an additional 488,123 shares during the most recent quarter. The value of Point72 Asset Management L.P.’s holdings in the biotechnology company’s stock is $14,376,000. Integral Health Asset Management LLC raised the proportion of Arcturus Therapeutics in which it had invested by 25.2% during the year’s second quarter. Integral Health Asset Management LLC has 156,553 shares of the biotechnology company’s stock, valued at $2,464,000, after acquiring an additional 31,553 shares during the preceding quarter. This brings the total number of shares that the company owns to a total of 156,553. Capital Fund Management S.A. acquired a new stake in Arcturus Therapeutics during the first three months of the year through an investment of approximately $942,000.
Last but not least, during the second quarter, Nikko Asset Management Americas Inc. increased the percentage of ownership it holds in Arcturus Therapeutics by 2.4%. This certainly should not be considered the least important development. Nikko Asset Management Americas Inc. has increased its stake in the biotechnology company by purchasing an additional 34,116 shares, bringing the total number of shares it owns to 1,436,194; the value of these shares is at present $17,952,000. To 83.55% of the company’s shares, hedge funds and other institutional investors now hold ownership positions.
On Friday, trading on the NASDAQ ARCT got underway at $18.24 per share. The share price of Arcturus Therapeutics has ranged from $11.70 to $48.75 over the past year, with a low of $11.70 occurring during that period. The company’s market capitalization is currently valued at $483.23 million, its price-to-earnings ratio is 3.28, and its beta is 2.51 at the moment. The debt-to-equity ratio is calculated to be 0.22, the current ratio is calculated to be 3.25, and the quick ratio is also calculated to be 3.25. The stock has traded at a moving average price of $17.54 over the past 50 trading days, and it has traded at a moving average price of $16.92 over the last 200 trading days.
Regarding ARCT, the perspectives of several different research analysts have been provided. In a research note published on November 10, Goldman Sachs Group increased their price objective for Arcturus Therapeutics from $8.00 to $14.00 and rated the stock as “sell.” The note was about the company’s stock. The report included a recommendation to “sell” the stock as part of its conclusion. In a research report on Arcturus Therapeutics released on Thursday, December 1, StockNews.com suggested that investors “sell” their company shares. The report was published on Thursday. The research report on Arcturus Therapeutics published by Wells Fargo & Company on November 14 marked the beginning of the financial services firm’s company coverage. They provided the company with an “overweight” rating and set the price objective for the stock at $35.00. Robert W. Baird moved Arcturus Therapeutics from “neutral” to “underperform” and lowered the price objective for the company from $20.00 to $18.00. He also changed the rating for the company from “outperform” to “underperform.” After being analyzed, the study’s findings were made available to the general public on November 10. In a research note published on November 2, Barclays raised its price objective for Arcturus Therapeutics from $16.00 to $25.00 and upgraded the company from “underweight” to “equal weight.” The stock has been recommended to sell by four equity research experts, a recommendation to hold it by one, and a recommendation to buy by four analysts. According to Bloomberg.com, the current rating for the company is “Hold,” and the average price objective for the stock is $28.25. This information was gathered from a poll conducted on the website.
As a producer of RNA therapeutics, Arcturus Therapeutics Holdings Inc.’s primary focus is on the research and development of vaccines for less common instances of hepatic, respiratory, and infectious diseases in the United States. People with cystic fibrosis lung disease, brought on by mutations in the CFTR gene (which stands for cystic fibrosis transmembrane conductance regulator), are eligible to participate in the LUNAR-CF program. The LUNAR-COV19 and the LUNAR-FLU programs encourage people to get vaccinated against influenza and other respiratory illnesses. Ornithine transcarbamylase deficiency (also known as OTC insufficiency) is the primary research and development focus of the LUNAR-OTC initiative.
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