Barclays lowers Arcturus Therapeutics Holdings Inc (ARCT) rating to Equal Weight and sets price target at $46

IMTE Stock
IMTE Stock

Barclays took its Arcturus Therapeutics Holdings Inc (NASDAQ: ARCT)‎ rating to the equivalent of Equal ‎Weight from Overweight, and the price target to $46,‎ ‎in a research note ‎dated December 29, 2020. ‎Other ‎analysts also revised their coverage, with ROTH Capital’s analysts downgrading the shares from ‎‎”a Buy” ‎rating to “a Sell” rating in a research note to investors issued in late December. Meanwhile, B. ‎Riley ‎Securities had maintained its rating on ARCT to the earlier “Buy” rating, in a research note ‎produced for ‎clients December 08, 2020. In addition, there was no change from B. Riley Securities on ‎December 07, ‎‎2020. The rater maintained ARCT to “a Buy” but assigned new target price of $111.

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Is Arcturus Therapeutics Holdings Inc. [NASDAQ:ARCT] a Good Buy Right Now?

It should ‎be ‎noted that ARCT technical indicators for short, intermediate as well as long term progress have ‎placed ‎an overall average of 88% as Buy. The average signal changed from 100% Buy in the last week ‎and ‎compares with 88% Buy in the past month. Data from Arcturus Therapeutics Holdings Inc.’s ‎Trend ‎Spotter indicated that the signals were Weakest. The stock current average is 1.65 million shares ‎in the ‎past 20 days and the short term average signal indicates a 50% Buy. In the last 50 days, the ‎average ‎trading volume was 1.16 million shares while the medium term average advocated for 100% ‎Buy. The ‎average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.92 ‎million ‎shares.‎‎

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ARCT Price Performance

On Wall Street, Arcturus Therapeutics Holdings ‎Inc. ‎‎[NASDAQ:ARCT] finished Monday’s session down -5.82% at $92.42. The stock went up to $103.00 ‎at ‎the same session while its lowest single day price was $92.125. In the last five days, it saw a fall ‎of ‎about -6.92%, Arcturus Therapeutics Holdings Inc. shares gained by almost 750.23% since the ‎beginning ‎of the year. However, the share price has dropped to as low as -28.75% below its one year ‎high. On ‎‎12/07/20, the company shares recorded $129.71, the highest single-day price it has got to in ‎the last 52-‎weeks and a 52-week low was seen on 03/13/20, the same year at $8.51. The company’s ‎shares have ‎inclined by 706.46% in the past year. The 50-day SMA achieved is $73.07 while the 200-day ‎SMA is ‎‎$48.59. Volume gained to 1.82 million from 1.56 million in the previous session.‎‎

ARCT Stock Support And Resistance Levels

On the 24-hour scale, the immediate backing ‎is ‎perceived around 88.70 level, and in case of violation of this particular level, it will cause more drop ‎to ‎‎84.97 level. On the upper level, 106.72 is still the key resistance. The stock may increase to ‎the ‎subsequent resistance at 99.57. The Relative Strength Index (RSI) pinned on the 14-day chart is ‎‎50.23, ‎implying a neutral technical stance while the MACD stands at -5.87, meaning price will decrease ‎in the ‎next trading period. Percent R indicator moved to 89.97%, implying bearish price ‎movement. ‎Stochastic %K at 18.42% suggest selling the stock.‎‎

What is the short interest in Arcturus Therapeutics Holdings Inc.?

Short interest in ‎the ‎Arcturus Therapeutics Holdings Inc. stock has surged, increasing by 0.99 million shares to total ‎‎3.7 ‎million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 4.69 million, ‎data ‎from Yahoo Finance shows. The decrease of -26.76% suggests the stock saw some decreased ‎bullish ‎sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account ‎for just ‎‎19.58% of the overall float for the stock.‎‎

Arcturus Therapeutics Holdings Inc.’s Biggest Shareholders: Who Owns Arcturus ‎Therapeutics ‎Holdings Inc. [ARCT]?

Filings by ARK Investment Management LLC showed that the ‎firm now ‎holds a total of 2,495,842 shares or roughly 10.19% of the outstanding ARCT shares. This ‎means their ‎shares have increased by 577,007 from the 2,495,842 the investor reportedly held in its ‎prior 13-F filing. ‎With the conclusion of the purchase, HealthCor Management LP updated stake is ‎worth $146,306,916. ‎Details in the latest 13F filings reveal that SSgA Funds Management, Inc. acquired ‎their 504.70% stake ‎valued at $143,168,907 while Federated Global Investment Manag added theirs at ‎‎$125,252,400. During ‎the last quarter, SSgA Funds Management, Inc. raised 1,302,232 of its shares in ‎Arcturus Therapeutics ‎Holdings Inc. while Federated Global Investment Manag bought 750,000 shares. ‎The BlackRock Fund ‎Advisors’s holdings currently number 1,032,203 shares at $95396201.26. According ‎to the firm’s last 13F ‎report, The Vanguard Group, Inc. shares in the company at filing stood at 984,328 ‎shares, roughly ‎‎$90,321,937.‎‎

ARCT Earnings Forecast For The Current Quarter

Arcturus Therapeutics Holdings Inc. ‎‎[ARCT] ‎is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus ‎estimates ‎give the company expected revenues of $2.36M and an earnings per share of -$0.89 for Dec ‎‎2020. ‎Looking further ahead, the company is expected to report revenue of $10.96M at an EPS of -‎‎$0.58 for ‎Mar 2021. The estimates represent downside of 1,821.10% and 106.50% in the company’s ‎revenue and ‎earnings per share, respectively, on a year-on-year basis.‎‎

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ARCT Earnings Estimates For The ‎Current ‎Year

For the financial year, Arcturus Therapeutics Holdings Inc. [NASDAQ:ARCT] is ‎expected to ‎bring in revenue of $9.76M. The returns are nearly $-11.03 million lower than the ‎company’s actual ‎revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it ‎at -3.1, lower ‎than that of FY19 by -$0.95. Estimates put this year’s earnings growth at -44.20%, 106.50% ‎for the next. As for sales, forecasts are for a decrease of -53.10% ‎in the current fiscal year and a further ‎‎1,821.10% over the following year.‎


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