Short Interest in Arcturus Therapeutics Ltd (NASDAQ:ARCT) Drops By 11.5%

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Arcturus Therapeutics Ltd (NASDAQ:ARCT) was the recipient of a significant decrease in short interest in the month of June. As of June 30th, there was short interest totalling 89,700 shares, a decrease of 11.5% from the May 30th total of 101,300 shares. Currently, 1.5% of the company’s stock are sold short. Based on an average daily volume of 52,000 shares, the short-interest ratio is presently 1.7 days.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Creative Planning acquired a new stake in shares of Arcturus Therapeutics during the first quarter worth $416,000. Nikko Asset Management Americas Inc. acquired a new stake in shares of Arcturus Therapeutics during the first quarter worth $438,000. Finally, ARK Investment Management LLC raised its position in shares of Arcturus Therapeutics by 13.7% during the first quarter. ARK Investment Management LLC now owns 927,144 shares of the biotechnology company’s stock worth $6,332,000 after purchasing an additional 111,968 shares during the period. Institutional investors own 11.15% of the company’s stock.

ARCT opened at $9.05 on Friday. The company has a current ratio of 2.51, a quick ratio of 2.51 and a debt-to-equity ratio of 2.43. Arcturus Therapeutics has a fifty-two week low of $4.11 and a fifty-two week high of $10.29. The stock has a 50-day simple moving average of $7.91.

Arcturus Therapeutics (NASDAQ:ARCT) last posted its earnings results on Monday, May 13th. The biotechnology company reported ($0.68) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.53) by ($0.15). Arcturus Therapeutics had a negative return on equity of 132.46% and a negative net margin of 124.59%. The business had revenue of $4.35 million during the quarter, compared to analyst estimates of $3.47 million. Equities analysts forecast that Arcturus Therapeutics will post -2.32 EPS for the current fiscal year.

ARCT has been the topic of several research reports. ValuEngine upgraded shares of United Overseas Bank from a “sell” rating to a “hold” rating in a report on Monday, June 17th. Zacks Investment Research upgraded shares of FirstService from a “strong sell” rating to a “hold” rating and set a $110.00 target price on the stock in a report on Tuesday, June 25th. Chardan Capital set a $18.00 target price on shares of Arcturus Therapeutics and gave the stock a “buy” rating in a report on Thursday, June 20th. Finally, HC Wainwright set a $2.00 target price on shares of POET Technologies and gave the stock a “buy” rating in a report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Arcturus Therapeutics presently has a consensus rating of “Buy” and an average price target of $13.83.

About Arcturus Therapeutics

Arcturus Therapeutics Ltd., an RNA medicines company, focuses on treatment of liver and respiratory diseases. The company's pipeline of RNA therapeutics include programs pursuing rare diseases, hepatitis B, non-alcoholic steatohepatitis, cystic fibrosis, and vaccines. The company owns LUNAR lipid-mediated delivery and Unlocked Nucleomonomer Agent (UNA) technology, including UNA Oligomers, which are covered by its patent portfolio, including 152 patents and patent applications issued in the United States, Europe, Japan, China, and internationally.

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