Empire Life Investments Inc. Raises Stock Position in Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT)

Empire Life Investments Inc. increased its holdings in shares of Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) by 85.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 279,463 shares of the biotechnology company’s stock after purchasing an additional 128,771 shares during the period. Empire Life Investments Inc. owned approximately 1.03% of Arcturus Therapeutics worth $4,742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Franklin Resources Inc. increased its holdings in Arcturus Therapeutics by 54.6% in the third quarter. Franklin Resources Inc. now owns 103,936 shares of the biotechnology company’s stock valued at $2,412,000 after buying an additional 36,714 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Arcturus Therapeutics by 45.6% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,275,715 shares of the biotechnology company’s stock valued at $52,819,000 after buying an additional 712,650 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in Arcturus Therapeutics by 139.7% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 82,057 shares of the biotechnology company’s stock valued at $1,393,000 after buying an additional 47,824 shares in the last quarter. SG Americas Securities LLC purchased a new position in Arcturus Therapeutics in the third quarter valued at $191,000. Finally, Spire Wealth Management increased its holdings in Arcturus Therapeutics by 393.3% in the fourth quarter. Spire Wealth Management now owns 13,478 shares of the biotechnology company’s stock valued at $229,000 after buying an additional 10,746 shares in the last quarter. Hedge funds and other institutional investors own 94.54% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on ARCT shares. HC Wainwright reaffirmed a “buy” rating and issued a $63.00 price objective on shares of Arcturus Therapeutics in a report on Friday. BTIG Research initiated coverage on shares of Arcturus Therapeutics in a report on Tuesday, January 28th. They issued a “buy” rating and a $41.00 price objective for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Arcturus Therapeutics in a research note on Monday, December 16th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $65.00.

Arcturus Therapeutics Stock Up 10.0 %

ARCT stock opened at $18.05 on Friday. The stock has a market capitalization of $488.97 million, a P/E ratio of -8.13 and a beta of 2.62. The firm has a 50-day simple moving average of $17.03 and a 200-day simple moving average of $19.02. Arcturus Therapeutics Holdings Inc. has a 52 week low of $14.30 and a 52 week high of $45.00.

Arcturus Therapeutics Company 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.