Empire Life Investments Inc. Increases Stake in Arcturus Therapeutics Holdings Inc.

Empire Life Investments Inc. has significantly boosted its investment in Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) by 85.5% during the fourth quarter. This increase was revealed in the firm's latest Form 13F submission to the Securities and Exchange Commission (SEC). After acquiring an additional 128,771 shares, Empire Life Investments now holds a total of 279,463 shares in the biotechnology company. This represents about 1.03% ownership in Arcturus Therapeutics, amounting to a value of approximately $4,742,000 as per the recent filing.

Additionally, other institutional investors have also made adjustments to their holdings in Arcturus Therapeutics. For instance, Franklin Resources Inc. raised its investment by 54.6% in the third quarter, now owning 103,936 shares valued at $2,412,000 following an increase of 36,714 shares. Similarly, Sumitomo Mitsui Trust Group Inc. upped its investment by 45.6%, owning 2,275,715 shares, worth $52,819,000 after acquiring an additional 712,650 shares. Hennion & Walsh Asset Management Inc. also increased its stake in the company by 139.7% in the fourth quarter, bringing its holdings to 82,057 shares valued at $1,393,000, following the purchase of 47,824 shares. Furthermore, SG Americas Securities LLC entered a new position in Arcturus Therapeutics, valued at $191,000, while Spire Wealth Management experienced a substantial 393.3% increase in its holdings during the same period, now owning 13,478 shares valued at $229,000 after buying an additional 10,746 shares. Currently, institutional investors hold approximately 94.54% of the company's stock.

Analysts Provide Price Targets

In recent reports, several research analysts have shared their outlook on ARCT shares. HC Wainwright reiterated a "buy" rating, setting a price target of $63.00 for Arcturus Therapeutics. Meanwhile, BTIG Research initiated coverage on the shares on January 28th, also giving it a "buy" rating along with a price objective of $41.00. Additionally, Cantor Fitzgerald reaffirmed an "overweight" rating in a research note. Overall, six analysts have rated the stock as a buy, with one providing a strong buy rating. According to MarketBeat, the consensus rating for the company is currently "Buy," with an average price target of $65.00.

Stock Performance of Arcturus Therapeutics

As of Friday, ARCT stock opened at $18.05. The company's market capitalization stands at $488.97 million, with a P/E ratio of -8.13 and a beta of 2.62. It currently has a 50-day simple moving average of $17.03 and a 200-day simple moving average of $19.02. Over the past year, Arcturus Therapeutics has experienced a low of $14.30 and a high of $45.00.

Company Overview

Arcturus Therapeutics Holdings Inc. is engaged in developing messenger RNA (mRNA) medicines and vaccines, particularly focusing on infectious diseases and rare disease treatments related to the liver and respiratory systems. The company employs innovative delivery systems, such as LUNAR lipid-mediated delivery and the STARR mRNA technology platform.

Investment, Biotechnology, Stocks