In recent trading activity, Pad Chivukula, the Chief Scientific Officer & COO of Arcturus Therapeutics (NASDAQ:ARCT) Holdings Inc. (NASDAQ:ARCT), sold 8,565 shares of the company's common stock. The transactions, which took place on March 19, 2024, were executed at a weighted average price of $35.0075 per share, with individual sales prices ranging from $35.00 to $35.02. The total value of the shares sold by Chivukula amounted to approximately $299,839.
The sales were conducted under a prearranged 10b5-1 trading plan, a tool that allows insiders to establish a predetermined plan for transacting in their company's stock, providing an affirmative defense against accusations of trading on nonpublic information. This allows executives to sell their shares at times when they might otherwise be prevented from doing so due to insider trading laws.
Following the sale, Chivukula still owns a substantial number of shares in Arcturus, with his holdings totaling 490,883 shares of common stock. The company, based in San Diego, California, operates in the pharmaceutical preparations industry and is known for its work in developing innovative medicines.
Investors and market watchers often pay close attention to insider transactions as they can provide insights into an insider’s view of the company's value. However, these transactions are not necessarily indicative of a strategic shift and may simply reflect an individual's personal financial decisions.
Arcturus Therapeutics Holdings Inc. has not made any official statements regarding the transactions at this time.
InvestingPro Insights
Amidst the insider trading activity at Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT), investors may find the latest data and insights from InvestingPro useful in evaluating the company's current financial health and future prospects. According to the real-time metrics provided by InvestingPro, Arcturus has a market capitalization of approximately $891.7 million. Despite a challenging period reflected by a negative revenue growth rate of -19.03% over the last twelve months as of Q4 2023, the company boasts an impressive gross profit margin of 91.04%.
One of the notable InvestingPro Tips for Arcturus is that the company holds more cash than debt on its balance sheet, which can be a sign of financial stability and may provide some reassurance to investors concerned about the company's ability to manage its finances in uncertain times. Furthermore, the company has a high shareholder yield, which could be attractive to investors looking for companies that return value to shareholders.
InvestingPro also highlights that two analysts have revised their earnings upwards for the upcoming period, suggesting a potential positive outlook on the company's earnings performance. However, it's important to note that analysts do not anticipate the company will be profitable this year, and a sales decline is expected in the current year. Additionally, the stock price has experienced significant volatility, with a one-week total price return of -8.85%, indicating that investors may need to be prepared for fluctuations in the stock's value.
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