Arcturus cut to Neutral at Citi on data for mRNA candidate

[Business on Wall Street in Manhattan]
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Arcturus Therapeutics (NASDAQ:ARCT [https://seekingalpha.com/symbol/ARCT]) traded lower on Friday after Citi downgraded the San Diego, California-based biotech, citing mid-stage data the company posted this week for ARCT-032, a messenger RNA-based therapy targeted at a genetic disorder called cystic fibrosis. [https://seekingalpha.com/news/4506628-arcturus-falls-after-mid-stage-study-data-for-cystic-fibrosis-treatment]

Analyst Yigal Nochomovitz cut Arcturus (NASDAQ:ARCT [https://seekingalpha.com/symbol/ARCT]) to Neutral from Buy, arguing that the interim readout, focused on 10 mg doses of ARCT-032, failed to highlight the drug’s potential in improving FEV1, a key measure of lung function in CF.

The relative 28-day increase of 5.1% in percent predicted FEV₁ (ppFEV₁) fell within BofA’s “worst-case scenario” for ARCT-032, Nochomovitz wrote, slashing his price target on ARCT to $12 from $49 per share and citing a challenging late-stage development for the drug.

"While something more promising could emerge at 15 mg, today’s readout isn’t convincing in our view,” he added, referring to another readout expected from the trial in H1 2026 from a third group of patients who are currently receiving 15 mg dosing of the experimental therapy.

MORE ON ARCTURUS THERAPEUTICS

* Arcturus Therapeutics: CF Setback Reinforces The Risks Of Its mRNA Therapeutics [https://seekingalpha.com/article/4832606-arcturus-therapeutics-cf-setback-reinforces-the-risks-of-its-mrna-therapeutics]
* Arcturus Therapeutics Shows Progress Amid Transition: Why I Assign A Hold Rating [https://seekingalpha.com/article/4825024-arcturus-therapeutics-shows-progress-amid-transition-why-i-assign-a-hold-rating]
* Arcturus Therapeutics Holdings Inc. (ARCT) Q2 2025 Earnings Conference Call Transcript [https://seekingalpha.com/article/4812395-arcturus-therapeutics-holdings-inc-arct-q2-2025-earnings-conference-call-transcript]
* Arcturus falls after mid-stage study data for cystic fibrosis treatment [https://seekingalpha.com/news/4506628-arcturus-falls-after-mid-stage-study-data-for-cystic-fibrosis-treatment]
* Cathie Wood's Ark Invest weekly recap: lifts stake in Bullish and Brera, trims Roku and Tempus AI [https://seekingalpha.com/news/4496499-cathie-woods-ark-invest-weekly-recap-lifts-stake-in-bullish-and-brera-trims-roku-and-tempus-ai]