ARCT - Arcturus extends losing streak as B. Riley sticks to bearish view

Arcturus Therapeutics ([[ARCT]] -1.9%) is on course to record what could become its longest losing streak since early September 2020 as B. Riley Securities downgrades the stock once more to Sell from Neutral.The analyst Mayank Mamtani has also lowered the 12-month price target to $45.00 from $77.00 per share, implying a ~33.1% downside to the previous close.The analyst no longer expects to see any viability for the company’s experimental COVID-19 vaccine in commercialization viewing a future dominated by the current vaccine frontrunners.Despite the cautious outlook attributed to its development, which is identified as the 'fundamental driver to equity performance near-term,’ the analyst is ‘relatively less concerned’ by the company’s longer-term financial health given its solid balance sheet.Last month, B. Riley downgraded the stock to neutral from buy citing a "broken narrative" for the vaccine candidates' differentiation in light of strong late-stage data from competitors.

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Arcturus extends losing streak as B. Riley sticks to bearish view