5 Most Undervalued Biotech Stocks to Buy According to Analysts

2. Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT)

Upside Potential as of August 14: 109.73%

PE Ratio (TTM) as of August 14: 6.62

Number of Hedge Fund Holders: 17

San Diego, California-based Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) is a global late stage-clinical messenger RNA medicines company focused on the development of infectious disease vaccines within liver and respiratory rare diseases.

On August 14, Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) announced that its manufacturing joint venture in Japan to support the production of mRNA vaccines and therapeutics has been awarded $115 million in two separate grants from the Japanese government. The company owns 49% equity stake in the joint venture.

As of June 30, 2023, Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) shares were owned by 17 prominent hedge funds with the total shares held by these hedge funds valued at $102 million. Catherine Wood’s ARK Investment Management was the largest hedge fund shareholder with ownership of 1.9 million shares valued at $55 million.