AlphaQuest LLC cut its position in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) by 83.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,142 shares of the company's stock after selling 35,696 shares during the period. AlphaQuest LLC's holdings in Arcutis Biotherapeutics were worth $99,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Point72 DIFC Ltd purchased a new stake in shares of Arcutis Biotherapeutics during the 3rd quarter worth about $25,000. Venturi Wealth Management LLC purchased a new stake in shares of Arcutis Biotherapeutics during the 4th quarter worth about $46,000. Erste Asset Management GmbH purchased a new stake in shares of Arcutis Biotherapeutics during the 3rd quarter worth about $104,000. Victory Capital Management Inc. raised its stake in shares of Arcutis Biotherapeutics by 9.9% during the 3rd quarter. Victory Capital Management Inc. now owns 12,843 shares of the company's stock worth $119,000 after purchasing an additional 1,155 shares in the last quarter. Finally, LVW Advisors LLC purchased a new stake in shares of Arcutis Biotherapeutics during the 4th quarter worth about $166,000.
Arcutis Biotherapeutics Stock Performance
Shares of NASDAQ:ARQT traded up $0.24 during trading on Friday, hitting $17.01. 1,973,627 shares of the stock were exchanged, compared to its average volume of 2,394,549. Arcutis Biotherapeutics, Inc. has a 1-year low of $6.99 and a 1-year high of $17.70. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of -9.50 and a beta of 1.48. The company's fifty day simple moving average is $13.67 and its 200-day simple moving average is $12.03. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46.
Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.19. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. The company had revenue of $71.36 million for the quarter, compared to analyst estimates of $60.52 million. Sell-side analysts expect that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on ARQT shares. Guggenheim reissued a "buy" rating on shares of Arcutis Biotherapeutics in a research note on Monday, February 24th. Jefferies Financial Group raised their price objective on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a "buy" rating in a research note on Tuesday, March 11th. HC Wainwright reissued a "buy" rating and issued a $19.00 price objective on shares of Arcutis Biotherapeutics in a research note on Wednesday, February 26th. Needham & Company LLC reissued a "buy" rating and issued a $20.00 price objective on shares of Arcutis Biotherapeutics in a research note on Wednesday, February 26th. Finally, The Goldman Sachs Group raised their price objective on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a "neutral" rating in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.80.
Read Our Latest Stock Report on ARQT
Insider Transactions at Arcutis Biotherapeutics
In related news, insider Masaru Matsuda sold 8,338 shares of the business's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $12.70, for a total value of $105,892.60. Following the sale, the insider now owns 178,692 shares of the company's stock, valued at $2,269,388.40. The trade was a 4.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Patrick Burnett sold 2,819 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $13.03, for a total value of $36,731.57. Following the completion of the sale, the insider now directly owns 167,043 shares in the company, valued at approximately $2,176,570.29. This represents a 1.66 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,290 shares of company stock valued at $775,350. 9.50% of the stock is owned by corporate insiders.
About Arcutis Biotherapeutics
(
Free Report)
Arcutis Biotherapeutics, Inc, a biopharmaceutical company, focuses on developing and commercializing treatments for dermatological diseases. Its lead product candidate is ARQ-151, a topical roflumilast cream that has completed Phase III clinical trials for the treatment of plaque psoriasis and atopic dermatitis.
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