Arcutis Biotherapeutics (NASDAQ:ARQT) Trading Up 4.2% - What's Next?

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) shot up 4.2% during trading on Friday . The stock traded as high as $14.77 and last traded at $14.70. 293,106 shares were traded during trading, a decline of 91% from the average session volume of 3,115,787 shares. The stock had previously closed at $14.11.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ARQT. Needham & Company LLC reiterated a "buy" rating and issued a $18.00 price objective on shares of Arcutis Biotherapeutics in a research report on Thursday, November 7th. Jefferies Financial Group started coverage on Arcutis Biotherapeutics in a report on Wednesday, August 28th. They issued a "buy" rating and a $15.00 price target for the company.

Arcutis Biotherapeutics Trading Up 6.2 %

The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of -8.37 and a beta of 1.32. The company has a fifty day moving average of $10.63 and a 200-day moving average of $9.93.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.09. The company had revenue of $44.76 million for the quarter, compared to analysts' expectations of $38.05 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. As a group, equities research analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.34 earnings per share for the current fiscal year.

Insider Activity at Arcutis Biotherapeutics

In other news, CFO David Joseph Topper sold 11,626 shares of Arcutis Biotherapeutics stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $9.48, for a total transaction of $110,214.48. Following the transaction, the chief financial officer now owns 158,374 shares in the company, valued at $1,501,385.52. The trade was a 6.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Larry Todd Edwards sold 3,725 shares of the company's stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $10.01, for a total transaction of $37,287.25. Following the completion of the sale, the senior vice president now directly owns 136,635 shares of the company's stock, valued at $1,367,716.35. This represents a 2.65 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 76,951 shares of company stock valued at $770,144. Corporate insiders own 9.50% of the company's stock.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. increased its holdings 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 buying an additional 1,155 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in Arcutis Biotherapeutics during the third quarter worth $25,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Arcutis Biotherapeutics by 1.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 276,691 shares of the company's stock worth $2,573,000 after acquiring an additional 2,912 shares during the last quarter. CWM LLC raised its position in Arcutis Biotherapeutics by 6,740.0% in the second quarter. CWM LLC now owns 4,104 shares of the company's stock valued at $38,000 after purchasing an additional 4,044 shares during the period. Finally, Dark Forest Capital Management LP lifted its stake in shares of Arcutis Biotherapeutics by 29.9% in the 2nd quarter. Dark Forest Capital Management LP now owns 27,612 shares of the company's stock valued at $257,000 after purchasing an additional 6,362 shares during the last quarter.

Arcutis Biotherapeutics Company Profile

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.