Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) shares shot up 4.8% on Friday . The stock traded as high as $12.88 and last traded at $12.84. 509,992 shares were traded during mid-day trading, a decline of 84% from the average session volume of 3,126,030 shares. The stock had previously closed at $12.25.
Analyst Ratings Changes
A number of equities analysts have weighed in on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $18.00 target price on shares of Arcutis Biotherapeutics in a research note on Thursday, November 7th. Jefferies Financial Group assumed coverage on shares of Arcutis Biotherapeutics in a research report on Wednesday, August 28th. They issued a "buy" rating and a $15.00 price objective for the company.
Read Our Latest Report on Arcutis Biotherapeutics
Arcutis Biotherapeutics Price Performance
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 stock has a market capitalization of $1.49 billion, a P/E ratio of -7.09 and a beta of 1.32. The company has a fifty day simple moving average of $10.30 and a two-hundred day simple moving average of $9.79.
Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.09. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. The company had revenue of $44.76 million during the quarter, compared to analysts' expectations of $38.05 million. Sell-side analysts expect that Arcutis Biotherapeutics, Inc. will post -1.34 EPS for the current fiscal year.
Insider Buying and Selling at Arcutis Biotherapeutics
In other news, CFO David Joseph Topper sold 11,626 shares of the business's stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $9.48, for a total transaction of $110,214.48. Following the completion of the transaction, the chief financial officer now directly owns 158,374 shares in the company, valued at approximately $1,501,385.52. The trade was a 6.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Howard G. Welgus sold 10,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $9.26, for a total transaction of $92,600.00. Following the completion of the sale, the director now owns 181,944 shares in the company, valued at $1,684,801.44. This represents a 5.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 76,951 shares of company stock worth $770,144. Insiders own 9.50% of the company's stock.
Hedge Funds Weigh In On Arcutis Biotherapeutics
Several institutional investors and hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. raised its stake in 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 period. Point72 DIFC Ltd acquired a new stake in shares of Arcutis Biotherapeutics during the third quarter worth about $25,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Arcutis Biotherapeutics by 1.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 276,691 shares of the company's stock valued at $2,573,000 after purchasing an additional 2,912 shares in the last quarter. CWM LLC lifted its holdings in shares of Arcutis Biotherapeutics by 6,740.0% during the 2nd quarter. CWM LLC now owns 4,104 shares of the company's stock valued at $38,000 after purchasing an additional 4,044 shares in the last quarter. Finally, Dark Forest Capital Management LP grew its position 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 period.
About Arcutis Biotherapeutics
(
Get 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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