Barclays PLC Has $2.36 Million Stock Position in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Barclays PLC raised its holdings in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) by 45.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 253,392 shares of the company's stock after purchasing an additional 79,579 shares during the period. Barclays PLC owned about 0.22% of Arcutis Biotherapeutics worth $2,356,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Point72 DIFC Ltd bought a new stake in Arcutis Biotherapeutics in the third quarter valued at $25,000. Algert Global LLC bought a new stake in Arcutis Biotherapeutics in the 2nd quarter valued at about $97,000. Erste Asset Management GmbH acquired a new position in Arcutis Biotherapeutics during the 3rd quarter valued at about $104,000. Victory Capital Management Inc. grew its position in Arcutis Biotherapeutics by 9.9% in 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 during the last quarter. Finally, Creative Planning bought a new stake in shares of Arcutis Biotherapeutics during the third quarter valued at approximately $127,000.

Arcutis Biotherapeutics Price Performance

NASDAQ ARQT traded down $0.06 on Thursday, reaching $14.93. 1,473,660 shares of the stock traded hands, compared to its average volume of 3,119,744. The firm's fifty day simple moving average is $11.06 and its 200 day simple moving average is $10.15. Arcutis Biotherapeutics, Inc. has a 12 month low of $2.96 and a 12 month high of $15.79. The company has a market cap of $1.75 billion, a price-to-earnings ratio of -8.34 and a beta of 1.32. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67.

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ARQT shares. 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 objective for the company. Needham & Company LLC reissued a "buy" rating and set a $18.00 price target on shares of Arcutis Biotherapeutics in a report on Thursday, November 7th.

Insider Buying and Selling

In other Arcutis Biotherapeutics news, SVP Larry Todd Edwards sold 3,725 shares of the company's stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $10.01, for a total value of $37,287.25. Following the transaction, the senior vice president now owns 136,635 shares in the company, valued at approximately $1,367,716.35. This represents a 2.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Todd Franklin Watanabe sold 15,000 shares of the business's stock in a transaction on Friday, December 20th. The shares were sold at an average price of $15.17, for a total transaction of $227,550.00. Following the transaction, the insider now owns 823,430 shares in the company, valued at approximately $12,491,433.10. This represents a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 80,325 shares of company stock valued at $887,480. Company insiders own 9.50% of the company's stock.

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.