GSA Capital Partners LLP Has $2.21 Million Position in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

GSA Capital Partners LLP increased its stake in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) by 730.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 237,174 shares of the company's stock after acquiring an additional 208,599 shares during the quarter. GSA Capital Partners LLP owned approximately 0.20% of Arcutis Biotherapeutics worth $2,206,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ARQT. Mirae Asset Global Investments Co. Ltd. purchased a new position in Arcutis Biotherapeutics in the 1st quarter worth about $469,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Arcutis Biotherapeutics during the first quarter valued at approximately $1,194,000. ProShare Advisors LLC lifted its position in shares of Arcutis Biotherapeutics by 9.8% in the 1st quarter. ProShare Advisors LLC now owns 20,990 shares of the company's stock valued at $208,000 after acquiring an additional 1,870 shares in the last quarter. Koshinski Asset Management Inc. acquired a new position in Arcutis Biotherapeutics in the 1st quarter worth approximately $198,000. Finally, Vanguard Group Inc. grew its position in Arcutis Biotherapeutics by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 5,166,417 shares of the company's stock worth $51,199,000 after purchasing an additional 269,904 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ARQT shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $18.00 target price on shares of Arcutis Biotherapeutics in a research report on Thursday, November 7th. Jefferies Financial Group started coverage on Arcutis Biotherapeutics in a research note on Wednesday, August 28th. They set a "buy" rating and a $15.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $14.40.

Insider Activity at Arcutis Biotherapeutics

In related news, Director Howard G. Welgus sold 10,000 shares of the business's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $8.65, for a total value of $86,500.00. Following the sale, the director now owns 171,944 shares of the company's stock, valued at $1,487,315.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Howard G. Welgus sold 10,000 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $8.65, for a total value of $86,500.00. Following the completion of the transaction, the director now owns 171,944 shares in the company, valued at approximately $1,487,315.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Masaru Matsuda sold 5,015 shares of the business's stock in a transaction on Monday, November 4th. The stock was sold at an average price of $8.68, for a total value of $43,530.20. Following the completion of the transaction, the insider now directly owns 178,273 shares in the company, valued at approximately $1,547,409.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,094 shares of company stock worth $492,157. 9.50% of the stock is owned by corporate insiders.

Arcutis Biotherapeutics Stock Performance

NASDAQ:ARQT traded down $0.14 during mid-day trading on Tuesday, hitting $10.70. 352,937 shares of the company's stock traded hands, compared to its average volume of 3,248,757. The company has a current ratio of 2.46, a quick ratio of 8.19 and a debt-to-equity ratio of 0.67. The firm has a 50 day moving average of $9.67 and a two-hundred day moving average of $9.33. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -6.06 and a beta of 1.18. Arcutis Biotherapeutics, Inc. has a 12 month low of $1.76 and a 12 month high of $13.17.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.33) earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $44.76 million during the quarter, compared to the consensus estimate of $38.05 million. On average, equities analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.37 earnings per share for the current fiscal year.

Arcutis Biotherapeutics 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.