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Investors Purchase Large Volume of Call Options on Arcutis Biotherapeutics (NASDAQ:ARQT)

Arcutis Biotherapeutics logo with Medical background

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) was the recipient of unusually large options trading on Tuesday. Traders acquired 21,719 call options on the stock. This represents an increase of 1,193% compared to the typical daily volume of 1,680 call options.

Wall Street Analyst Weigh In

Several brokerages recently commented on ARQT. Needham & Company LLC restated a "buy" rating and set a $18.00 target price on shares of Arcutis Biotherapeutics in a research report on Thursday, November 7th. Jefferies Financial Group began coverage on shares of Arcutis Biotherapeutics in a research report on Wednesday, August 28th. They set a "buy" rating and a $15.00 price target for the company.

View Our Latest Stock Analysis on ARQT

Insiders Place Their Bets

In related 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 value of $110,214.48. Following the completion of the transaction, the chief financial officer now owns 158,374 shares of the company's stock, valued at $1,501,385.52. The trade was a 6.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Howard G. Welgus sold 10,000 shares of the firm's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $12.51, for a total value of $125,100.00. Following the completion of the sale, the director now directly owns 161,944 shares in the company, valued at $2,025,919.44. This trade represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 76,951 shares of company stock worth $770,144. Corporate insiders own 9.50% of the company's stock.

Hedge Funds Weigh In On Arcutis Biotherapeutics

A number of large investors have recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in shares of Arcutis Biotherapeutics by 2.0% in the third quarter. Geode Capital Management LLC now owns 2,470,138 shares of the company's stock worth $22,977,000 after purchasing an additional 48,868 shares during the last quarter. Barclays PLC lifted its stake in shares of Arcutis Biotherapeutics by 45.8% in the third quarter. Barclays PLC now owns 253,392 shares of the company's stock worth $2,356,000 after buying an additional 79,579 shares in the last quarter. XTX Topco Ltd lifted its position in Arcutis Biotherapeutics by 30.9% during the third quarter. XTX Topco Ltd now owns 47,728 shares of the company's stock worth $444,000 after buying an additional 11,262 shares in the last quarter. State Street Corp raised its position in shares of Arcutis Biotherapeutics by 9.9% during the 3rd quarter. State Street Corp now owns 5,641,631 shares of the company's stock valued at $52,467,000 after buying an additional 506,788 shares during the period. Finally, Point72 DIFC Ltd purchased a new stake in shares of Arcutis Biotherapeutics in the 3rd quarter valued at approximately $25,000.

Arcutis Biotherapeutics Stock Up 9.5 %

Shares of NASDAQ ARQT traded up $1.29 during mid-day trading on Tuesday, hitting $14.86. 3,866,227 shares of the stock traded hands, compared to its average volume of 3,132,033. Arcutis Biotherapeutics has a 52 week low of $2.28 and a 52 week high of $15.02. The company has a market cap of $1.74 billion, a price-to-earnings ratio of -8.30 and a beta of 1.32. The stock has a fifty day moving average price of $10.37 and a 200-day moving average price of $9.83. 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 results on Wednesday, November 6th. The company reported ($0.33) earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $38.05 million. Research analysts anticipate that Arcutis Biotherapeutics will post -1.34 EPS for the current year.

Arcutis Biotherapeutics Company Profile

(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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