Zweig DiMenna Associates LLC Makes New Investment in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Zweig DiMenna Associates LLC acquired a new stake in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 41,500 shares of the company's stock, valued at approximately $578,000.

Other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC grew its stake in Arcutis Biotherapeutics by 25.4% in the 4th quarter. SG Americas Securities LLC now owns 48,087 shares of the company's stock valued at $670,000 after buying an additional 9,754 shares during the last quarter. LVW Advisors LLC bought a new position in shares of Arcutis Biotherapeutics in the fourth quarter worth about $166,000. JPMorgan Chase & Co. lifted its position in shares of Arcutis Biotherapeutics by 0.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,296,911 shares of the company's stock worth $12,061,000 after purchasing an additional 11,833 shares during the last quarter. Geode Capital Management LLC increased its position in Arcutis Biotherapeutics by 2.0% during the third quarter. Geode Capital Management LLC now owns 2,470,138 shares of the company's stock worth $22,977,000 after acquiring an additional 48,868 shares during the period. Finally, Barclays PLC grew its position in Arcutis Biotherapeutics by 45.8% in the 3rd quarter. Barclays PLC now owns 253,392 shares of the company's stock worth $2,356,000 after purchasing an additional 79,579 shares during the last quarter.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ ARQT traded up $0.25 during mid-day trading on Friday, hitting $13.85. 1,936,176 shares of the stock traded hands, compared to its average volume of 1,937,491. Arcutis Biotherapeutics, Inc. has a twelve month low of $4.44 and a twelve month high of $16.20. The firm has a 50 day simple moving average of $13.03 and a two-hundred day simple moving average of $10.88. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38. The company has a market cap of $1.62 billion, a PE ratio of -7.74 and a beta of 1.30.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last posted its 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 business had revenue of $44.76 million for the quarter, compared to the consensus estimate of $38.05 million. As a group, equities research analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ARQT. Mizuho lifted their price target on shares of Arcutis Biotherapeutics from $19.00 to $20.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 7th. 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. Finally, HC Wainwright reiterated a "buy" rating and issued a $19.00 price objective on shares of Arcutis Biotherapeutics in a research report on Monday, January 13th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Arcutis Biotherapeutics currently has an average rating of "Moderate Buy" and an average target price of $16.60.

Insider Transactions at Arcutis Biotherapeutics

In other news, insider Todd Franklin Watanabe sold 15,000 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the insider now owns 823,430 shares of the company's stock, valued at $12,491,433.10. This trade represents a 1.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Howard G. Welgus sold 10,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $8.65, for a total transaction of $86,500.00. Following the transaction, the director now directly owns 171,944 shares in the company, valued at approximately $1,487,315.60. This represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 78,291 shares of company stock worth $927,966 over the last ninety days. 9.50% of the stock is owned by insiders.

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.