Arcutis Biotherapeutics (NASDAQ:ARQT) Trading Up 5.8%

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)’s stock price traded up 5.8% during trading on Tuesday . The stock traded as high as $10.80 and last traded at $10.75. 976,785 shares changed hands during trading, a decline of 72% from the average session volume of 3,507,957 shares. The stock had previously closed at $10.16.

Wall Street Analyst Weigh In

ARQT has been the subject of a number of analyst reports. Jefferies Financial Group began coverage on shares of Arcutis Biotherapeutics in a report on Wednesday, August 28th. They set a “buy” rating and a $15.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price objective on shares of Arcutis Biotherapeutics in a report on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $13.33.

Arcutis Biotherapeutics Price Performance

The company has a quick ratio of 8.19, a current ratio of 8.46 and a debt-to-equity ratio of 1.09. The firm’s 50-day moving average is $9.92 and its 200-day moving average is $9.57. The company has a market cap of $1.20 billion, a PE ratio of -3.67 and a beta of 1.18.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.06. Arcutis Biotherapeutics had a negative return on equity of 145.41% and a negative net margin of 150.51%. The business had revenue of $30.86 million for the quarter, compared to analysts’ expectations of $31.00 million. During the same period in the previous year, the firm posted ($1.16) EPS. On average, equities analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.56 EPS for the current year.

Insider Activity at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, insider Masaru Matsuda sold 5,220 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $9.02, for a total value of $47,084.40. Following the completion of the transaction, the insider now owns 183,288 shares in the company, valued at $1,653,257.76. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Howard G. Welgus sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $9.87, for a total value of $98,700.00. Following the sale, the director now directly owns 176,953 shares of the company’s stock, valued at approximately $1,746,526.11. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Masaru Matsuda sold 5,220 shares of Arcutis Biotherapeutics stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $9.02, for a total value of $47,084.40. Following the transaction, the insider now owns 183,288 shares of the company’s stock, valued at approximately $1,653,257.76. The disclosure for this sale can be found here. Insiders have sold 36,948 shares of company stock worth $360,910 over the last ninety days. 9.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Cape Investment Advisory Inc. bought a new position in Arcutis Biotherapeutics in the 4th quarter worth about $26,000. Cantor Fitzgerald L. P. bought a new position in Arcutis Biotherapeutics in the 4th quarter valued at approximately $33,000. Victory Capital Management Inc. purchased a new stake in Arcutis Biotherapeutics during the 4th quarter valued at $34,000. Amalgamated Bank increased its holdings in shares of Arcutis Biotherapeutics by 48.9% in the 4th quarter. Amalgamated Bank now owns 11,078 shares of the company’s stock worth $36,000 after purchasing an additional 3,639 shares in the last quarter. Finally, CWM LLC raised its stake in shares of Arcutis Biotherapeutics by 6,740.0% in the second quarter. CWM LLC now owns 4,104 shares of the company’s stock worth $38,000 after purchasing an additional 4,044 shares during the last quarter.

About Arcutis Biotherapeutics

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.