Cookson Peirce & Co. Inc. Makes New $901,000 Investment in Arcutis Biotherapeutics, Inc. $ARQT

Key Points

• Cookson Peirce & Co. Inc. acquired 57,613 shares of Arcutis Biotherapeutics, valued at approximately $901,000, reflecting growing institutional interest in the company.
• Arcutis recently reported a quarterly EPS of ($0.13), beating estimates, with revenues of $81.50 million, surpassing expectations of $72.70 million.
• Analysts have upgraded Arcutis with ratings ranging from "buy" to "neutral," with an average price target of $19.80, indicating positive market sentiment.

Cookson Peirce & Co. Inc. bought a new stake in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 57,613 shares of the company's stock, valued at approximately $901,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GF Fund Management CO. LTD. purchased a new stake in Arcutis Biotherapeutics during the fourth quarter valued at about $34,000. Amalgamated Bank increased its holdings in Arcutis Biotherapeutics by 39.4% in the 1st quarter. Amalgamated Bank now owns 3,723 shares of the company's stock valued at $58,000 after buying an additional 1,053 shares during the period. KBC Group NV bought a new stake in shares of Arcutis Biotherapeutics in the 1st quarter worth about $84,000. Nkcfo LLC bought a new stake in Arcutis Biotherapeutics during the 1st quarter worth about $109,000. Finally, Baader Bank Aktiengesellschaft bought a new stake in Arcutis Biotherapeutics during the 1st quarter worth about $156,000.

Analyst Ratings Changes

A number of research analysts have issued reports on ARQT shares. Wall Street Zen upgraded shares of Arcutis Biotherapeutics from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Cowen reiterated a "buy" rating on shares of Arcutis Biotherapeutics in a research report on Thursday, August 7th. The Goldman Sachs Group began coverage on shares of Arcutis Biotherapeutics in a research report on Friday, July 25th. They issued a "neutral" rating and a $18.00 price target on the stock. Finally, Needham & Company LLC increased their price target on shares of Arcutis Biotherapeutics from $20.00 to $22.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $19.80.

Arcutis Biotherapeutics Stock Performance

Shares of Arcutis Biotherapeutics stock traded down $0.9550 during trading on Tuesday, reaching $15.7850. The company's stock had a trading volume of 617,120 shares, compared to its average volume of 2,139,477. Arcutis Biotherapeutics, Inc. has a 52 week low of $8.03 and a 52 week high of $17.75. The business's 50-day moving average price is $14.53 and its 200-day moving average price is $14.23. The company has a quick ratio of 3.04, a current ratio of 3.20 and a debt-to-equity ratio of 0.77. The firm has a market cap of $1.89 billion, a PE ratio of -21.19 and a beta of 1.84.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.05. The business had revenue of $81.50 million during the quarter, compared to analysts' expectations of $72.70 million. Arcutis Biotherapeutics had a negative net margin of 35.40% and a negative return on equity of 62.62%. Equities analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Todd Watanabe sold 11,547 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $14.33, for a total value of $165,468.51. Following the completion of the sale, the insider directly owned 901,569 shares of the company's stock, valued at approximately $12,919,483.77. This represents a 1.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Patrick J. Heron bought 2,646 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were acquired at an average cost of $13.08 per share, with a total value of $34,609.68. Following the completion of the transaction, the director owned 27,448 shares in the company, valued at approximately $359,019.84. The trade was a 10.67% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 7,434 shares of company stock valued at $99,277 and sold 75,124 shares valued at $1,085,164. Insiders own 9.40% of the company's stock.

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.