73,676 Shares in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Purchased by XTX Topco Ltd

Key Points

• XTX Topco Ltd acquired 73,676 shares of Arcutis Biotherapeutics, Inc. for approximately $1.15 million, marking a new investment position as of the first quarter.
• Arcutis Biotherapeutics reported a negative net margin of 60.95% in its latest earnings report, but exceeded revenue expectations with $65.85 million for the quarter.
• Equities research analysts have a consensus rating of "Moderate Buy" for Arcutis Biotherapeutics, with price targets ranging from $18 to $20.

XTX Topco Ltd purchased a new position in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 73,676 shares of the company's stock, valued at approximately $1,152,000. XTX Topco Ltd owned 0.06% of Arcutis Biotherapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of ARQT. KLP Kapitalforvaltning AS bought a new position in Arcutis Biotherapeutics during the fourth quarter worth about $337,000. Norges Bank acquired a new stake in Arcutis Biotherapeutics during the fourth quarter worth about $7,422,000. Wells Fargo & Company MN grew its stake in Arcutis Biotherapeutics by 46.6% during the fourth quarter. Wells Fargo & Company MN now owns 52,455 shares of the company's stock worth $731,000 after buying an additional 16,682 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Arcutis Biotherapeutics during the fourth quarter worth about $245,000. Finally, Invesco Ltd. grew its stake in Arcutis Biotherapeutics by 20.1% during the fourth quarter. Invesco Ltd. now owns 1,126,668 shares of the company's stock worth $15,694,000 after buying an additional 188,184 shares in the last quarter.

Arcutis Biotherapeutics Trading Down 2.0%

Shares of Arcutis Biotherapeutics stock opened at $14.29 on Friday. The firm has a market capitalization of $1.70 billion, a PE ratio of -13.74 and a beta of 1.84. The company has a current ratio of 3.55, a quick ratio of 3.37 and a debt-to-equity ratio of 0.75. The firm's 50 day moving average is $14.18 and its 200 day moving average is $14.09. Arcutis Biotherapeutics, Inc. has a 1 year low of $7.86 and a 1 year high of $17.75.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.01. Arcutis Biotherapeutics had a negative net margin of 60.95% and a negative return on equity of 80.66%. The business had revenue of $65.85 million for the quarter, compared to the consensus estimate of $64.80 million. Equities research analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Arcutis Biotherapeutics

In related news, Director Howard G. Welgus sold 10,139 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $13.37, for a total transaction of $135,558.43. Following the sale, the director directly owned 109,414 shares in the company, valued at $1,462,865.18. This trade represents a 8.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Patrick J. Heron bought 2,646 shares of the business's stock in a transaction that occurred on Friday, June 13th. The shares were acquired at an average price of $13.08 per share, for a total transaction of $34,609.68. Following the completion of the transaction, the director owned 27,448 shares in the company, valued at $359,019.84. This trade represents a 10.67% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 7,434 shares of company stock valued at $99,277 and have sold 52,011 shares valued at $750,607. Company insiders own 9.40% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ARQT shares. The Goldman Sachs Group started coverage on shares of Arcutis Biotherapeutics in a research note on Friday, July 25th. They set a "neutral" rating and a $18.00 price objective on the stock. Needham & Company LLC reiterated a "buy" rating and set a $20.00 price objective on shares of Arcutis Biotherapeutics in a research note on Friday, May 23rd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $19.40.

Arcutis Biotherapeutics Company 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.

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