Entropy Technologies LP Purchases Shares of 15,744 Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Entropy Technologies LP purchased a new stake in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 15,744 shares of the company's stock, valued at approximately $246,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ARQT. Wells Fargo & Company MN increased its stake in Arcutis Biotherapeutics by 46.6% during the 4th quarter. Wells Fargo & Company MN now owns 52,455 shares of the company's stock valued at $731,000 after purchasing an additional 16,682 shares in the last quarter. Invesco Ltd. increased its stake in Arcutis Biotherapeutics by 20.1% during the 4th quarter. Invesco Ltd. now owns 1,126,668 shares of the company's stock valued at $15,694,000 after purchasing an additional 188,184 shares in the last quarter. Summit Investment Advisors Inc. increased its stake in Arcutis Biotherapeutics by 8.0% during the 4th quarter. Summit Investment Advisors Inc. now owns 11,245 shares of the company's stock valued at $157,000 after purchasing an additional 837 shares in the last quarter. Jump Financial LLC bought a new stake in Arcutis Biotherapeutics during the 4th quarter valued at $211,000. Finally, PEAK6 LLC bought a new stake in Arcutis Biotherapeutics during the 4th quarter valued at $279,000.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ARQT. The Goldman Sachs Group began coverage on shares of Arcutis Biotherapeutics in a report on Friday, July 25th. They set a "neutral" rating and a $18.00 price objective on the stock. Wall Street Zen raised shares of Arcutis Biotherapeutics from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Cowen reaffirmed a "buy" rating on shares of Arcutis Biotherapeutics in a report on Thursday, August 7th. Finally, Needham & Company LLC lifted their price objective on shares of Arcutis Biotherapeutics from $20.00 to $22.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $19.80.

Insider Buying and Selling

In related news, insider Larry Todd Edwards sold 7,451 shares of the business's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $14.07, for a total value of $104,835.57. Following the transaction, the insider directly owned 183,104 shares of the company's stock, valued at approximately $2,576,273.28. The trade was a 3.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Howard G. Welgus sold 10,139 shares of the business's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $13.37, for a total transaction of $135,558.43. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders bought 7,434 shares of company stock worth $99,277 and sold 82,575 shares worth $1,190,000. Corporate insiders own 9.40% of the company's stock.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ:ARQT opened at $15.98 on Friday. The company's 50-day moving average is $14.43 and its 200 day moving average is $14.18. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.04 and a current ratio of 3.20. The company has a market capitalization of $1.92 billion, a P/E ratio of -21.31 and a beta of 1.84. Arcutis Biotherapeutics, Inc. has a fifty-two week low of $8.03 and a fifty-two week high of $17.75.

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

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.

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