Informed Momentum Co LLC bought a new stake in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 215,763 shares of the company's stock, valued at approximately $3,375,000. Informed Momentum Co LLC owned approximately 0.18% of Arcutis Biotherapeutics at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. GF Fund Management CO. LTD. acquired a new position in shares of Arcutis Biotherapeutics in the 4th quarter valued at approximately $34,000. Amalgamated Bank grew its holdings in Arcutis Biotherapeutics by 39.4% during the 1st quarter. Amalgamated Bank now owns 3,723 shares of the company's stock worth $58,000 after acquiring an additional 1,053 shares during the last quarter. KBC Group NV bought a new stake in Arcutis Biotherapeutics during the 1st quarter worth approximately $84,000. Nkcfo LLC bought a new stake in Arcutis Biotherapeutics during the 1st quarter worth approximately $109,000. Finally, Baader Bank Aktiengesellschaft bought a new stake in Arcutis Biotherapeutics during the 1st quarter worth approximately $156,000.
Insiders Place Their Bets
In other Arcutis Biotherapeutics news, insider Larry Todd Edwards sold 7,451 shares of the company's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $14.07, for a total value of $104,835.57. Following the completion of the transaction, the insider directly owned 183,104 shares in the company, valued at $2,576,273.28. This represents a 3.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Masaru Matsuda sold 6,330 shares of the company's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $14.33, for a total value of $90,708.90. Following the completion of the transaction, the insider owned 197,364 shares of the company's stock, valued at $2,828,226.12. The trade was a 3.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have bought 7,434 shares of company stock worth $99,277 and have sold 82,575 shares worth $1,190,000. Corporate insiders own 9.40% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on ARQT. The Goldman Sachs Group initiated coverage on shares of Arcutis Biotherapeutics in a report on Friday, July 25th. They set a "neutral" rating and a $18.00 target price on the stock. Cowen reiterated a "buy" rating on shares of Arcutis Biotherapeutics in a report on Thursday, August 7th. Needham & Company LLC upped 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. Finally, Wall Street Zen upgraded shares of Arcutis Biotherapeutics from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $19.80.
Get Our Latest Analysis on ARQT
Arcutis Biotherapeutics Price Performance
Shares of ARQT stock traded up $0.91 during trading hours on Friday, hitting $16.89. 2,006,862 shares of the company's stock were exchanged, compared to its average volume of 2,153,093. The company has a market capitalization of $2.03 billion, a PE ratio of -22.52 and a beta of 1.84. Arcutis Biotherapeutics, Inc. has a 12-month low of $8.03 and a 12-month high of $17.75. The business's 50 day simple moving average is $14.43 and its 200-day simple moving average is $14.18. The company has a current ratio of 3.20, a quick ratio of 3.04 and a debt-to-equity ratio of 0.77.
Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.18) by $0.05. The business 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 anticipate that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current year.
Arcutis Biotherapeutics Company Profile
(
Free Report)
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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