Jump Financial LLC Acquires 26,874 Shares of Arcutis Biotherapeutics, Inc. $ARQT

Key Points

• Jump Financial LLC increased its stake in Arcutis Biotherapeutics by 177.7%, acquiring an additional 26,874 shares for a total value of approximately $657,000 as of their latest SEC filing.
• Arcutis Biotherapeutics reported revenue of $81.50 million for the last quarter, surpassing analysts' expectations of $72.70 million, while it posted a negative EPS of ($0.13).
• Several institutions, including Amalgamated Bank and New York State Common Retirement Fund, have recently increased their holdings in Arcutis Biotherapeutics, demonstrating growing institutional interest in the company.

Jump Financial LLC grew its holdings in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) by 177.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 42,000 shares of the company's stock after purchasing an additional 26,874 shares during the period. Jump Financial LLC's holdings in Arcutis Biotherapeutics were worth $657,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GF Fund Management CO. LTD. bought a new position in shares of Arcutis Biotherapeutics in the 4th quarter valued at $34,000. Amalgamated Bank increased its stake in shares of 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 purchasing an additional 1,053 shares during the last quarter. KBC Group NV bought a new position in shares of Arcutis Biotherapeutics in the 1st quarter valued at $84,000. Nkcfo LLC bought a new position in shares of Arcutis Biotherapeutics in the 1st quarter valued at $109,000. Finally, Baader Bank Aktiengesellschaft bought a new position in shares of Arcutis Biotherapeutics in the 1st quarter valued at $156,000.

Insider Activity

In other news, insider Patrick Burnett sold 23,000 shares of Arcutis Biotherapeutics stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $15.05, for a total value of $346,150.00. Following the completion of the transaction, the insider directly owned 115,468 shares of the company's stock, valued at approximately $1,737,793.40. This trade represents a 16.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Howard G. Welgus sold 10,139 shares of Arcutis Biotherapeutics stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $13.37, for a total value of $135,558.43. Following the completion of the transaction, the director directly owned 109,414 shares of the company's stock, valued at approximately $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 three months, insiders sold 87,512 shares of company stock worth $1,283,000. 9.40% of the stock is owned by corporate insiders.

Arcutis Biotherapeutics Trading Up 1.9%

ARQT traded up $0.31 during midday trading on Friday, hitting $16.52. 763,909 shares of the company were exchanged, compared to its average volume of 2,078,814. The firm has a market capitalization of $1.98 billion, a P/E ratio of -22.11 and a beta of 1.93. Arcutis Biotherapeutics, Inc. has a 1-year low of $8.03 and a 1-year high of $17.75. The firm's 50 day moving average price is $15.02 and its 200-day moving average price is $14.50. The company has a quick ratio of 3.04, a current ratio of 3.20 and a debt-to-equity ratio of 0.77.

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group assumed coverage on Arcutis Biotherapeutics in a report on Friday, July 25th. They set a "neutral" rating and a $18.00 price objective on the stock. Needham & Company LLC raised their price objective on Arcutis Biotherapeutics from $20.00 to $22.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Cowen reissued a "buy" rating on shares of Arcutis Biotherapeutics in a report on Thursday, August 7th. Finally, Wall Street Zen raised Arcutis Biotherapeutics from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, Arcutis Biotherapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $19.80.

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.