Jump Financial LLC Raises Stock Position in 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 lifted its position in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) by 177.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 42,000 shares of the company's stock after buying 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.

A number of other institutional investors and hedge funds have also recently modified their holdings of ARQT. Amalgamated Bank boosted its stake in Arcutis Biotherapeutics by 39.4% in the 1st quarter. Amalgamated Bank now owns 3,723 shares of the company's stock worth $58,000 after purchasing an additional 1,053 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in Arcutis Biotherapeutics in the 4th quarter worth approximately $1,112,000. New York State Common Retirement Fund boosted its stake in Arcutis Biotherapeutics by 93.4% in the 1st quarter. New York State Common Retirement Fund now owns 48,670 shares of the company's stock worth $761,000 after purchasing an additional 23,503 shares in the last quarter. Cerity Partners LLC acquired a new stake in Arcutis Biotherapeutics in the 1st quarter worth approximately $303,000. Finally, Vontobel Holding Ltd. acquired a new stake in Arcutis Biotherapeutics in the 1st quarter worth approximately $209,000.

Arcutis Biotherapeutics Stock Performance

Shares of NASDAQ ARQT opened at $15.52 on Monday. 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, Inc. has a 12 month low of $8.03 and a 12 month high of $17.75. The company has a 50 day simple moving average of $14.91 and a two-hundred day simple moving average of $14.44. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of -20.69 and a beta of 1.93.

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

Analyst Ratings Changes

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

Insider Activity

In other news, insider Masaru Matsuda sold 6,330 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $14.33, for a total transaction of $90,708.90. Following the completion of the transaction, the insider directly owned 197,364 shares of the company's stock, valued at $2,828,226.12. The trade was a 3.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Todd Watanabe sold 11,547 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $14.33, for a total transaction of $165,468.51. Following the transaction, the insider directly owned 901,569 shares of the company's stock, valued at approximately $12,919,483.77. This trade represents a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 4,914 shares of company stock worth $64,853 and sold 77,512 shares worth $1,126,600. Company insiders own 9.40% of the company's stock.

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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