Silverleafe Capital Partners LLC Makes New $410,000 Investment in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Silverleafe Capital Partners LLC acquired a new position in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 26,208 shares of the company's stock, valued at approximately $410,000.

Other hedge funds have also recently bought and sold shares of the company. American Century Companies Inc. raised its stake in Arcutis Biotherapeutics by 11.4% during the fourth quarter. American Century Companies Inc. now owns 1,631,226 shares of the company's stock worth $22,723,000 after acquiring an additional 166,915 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in Arcutis Biotherapeutics during the fourth quarter worth $1,112,000. Wells Fargo & Company MN raised 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 acquiring an additional 16,682 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in Arcutis Biotherapeutics during the fourth quarter worth $337,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Arcutis Biotherapeutics by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 878,804 shares of the company's stock worth $12,242,000 after acquiring an additional 18,958 shares in the last quarter.

Arcutis Biotherapeutics Price Performance

Shares of ARQT stock traded up $0.15 during trading hours on Friday, hitting $13.82. 1,901,618 shares of the company's stock were exchanged, compared to its average volume of 2,225,304. The stock's 50-day moving average is $13.88 and its 200-day moving average is $13.98. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of -13.29 and a beta of 1.76. Arcutis Biotherapeutics, Inc. has a 52 week low of $7.86 and a 52 week high of $17.75. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.55 and a quick ratio of 3.37.

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

Insider Activity at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, insider Todd Franklin Watanabe sold 1,500 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $17.52, for a total transaction of $26,280.00. Following the transaction, the insider now owns 927,414 shares in the company, valued at approximately $16,248,293.28. This trade represents a 0.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Howard G. Welgus sold 10,139 shares of the firm's 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 transaction, the director now owns 109,414 shares in the company, valued at approximately $1,462,865.18. This trade represents a 8.48% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 7,434 shares of company stock worth $99,277 and have sold 29,791 shares worth $420,541. 9.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ARQT has been the subject of several recent analyst reports. The Goldman Sachs Group increased their price objective on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a "neutral" rating in a research note on Thursday, February 27th. Needham & Company LLC restated a "buy" rating and set a $20.00 target price on shares of Arcutis Biotherapeutics in a report on Friday, May 23rd. Jefferies Financial Group increased their target price on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a "buy" rating in a report on Tuesday, March 11th. Guggenheim restated a "buy" rating on shares of Arcutis Biotherapeutics in a report on Thursday, April 3rd. Finally, Mizuho increased their target price on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $18.80.

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.