29,244 Shares in Arcutis Biotherapeutics, Inc. $ARQT Purchased by Triumph Capital Management

Key Points

• Triumph Capital Management has acquired a stake in Arcutis Biotherapeutics, purchasing 29,244 shares valued at approximately $410,000 during the second quarter.
• Research analysts have given mixed ratings, with Needham & Company raising its price target from $20.00 to $22.00 while Goldman Sachs assigned a "neutral" rating with a $18.00 target price.
• Insider sales have been reported, including Patrick Burnett selling 23,000 shares and Howard G. Welgus selling 10,000 shares, indicating a decrease in ownership among key executives.

Triumph Capital Management bought a new stake in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 29,244 shares of the company's stock, valued at approximately $410,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ARQT. GF Fund Management CO. LTD. bought a new stake in Arcutis Biotherapeutics during the 4th quarter valued at $34,000. Amalgamated Bank raised its holdings 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. KBC Group NV bought a new position in Arcutis Biotherapeutics in the 1st quarter worth $84,000. Nkcfo LLC bought a new position in Arcutis Biotherapeutics in the 1st quarter worth $109,000. Finally, Allostery Investments LP bought a new position in Arcutis Biotherapeutics in the 1st quarter worth $117,000.

Insider Buying and Selling at Arcutis Biotherapeutics

In related news, Director Howard G. Welgus sold 10,000 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $15.64, for a total value of $156,400.00. Following the completion of the transaction, the director directly owned 100,206 shares of the company's stock, valued at approximately $1,567,221.84. This represents a 9.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Todd Watanabe sold 9,625 shares of Arcutis Biotherapeutics stock in a transaction on Monday, September 8th. The stock was sold at an average price of $17.54, for a total value of $168,822.50. Following the transaction, the insider owned 891,944 shares in the company, valued at approximately $15,644,697.76. This represents a 1.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold 123,632 shares of company stock valued at $1,908,955 in the last ninety days. 9.40% of the stock is owned by insiders.

Arcutis Biotherapeutics Trading Down 1.9%

Shares of ARQT traded down $0.33 during trading hours on Friday, reaching $17.38. 2,082,760 shares of the company traded hands, compared to its average volume of 1,522,065. Arcutis Biotherapeutics, Inc. has a 12-month low of $8.03 and a 12-month high of $18.15. The stock's fifty day moving average price is $15.76 and its 200 day moving average price is $14.84. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of -23.17 and a beta of 1.93. 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 released its quarterly earnings data 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. Arcutis Biotherapeutics had a negative net margin of 35.40% and a negative return on equity of 62.62%. The company had revenue of $81.50 million during the quarter, compared to analyst estimates of $72.70 million. Sell-side analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Arcutis Biotherapeutics from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Cowen reaffirmed a "buy" rating on shares of Arcutis Biotherapeutics in a report on Thursday, August 7th. The Goldman Sachs Group began coverage on shares of Arcutis Biotherapeutics in a research report on Friday, July 25th. They set a "neutral" rating and a $18.00 target price for the company. Finally, Needham & Company LLC boosted their target price on shares of Arcutis Biotherapeutics from $20.00 to $22.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Arcutis Biotherapeutics currently has an average rating of "Moderate Buy" and an average price target of $19.80.

Arcutis Biotherapeutics 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.