Two Sigma Investments LP Sells 88,821 Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Two Sigma Investments LP decreased its position in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) by 51.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,844 shares of the company's stock after selling 88,821 shares during the period. Two Sigma Investments LP owned 0.07% of Arcutis Biotherapeutics worth $1,182,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ARQT. Barclays PLC raised its holdings in Arcutis Biotherapeutics by 45.8% during the third quarter. Barclays PLC now owns 253,392 shares of the company's stock worth $2,356,000 after purchasing an additional 79,579 shares in the last quarter. Fishman Jay A Ltd. MI increased its holdings in shares of Arcutis Biotherapeutics by 28.3% in the fourth quarter. Fishman Jay A Ltd. MI now owns 536,400 shares of the company's stock valued at $7,472,000 after buying an additional 118,400 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Arcutis Biotherapeutics by 2.8% in the fourth quarter. Rhumbline Advisers now owns 168,052 shares of the company's stock valued at $2,341,000 after buying an additional 4,598 shares in the last quarter. Venturi Wealth Management LLC bought a new position in shares of Arcutis Biotherapeutics in the fourth quarter valued at $46,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Arcutis Biotherapeutics by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 878,804 shares of the company's stock valued at $12,242,000 after buying an additional 18,958 shares in the last quarter.

Insider Buying and Selling

In other news, insider Larry Todd Edwards sold 7,451 shares of the firm'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 sale, the insider now directly owns 183,104 shares of the company's stock, valued at $2,576,273.28. This trade represents a 3.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Patrick J. Heron bought 1,890 shares of the stock in a transaction dated Wednesday, June 4th. The shares were purchased at an average price of $13.32 per share, for a total transaction of $25,174.80. Following the purchase, the director now owns 24,424 shares of the company's stock, valued at $325,327.68. This trade represents a 8.39% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 4,788 shares of company stock valued at $64,667 and sold 33,094 shares valued at $490,234. 9.40% of the stock is owned by company insiders.

Arcutis Biotherapeutics Price Performance

Shares of ARQT traded up $0.86 during trading hours on Friday, hitting $14.37. The stock had a trading volume of 2,439,742 shares, compared to its average volume of 2,270,397. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of -8.03 and a beta of 1.76. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38. The company's fifty day moving average is $14.02 and its two-hundred day moving average is $13.87. Arcutis Biotherapeutics, Inc. has a 52 week low of $6.99 and a 52 week high of $17.75.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.01. The firm had revenue of $65.85 million during the quarter, compared to analysts' expectations of $64.80 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. On average, analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

Analyst Ratings Changes

Several research firms have issued reports on ARQT. HC Wainwright reaffirmed a "buy" rating and issued a $19.00 price target on shares of Arcutis Biotherapeutics in a report on Thursday, April 3rd. Guggenheim reissued a "buy" rating on shares of Arcutis Biotherapeutics in a research note on Thursday, April 3rd. Jefferies Financial Group boosted their target price on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a "buy" rating in a research note on Tuesday, March 11th. Mizuho boosted their target price on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. Finally, The Goldman Sachs Group boosted their target price on shares of Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a "neutral" rating in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $18.80.

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.