Arcutis Biotherapeutics Target of Unusually Large Options Trading (NASDAQ:ARQT)

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) saw some unusual options trading on Monday. Investors acquired 10,199 put options on the stock. This represents an increase of approximately 338% compared to the typical volume of 2,329 put options.

Insider Activity

In other news, insider Masaru Matsuda sold 3,760 shares of the firm's stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $11.12, for a total value of $41,811.20. Following the completion of the transaction, the insider now owns 190,424 shares in the company, valued at approximately $2,117,514.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 20.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ARQT. Cape Investment Advisory Inc. bought a new position in shares of Arcutis Biotherapeutics during the fourth quarter worth approximately $26,000. Point72 Hong Kong Ltd increased its holdings in shares of Arcutis Biotherapeutics by 102.9% during the second quarter. Point72 Hong Kong Ltd now owns 1,197 shares of the company's stock worth $26,000 after purchasing an additional 607 shares during the period. Cantor Fitzgerald L. P. bought a new position in shares of Arcutis Biotherapeutics during the fourth quarter worth approximately $33,000. Victory Capital Management Inc. bought a new position in Arcutis Biotherapeutics in the fourth quarter valued at approximately $34,000. Finally, China Universal Asset Management Co. Ltd. increased its stake in Arcutis Biotherapeutics by 586.8% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,920 shares of the company's stock valued at $35,000 after acquiring an additional 9,330 shares during the last quarter.

Arcutis Biotherapeutics Stock Performance

ARQT stock traded down $0.23 during mid-day trading on Monday, hitting $9.68. 3,075,253 shares of the company were exchanged, compared to its average volume of 5,142,749. The business has a 50 day simple moving average of $8.65 and a 200-day simple moving average of $5.15. The company has a current ratio of 7.08, a quick ratio of 6.80 and a debt-to-equity ratio of 2.28. The stock has a market capitalization of $937.12 million, a PE ratio of -2.47 and a beta of 1.14. Arcutis Biotherapeutics has a 1-year low of $1.76 and a 1-year high of $15.40.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.64) by ($0.08). The company had revenue of $13.53 million for the quarter, compared to analyst estimates of $11.78 million. Arcutis Biotherapeutics had a negative return on equity of 294.85% and a negative net margin of 439.79%. During the same quarter last year, the business earned ($1.18) earnings per share. On average, equities analysts forecast that Arcutis Biotherapeutics will post -2.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ARQT shares. Mizuho reiterated a "buy" rating and issued a $16.00 target price (up from $8.00) on shares of Arcutis Biotherapeutics in a research note on Friday, February 23rd. The Goldman Sachs Group raised their target price on shares of Arcutis Biotherapeutics from $6.00 to $11.00 and gave the company a "neutral" rating in a research note on Wednesday, February 28th. Finally, Needham & Company LLC raised their target price on shares of Arcutis Biotherapeutics from $8.00 to $16.00 and gave the company a "buy" rating in a research note on Wednesday, February 28th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Arcutis Biotherapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $26.56.

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.