Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) was the recipient of some unusual options trading activity on Wednesday. Traders acquired 15,306 call options on the company. This is an increase of 522% compared to the average daily volume of 2,461 call options.
Arcutis Biotherapeutics Stock Performance
Shares of Arcutis Biotherapeutics stock traded down $0.15 during midday trading on Wednesday, hitting $12.34. The company had a trading volume of 2,790,633 shares, compared to its average volume of 4,952,863. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of -3.00 and a beta of 1.14. Arcutis Biotherapeutics has a 12-month low of $1.76 and a 12-month high of $15.40. The company has a quick ratio of 6.80, a current ratio of 7.08 and a debt-to-equity ratio of 2.28. The company has a fifty day simple moving average of $9.36 and a 200 day simple moving average of $5.36.
Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last issued its earnings results on Tuesday, February 27th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.64) by ($0.08). Arcutis Biotherapeutics had a negative return on equity of 294.85% and a negative net margin of 439.79%. The firm had revenue of $13.53 million during the quarter, compared to analysts' expectations of $11.78 million. During the same quarter last year, the business earned ($1.18) EPS. As a group, analysts predict that Arcutis Biotherapeutics will post -2.49 earnings per share for the current fiscal year.
Insider Activity at Arcutis Biotherapeutics
In other news, insider Masaru Matsuda sold 3,760 shares of the company's stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $11.12, for a total transaction of $41,811.20. Following the sale, the insider now directly 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 can be accessed through this link. 20.70% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Arcutis Biotherapeutics
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fox Run Management L.L.C. acquired a new stake in shares of Arcutis Biotherapeutics in the third quarter worth approximately $60,000. Trexquant Investment LP acquired a new stake in Arcutis Biotherapeutics during the 3rd quarter worth $311,000. China Universal Asset Management Co. Ltd. grew its holdings in shares of Arcutis Biotherapeutics by 586.8% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,920 shares of the company's stock worth $35,000 after buying an additional 9,330 shares in the last quarter. Deutsche Bank AG raised its position in shares of Arcutis Biotherapeutics by 13.7% in the third quarter. Deutsche Bank AG now owns 30,362 shares of the company's stock valued at $161,000 after buying an additional 3,655 shares during the last quarter. Finally, Tejara Capital Ltd raised its position in shares of Arcutis Biotherapeutics by 88.3% in the third quarter. Tejara Capital Ltd now owns 309,179 shares of the company's stock valued at $1,642,000 after buying an additional 145,000 shares during the last quarter.
Wall Street Analyst Weigh In
ARQT has been the subject of a number of research analyst reports. Mizuho reissued a "buy" rating and set a $16.00 price target (up from $8.00) on shares of Arcutis Biotherapeutics in a research note on Friday, February 23rd. Needham & Company LLC upped their price target on shares of Arcutis Biotherapeutics from $8.00 to $16.00 and gave the stock a "buy" rating in a research report on Wednesday, February 28th. Finally, The Goldman Sachs Group boosted their target price on shares of Arcutis Biotherapeutics from $6.00 to $11.00 and gave the stock a "neutral" rating in a report on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $26.56.
Check Out Our Latest Research Report on ARQT
About Arcutis Biotherapeutics
(
Get Free Report)
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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