Peak6 LLC Invests $279,000 in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

PEAK6 LLC acquired a new stake in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 20,000 shares of the company's stock, valued at approximately $279,000.

Other large investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC increased its stake in Arcutis Biotherapeutics by 5.8% during the 4th quarter. Jennison Associates LLC now owns 12,339,792 shares of the company's stock worth $171,893,000 after acquiring an additional 676,295 shares during the period. Geode Capital Management LLC raised its stake in Arcutis Biotherapeutics by 2.0% in the third quarter. Geode Capital Management LLC now owns 2,470,138 shares of the company's stock valued at $22,977,000 after purchasing an additional 48,868 shares in the last quarter. American Century Companies Inc. lifted its position 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 purchasing an additional 166,915 shares during the period. JPMorgan Chase & Co. grew its stake in Arcutis Biotherapeutics by 0.9% during the third quarter. JPMorgan Chase & Co. now owns 1,296,911 shares of the company's stock worth $12,061,000 after buying an additional 11,833 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Arcutis Biotherapeutics by 20.1% in the 4th quarter. Invesco Ltd. now owns 1,126,668 shares of the company's stock valued at $15,694,000 after buying an additional 188,184 shares during the period.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ARQT shares. Jefferies Financial Group increased their price target on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a "buy" rating in a research report on Tuesday, March 11th. Mizuho lifted their price target on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. The Goldman Sachs Group boosted their price target on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a "neutral" rating in a report on Thursday, February 27th. HC Wainwright reiterated a "buy" rating and issued a $19.00 target price on shares of Arcutis Biotherapeutics in a research report on Thursday, April 3rd. Finally, Needham & Company LLC reissued a "buy" rating and set a $20.00 target price on shares of Arcutis Biotherapeutics in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Arcutis Biotherapeutics has an average rating of "Moderate Buy" and an average price target of $18.80.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ ARQT traded down $0.11 during mid-day trading on Friday, hitting $14.61. 830,186 shares of the stock traded hands, compared to its average volume of 2,390,052. The company has a market cap of $1.73 billion, a PE ratio of -8.16 and a beta of 1.67. Arcutis Biotherapeutics, Inc. has a twelve month low of $6.99 and a twelve month high of $17.75. 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 firm has a 50 day simple moving average of $14.48 and a two-hundred day simple moving average of $12.89.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.19. The company had revenue of $71.36 million for the quarter, compared to analysts' expectations of $60.52 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. As a group, equities research analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current fiscal year.

Insider Buying and Selling at Arcutis Biotherapeutics

In other news, Director Howard G. Welgus sold 10,000 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $12.71, for a total transaction of $127,100.00. Following the completion of the transaction, the director now directly owns 141,944 shares in the company, valued at $1,804,108.24. This trade represents a 6.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Masaru Matsuda sold 8,338 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $12.70, for a total value of $105,892.60. Following the completion of the transaction, the insider now directly owns 178,692 shares in the company, valued at approximately $2,269,388.40. This represents a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,099 shares of company stock worth $631,256. 9.50% of the stock is currently owned by company insiders.

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.