Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) shot up 4.8% during trading on Friday . The stock traded as high as $12.88 and last traded at $12.84. 509,992 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 3,126,030 shares. The stock had previously closed at $12.25.
A number of analysts have issued reports on ARQT shares. Jefferies Financial Group started coverage on Arcutis Biotherapeutics in a research note on Wednesday, August 28th. They issued a "buy" rating and a $15.00 target price for the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $18.00 target price on shares of Arcutis Biotherapeutics in a research note on Thursday, November 7th.
Check Out Our Latest Research Report on Arcutis Biotherapeutics
The business has a fifty day moving average of $10.24 and a 200 day moving average of $9.76. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $1.53 billion, a PE ratio of -7.26 and a beta of 1.32.
Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.09. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. The business had revenue of $44.76 million during the quarter, compared to analysts' expectations of $38.05 million. Equities research analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.34 EPS for the current year.
In related news, SVP Larry Todd Edwards sold 3,725 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $10.01, for a total value of $37,287.25. Following the sale, the senior vice president now directly owns 136,635 shares in the company, valued at $1,367,716.35. The trade was a 2.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO David Joseph Topper sold 11,626 shares of the business's stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $9.48, for a total value of $110,214.48. Following the sale, the chief financial officer now owns 158,374 shares in the company, valued at approximately $1,501,385.52. The trade was a 6.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 76,951 shares of company stock valued at $770,144. Corporate insiders own 9.50% of the company's stock.
Institutional investors have recently bought and sold shares of the company. Point72 DIFC Ltd purchased a new stake in Arcutis Biotherapeutics during the third quarter worth $25,000. CWM LLC increased its stake in Arcutis Biotherapeutics by 6,740.0% in the second quarter. CWM LLC now owns 4,104 shares of the company's stock valued at $38,000 after purchasing an additional 4,044 shares during the last quarter. Algert Global LLC acquired a new stake in Arcutis Biotherapeutics during the second quarter worth about $97,000. Erste Asset Management GmbH acquired a new stake in Arcutis Biotherapeutics during the third quarter worth about $104,000. Finally, Victory Capital Management Inc. increased its stake in Arcutis Biotherapeutics by 9.9% during the third quarter. Victory Capital Management Inc. now owns 12,843 shares of the company's stock worth $119,000 after acquiring an additional 1,155 shares during the last quarter.
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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