Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Short Interest Up 5.6% in June

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) saw a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 26,020,000 shares, an increase of 5.6% from the May 31st total of 24,640,000 shares. Based on an average daily volume of 2,980,000 shares, the short-interest ratio is presently 8.7 days.

Arcutis Biotherapeutics Stock Up 3.2 %

NASDAQ:ARQT opened at $9.60 on Friday. The firm has a market cap of $1.11 billion, a P/E ratio of -3.28 and a beta of 1.18. The company has a debt-to-equity ratio of 0.90, a quick ratio of 9.61 and a current ratio of 9.89. Arcutis Biotherapeutics has a fifty-two week low of $1.76 and a fifty-two week high of $13.17. The firm has a 50-day simple moving average of $8.62 and a two-hundred day simple moving average of $7.88.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings data on Tuesday, May 14th. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.28. The business had revenue of $49.57 million during the quarter. Arcutis Biotherapeutics had a negative net margin of 204.35% and a negative return on equity of 197.28%. During the same quarter in the prior year, the business posted ($1.31) earnings per share. Analysts predict that Arcutis Biotherapeutics will post -1.6 earnings per share for the current fiscal year.

Insider Activity at Arcutis Biotherapeutics

In related news, Director Howard G. Welgus sold 10,000 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $9.31, for a total transaction of $93,100.00. Following the transaction, the director now owns 180,339 shares of the company’s stock, valued at approximately $1,678,956.09. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Arcutis Biotherapeutics news, Director Howard G. Welgus sold 10,000 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $9.31, for a total transaction of $93,100.00. Following the completion of the sale, the director now owns 180,339 shares of the company’s stock, valued at approximately $1,678,956.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Larry Todd Edwards sold 7,640 shares of the stock in a transaction on Friday, May 17th. The shares were sold at an average price of $8.98, for a total transaction of $68,607.20. Following the sale, the senior vice president now directly owns 140,360 shares of the company’s stock, valued at approximately $1,260,432.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,415 shares of company stock valued at $378,950. Insiders own 9.50% of the company’s stock.

Institutional Trading of Arcutis Biotherapeutics

A number of large investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its stake in shares of Arcutis Biotherapeutics by 3.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 47,753 shares of the company’s stock worth $474,000 after acquiring an additional 1,681 shares during the period. ProShare Advisors LLC boosted its holdings in shares of Arcutis Biotherapeutics by 9.8% in the first quarter. ProShare Advisors LLC now owns 20,990 shares of the company’s stock worth $208,000 after buying an additional 1,870 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in shares of Arcutis Biotherapeutics by 55.2% in the first quarter. Ameritas Investment Partners Inc. now owns 7,871 shares of the company’s stock worth $78,000 after buying an additional 2,800 shares during the last quarter. Amalgamated Bank boosted its holdings in shares of Arcutis Biotherapeutics by 48.9% in the fourth quarter. Amalgamated Bank now owns 11,078 shares of the company’s stock worth $36,000 after buying an additional 3,639 shares during the last quarter. Finally, Deutsche Bank AG boosted its holdings 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 worth $161,000 after buying an additional 3,655 shares during the last quarter.

Wall Street Analysts Forecast Growth

ARQT has been the subject of a number of recent research reports. Mizuho lifted their price target on shares of Arcutis Biotherapeutics from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Needham & Company LLC lifted their price target on shares of Arcutis Biotherapeutics from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $25.38.

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.