Capital Impact Advisors LLC Buys New Stake in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Capital Impact Advisors LLC purchased a new position in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 65,147 shares of the company’s stock, valued at approximately $606,000. Capital Impact Advisors LLC owned 0.06% of Arcutis Biotherapeutics as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Pennant Investors LP acquired a new position in shares of Arcutis Biotherapeutics during the fourth quarter valued at approximately $552,000. SG Americas Securities LLC increased its position in shares of Arcutis Biotherapeutics by 531.2% during the 2nd quarter. SG Americas Securities LLC now owns 99,161 shares of the company’s stock valued at $922,000 after purchasing an additional 83,452 shares during the period. AMI Asset Management Corp bought a new stake in shares of Arcutis Biotherapeutics in the 1st quarter worth $3,421,000. ADAR1 Capital Management LLC bought a new stake in shares of Arcutis Biotherapeutics in the 4th quarter worth $888,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Arcutis Biotherapeutics by 5.5% in the first quarter. Vanguard Group Inc. now owns 5,166,417 shares of the company’s stock valued at $51,199,000 after buying an additional 269,904 shares during the period.

Insider Activity at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, CFO David Joseph Topper sold 11,626 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $9.48, for a total value of $110,214.48. Following the completion of the sale, the chief financial officer now directly owns 158,374 shares in the company, valued at $1,501,385.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO David Joseph Topper sold 11,626 shares of the firm’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $9.48, for a total transaction of $110,214.48. Following the transaction, the chief financial officer now owns 158,374 shares in the company, valued at approximately $1,501,385.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Masaru Matsuda sold 5,220 shares of Arcutis Biotherapeutics stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $9.02, for a total transaction of $47,084.40. Following the completion of the sale, the insider now directly owns 183,288 shares of the company’s stock, valued at approximately $1,653,257.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,574 shares of company stock valued at $378,024. 9.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ARQT shares. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 target price on shares of Arcutis Biotherapeutics in a report on Thursday, August 15th. Jefferies Financial Group assumed coverage on Arcutis Biotherapeutics in a research report on Wednesday, August 28th. They issued a “buy” rating and a $15.00 price target for the company. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $13.33.

Arcutis Biotherapeutics Price Performance

Shares of ARQT opened at $9.36 on Monday. The business’s 50-day moving average is $9.83 and its 200-day moving average is $9.51. The company has a debt-to-equity ratio of 1.09, a current ratio of 8.46 and a quick ratio of 8.19. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of -3.19 and a beta of 1.18. Arcutis Biotherapeutics, Inc. has a fifty-two week low of $1.76 and a fifty-two week high of $13.17.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.06. Arcutis Biotherapeutics had a negative net margin of 150.51% and a negative return on equity of 145.41%. The firm had revenue of $30.86 million for the quarter, compared to analyst estimates of $31.00 million. During the same quarter in the prior year, the business earned ($1.16) EPS. Equities research analysts expect that Arcutis Biotherapeutics, Inc. will post -1.56 EPS for the current fiscal year.

About Arcutis Biotherapeutics

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.