Quest Partners LLC Invests $398,000 in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Quest Partners LLC bought a new stake in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 42,838 shares of the company’s stock, valued at approximately $398,000.

Several other institutional investors and hedge funds have also bought and sold shares of ARQT. Victory Capital Management Inc. boosted its stake in shares of Arcutis Biotherapeutics by 9.9% during the 3rd quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock valued at $119,000 after purchasing an additional 1,155 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Arcutis Biotherapeutics by 3.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 47,753 shares of the company’s stock valued at $474,000 after acquiring an additional 1,681 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Arcutis Biotherapeutics by 9.8% during the 1st quarter. ProShare Advisors LLC now owns 20,990 shares of the company’s stock worth $208,000 after acquiring an additional 1,870 shares during the period. CWM LLC raised its position in shares of Arcutis Biotherapeutics by 6,740.0% in the 2nd quarter. CWM LLC now owns 4,104 shares of the company’s stock worth $38,000 after acquiring an additional 4,044 shares in the last quarter. Finally, Dark Forest Capital Management LP lifted its stake in shares of Arcutis Biotherapeutics by 29.9% in the 2nd quarter. Dark Forest Capital Management LP now owns 27,612 shares of the company’s stock valued at $257,000 after purchasing an additional 6,362 shares during the period.

Insider Activity at Arcutis Biotherapeutics

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 sale, the chief financial officer now directly owns 158,374 shares in the company, valued at $1,501,385.52. This trade represents a 6.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Terrie Curran sold 8,687 shares of Arcutis Biotherapeutics stock in a transaction on Monday, November 11th. The shares were sold at an average price of $10.85, for a total transaction of $94,253.95. Following the transaction, the director now owns 10,139 shares in the company, valued at approximately $110,008.15. This trade represents a 46.14 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,928 shares of company stock worth $590,271. Corporate insiders own 9.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on ARQT. Needham & Company LLC reissued a “buy” rating and issued a $18.00 price target on shares of Arcutis Biotherapeutics in a research report on Thursday, November 7th. Jefferies Financial Group began coverage on Arcutis Biotherapeutics in a report on Wednesday, August 28th. They issued a “buy” rating and a $15.00 target price on the stock.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ:ARQT opened at $10.14 on Monday. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $1.19 billion, a PE ratio of -5.66 and a beta of 1.18. The firm’s 50 day moving average price is $9.56 and its 200-day moving average price is $9.44. Arcutis Biotherapeutics, Inc. has a twelve month low of $1.76 and a twelve month high of $13.17.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.09. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. The business had revenue of $44.76 million for the quarter, compared to the consensus estimate of $38.05 million. Equities research analysts expect that Arcutis Biotherapeutics, Inc. will post -1.34 EPS for the current year.

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.