Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Shares Purchased by Algert Global LLC

Algert Global LLC increased its position in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 595.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 72,480 shares of the company’s stock after purchasing an additional 62,065 shares during the period. Algert Global LLC owned 0.06% of Arcutis Biotherapeutics worth $674,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC increased its holdings 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 worth $922,000 after buying an additional 83,452 shares during the last quarter. Vanguard Group Inc. increased its stake in Arcutis Biotherapeutics by 5.5% during the first quarter. Vanguard Group Inc. now owns 5,166,417 shares of the company’s stock worth $51,199,000 after acquiring an additional 269,904 shares during the last quarter. GSA Capital Partners LLP raised its position in Arcutis Biotherapeutics by 730.0% in the third quarter. GSA Capital Partners LLP now owns 237,174 shares of the company’s stock valued at $2,206,000 after purchasing an additional 208,599 shares during the period. Wesbanco Bank Inc. acquired a new position in shares of Arcutis Biotherapeutics in the 3rd quarter valued at $955,000. Finally, AMI Asset Management Corp grew its holdings in shares of Arcutis Biotherapeutics by 36.2% during the 3rd quarter. AMI Asset Management Corp now owns 223,681 shares of the company’s stock worth $2,080,000 after purchasing an additional 59,487 shares during the period.

Analyst Upgrades and Downgrades

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

Arcutis Biotherapeutics Stock Up 11.4 %

Shares of NASDAQ:ARQT opened at $13.04 on Friday. The firm has a market capitalization of $1.53 billion, a PE ratio of -7.12 and a beta of 1.18. Arcutis Biotherapeutics, Inc. has a 1 year low of $1.76 and a 1 year high of $13.50. 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’s 50-day moving average is $9.65 and its two-hundred day moving average is $9.52.

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

Insider Activity

In other news, CFO David Joseph Topper sold 11,626 shares of the stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $9.48, for a total value 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. This represents a 6.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Larry Todd Edwards sold 3,725 shares of the business’s 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 owns 136,635 shares of the company’s stock, valued at approximately $1,367,716.35. The trade was a 2.65 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 76,951 shares of company stock worth $752,744. Corporate insiders own 9.50% of the company’s stock.

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.