Traders Purchase Large Volume of Arcutis Biotherapeutics Call Options (NASDAQ:ARQT)

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) was the target of unusually large options trading on Tuesday. Stock investors acquired 21,719 call options on the stock. This represents an increase of 1,193% compared to the typical daily volume of 1,680 call options.

Wall Street Analyst Weigh In

ARQT has been the subject of a number of recent analyst reports. Jefferies Financial Group started coverage on shares of Arcutis Biotherapeutics in a research report on Wednesday, August 28th. They set a “buy” rating and a $15.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 target price on shares of Arcutis Biotherapeutics in a report on Thursday, November 7th.

Arcutis Biotherapeutics Stock Performance

NASDAQ ARQT opened at $13.40 on Thursday. The company has a market cap of $1.57 billion, a P/E ratio of -7.49 and a beta of 1.32. Arcutis Biotherapeutics has a 1-year low of $2.28 and a 1-year high of $15.02. 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 stock has a 50-day moving average of $10.47 and a two-hundred day moving average of $9.88.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its 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. The firm had revenue of $44.76 million for the quarter, compared to the consensus estimate of $38.05 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. As a group, analysts anticipate that Arcutis Biotherapeutics will post -1.34 EPS for the current year.

Insider Transactions at Arcutis Biotherapeutics

In related news, Director Howard G. Welgus sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $8.65, for a total transaction of $86,500.00. Following the completion of the sale, the director now directly owns 171,944 shares in the company, valued at approximately $1,487,315.60. This trade represents a 5.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Larry Todd Edwards sold 3,725 shares of the 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 completion of the transaction, the senior vice president now owns 136,635 shares of the company’s stock, valued at $1,367,716.35. The trade was a 2.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,951 shares of company stock worth $770,144 in the last ninety days. Insiders own 9.50% of the company’s stock.

Institutional Trading of Arcutis Biotherapeutics

Hedge funds have recently modified their holdings of the stock. Point72 DIFC Ltd purchased a new stake in Arcutis Biotherapeutics during the 3rd quarter worth about $25,000. CWM LLC increased its stake in shares of Arcutis Biotherapeutics by 6,740.0% during the second quarter. CWM LLC now owns 4,104 shares of the company’s stock worth $38,000 after buying an additional 4,044 shares during the period. Algert Global LLC acquired a new stake in Arcutis Biotherapeutics in the second quarter valued at approximately $97,000. Erste Asset Management GmbH purchased a new position in Arcutis Biotherapeutics in the third quarter worth approximately $104,000. Finally, Victory Capital Management Inc. grew its holdings in Arcutis Biotherapeutics by 9.9% during the 3rd 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 in the last quarter.

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.