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

Algert Global LLC lifted its position in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 595.9% during the third quarter, Holdings Channel reports. The firm owned 72,480 shares of the company’s stock after acquiring an additional 62,065 shares during the quarter. Algert Global LLC’s holdings in Arcutis Biotherapeutics were worth $674,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Jennison Associates LLC increased its position in Arcutis Biotherapeutics by 0.8% during the third quarter. Jennison Associates LLC now owns 11,663,497 shares of the company’s stock worth $108,471,000 after buying an additional 91,803 shares during the period. Rubric Capital Management LP increased its holdings in shares of Arcutis Biotherapeutics by 30.7% in the 2nd quarter. Rubric Capital Management LP now owns 9,816,672 shares of the company’s stock valued at $91,295,000 after acquiring an additional 2,306,672 shares during the period. Vanguard Group Inc. raised its position in Arcutis Biotherapeutics by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 5,166,417 shares of the company’s stock valued at $51,199,000 after purchasing an additional 269,904 shares during the last quarter. Perceptive Advisors LLC boosted its stake in Arcutis Biotherapeutics by 107.8% during the 2nd quarter. Perceptive Advisors LLC now owns 1,558,500 shares of the company’s stock worth $14,494,000 after purchasing an additional 808,500 shares during the period. Finally, Candriam S.C.A. purchased a new position in Arcutis Biotherapeutics during the 2nd quarter worth $12,159,000.

Analyst Upgrades and Downgrades

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

Arcutis Biotherapeutics Stock Up 11.4 %

ARQT stock opened at $13.04 on Friday. The stock has a market capitalization of $1.53 billion, a PE ratio of -7.12 and a beta of 1.18. The company has a fifty day moving average of $9.65 and a 200-day moving average of $9.52. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46. Arcutis Biotherapeutics, Inc. has a one year low of $1.76 and a one year high of $13.50.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $44.76 million during the quarter, compared to the consensus estimate of $38.05 million. As a group, analysts expect that Arcutis Biotherapeutics, Inc. will post -1.34 EPS for the current year.

Insider Activity at Arcutis Biotherapeutics

In related news, insider Patrick Burnett sold 16,023 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $10.14, for a total transaction of $162,473.22. Following the sale, the insider now owns 128,669 shares of the company’s stock, valued at approximately $1,304,703.66. The trade was a 11.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Terrie Curran sold 8,687 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $10.85, for a total transaction of $94,253.95. Following the completion of the transaction, the director now directly owns 10,139 shares of the company’s stock, valued at approximately $110,008.15. This trade represents a 46.14 % 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 $752,744 over the last three months. 9.50% of the stock is currently owned by corporate insiders.

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.