Algert Global LLC Invests $97,000 in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Algert Global LLC purchased a new position in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 10,415 shares of the company’s stock, valued at approximately $97,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CWM LLC increased its stake in shares of Arcutis Biotherapeutics by 6,740.0% in the second quarter. CWM LLC now owns 4,104 shares of the company’s stock valued at $38,000 after buying an additional 4,044 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in Arcutis Biotherapeutics by 55.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 7,871 shares of the company’s stock valued at $78,000 after acquiring an additional 2,800 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Arcutis Biotherapeutics in the second quarter worth about $174,000. China Universal Asset Management Co. Ltd. lifted its position in shares of Arcutis Biotherapeutics by 70.5% during the first quarter. China Universal Asset Management Co. Ltd. now owns 18,614 shares of the company’s stock worth $184,000 after purchasing an additional 7,694 shares in the last quarter. Finally, Koshinski Asset Management Inc. bought a new stake in shares of Arcutis Biotherapeutics during the first quarter valued at approximately $198,000.

Insider Buying and Selling at Arcutis Biotherapeutics

In other news, 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 transaction, the insider now directly owns 183,288 shares of the company’s stock, valued at $1,653,257.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Howard G. Welgus sold 10,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $9.26, for a total transaction of $92,600.00. Following the completion of the sale, the director now directly owns 181,944 shares of the company’s stock, valued at approximately $1,684,801.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Masaru Matsuda sold 5,220 shares of Arcutis Biotherapeutics stock in a transaction that occurred 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 transaction, the insider now directly owns 183,288 shares in the company, valued at approximately $1,653,257.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,299 shares of company stock valued at $507,911. Corporate insiders own 9.50% of the company’s stock.

Arcutis Biotherapeutics Stock Up 0.1 %

Shares of Arcutis Biotherapeutics stock opened at $9.79 on Friday. The business has a fifty day simple moving average of $9.83 and a 200 day simple moving average of $9.49. The stock has a market cap of $1.14 billion, a PE ratio of -4.47 and a beta of 1.17. The company has a quick ratio of 8.19, a current ratio of 8.46 and a debt-to-equity ratio of 1.09. Arcutis Biotherapeutics, Inc. has a 12 month low of $1.76 and a 12 month high of $13.17.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.42) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.06. Arcutis Biotherapeutics had a negative return on equity of 145.41% and a negative net margin of 150.51%. The company had revenue of $30.86 million during the quarter, compared to analysts’ expectations of $31.00 million. During the same period in the prior year, the business posted ($1.16) EPS. Research analysts predict that Arcutis Biotherapeutics, Inc. will post -1.56 EPS for the current year.

Analysts Set New Price Targets

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

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.