Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Shares Purchased by Barclays PLC

Barclays PLC boosted its position in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 45.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 253,392 shares of the company’s stock after buying an additional 79,579 shares during the period. Barclays PLC’s holdings in Arcutis Biotherapeutics were worth $2,356,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ARQT. Bank of New York Mellon Corp increased its stake in shares of Arcutis Biotherapeutics by 25.8% during the second quarter. Bank of New York Mellon Corp now owns 390,202 shares of the company’s stock worth $3,629,000 after acquiring an additional 80,078 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Arcutis Biotherapeutics in the 2nd quarter valued at approximately $174,000. Rhumbline Advisers increased its position in Arcutis Biotherapeutics by 33.5% during the 2nd quarter. Rhumbline Advisers now owns 167,289 shares of the company’s stock worth $1,556,000 after purchasing an additional 41,956 shares during the period. Arizona State Retirement System purchased a new position in shares of Arcutis Biotherapeutics during the 2nd quarter worth approximately $269,000. Finally, Candriam S.C.A. acquired a new stake in shares of Arcutis Biotherapeutics in the 2nd quarter valued at approximately $12,159,000.

Arcutis Biotherapeutics Stock Performance

Shares of ARQT stock opened at $14.99 on Thursday. The stock has a fifty day moving average price of $10.95 and a 200 day moving average price of $10.12. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46. The stock has a market cap of $1.75 billion, a PE ratio of -8.37 and a beta of 1.32. Arcutis Biotherapeutics, Inc. has a 1 year low of $2.96 and a 1 year high of $15.79.

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

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, insider Todd Franklin Watanabe sold 15,000 shares of Arcutis Biotherapeutics stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $15.17, for a total transaction of $227,550.00. Following the completion of the sale, the insider now owns 823,430 shares in the company, valued at approximately $12,491,433.10. This trade represents a 1.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Howard G. Welgus sold 10,000 shares of the business’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 transaction, the director now directly owns 171,944 shares of the company’s stock, valued at $1,487,315.60. The trade was a 5.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 80,325 shares of company stock worth $887,480. 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.