Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Short Interest Update

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) was the target of a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 27,130,000 shares, an increase of 9.1% from the September 15th total of 24,860,000 shares. Based on an average trading volume of 2,140,000 shares, the short-interest ratio is presently 12.7 days.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, insider Masaru Matsuda sold 5,220 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $9.02, for a total value of $47,084.40. Following the completion of the sale, the insider now owns 183,288 shares of the company’s stock, valued at $1,653,257.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Arcutis Biotherapeutics news, SVP Larry Todd Edwards sold 3,725 shares of the firm’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 transaction of $37,287.25. Following the completion of the sale, the senior vice president now owns 136,635 shares in the company, valued at $1,367,716.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Masaru Matsuda sold 5,220 shares of the firm’s 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 sale, the insider now owns 183,288 shares in the company, valued at $1,653,257.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,299 shares of company stock valued at $507,911. Company insiders own 9.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARQT. CWM LLC raised its stake in shares of Arcutis Biotherapeutics by 6,740.0% in the 2nd quarter. CWM LLC now owns 4,104 shares of the company’s stock valued at $38,000 after purchasing an additional 4,044 shares during the period. Ameritas Investment Partners Inc. lifted its stake 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. Algert Global LLC acquired a new position in Arcutis Biotherapeutics during the 2nd quarter worth approximately $97,000. Creative Planning acquired a new stake in shares of Arcutis Biotherapeutics in the third quarter valued at approximately $127,000. Finally, China Universal Asset Management Co. Ltd. lifted its position in shares of Arcutis Biotherapeutics by 70.5% in 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.

Arcutis Biotherapeutics Trading Up 0.4 %

NASDAQ:ARQT opened at $9.76 on Thursday. The company has a quick ratio of 8.19, a current ratio of 8.46 and a debt-to-equity ratio of 1.09. The company’s 50 day moving average is $9.85 and its 200-day moving average is $9.49. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of -3.32 and a beta of 1.17. Arcutis Biotherapeutics has a 12 month low of $1.76 and a 12 month high of $13.17.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.42) EPS for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.06. The company had revenue of $30.86 million for the quarter, compared to analyst estimates of $31.00 million. Arcutis Biotherapeutics had a negative return on equity of 145.41% and a negative net margin of 150.51%. During the same quarter in the previous year, the firm earned ($1.16) earnings per share. Equities analysts anticipate that Arcutis Biotherapeutics will post -1.56 EPS for the current year.

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.