Trek Financial LLC Invests $350,000 in Arcutis Biotherapeutics, Inc. $ARQT

Trek Financial LLC purchased a new stake in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) during the second quarter, HoldingsChannel.com reports. The fund purchased 24,970 shares of the company’s stock, valued at approximately $350,000.

A number of other institutional investors also recently modified their holdings of the company. Paradigm Biocapital Advisors LP bought a new stake in Arcutis Biotherapeutics in the 1st quarter valued at approximately $22,918,000. Nuveen LLC acquired a new stake in Arcutis Biotherapeutics in the first quarter valued at $12,759,000. Jupiter Asset Management Ltd. bought a new position in Arcutis Biotherapeutics during the second quarter worth about $5,787,000. Woodline Partners LP bought a new position in shares of Arcutis Biotherapeutics during the 1st quarter worth approximately $6,412,000. Finally, Vanguard Group Inc. boosted its position in Arcutis Biotherapeutics by 5.9% during the first quarter. Vanguard Group Inc. now owns 6,818,078 shares of the company’s stock worth $106,635,000 after purchasing an additional 377,363 shares during the period.

Insider Transactions at Arcutis Biotherapeutics

In other news, Director Neha Krishnamohan sold 40,504 shares of the firm’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $23.20, for a total transaction of $939,692.80. Following the completion of the transaction, the director owned 22,123 shares of the company’s stock, valued at approximately $513,253.60. This trade represents a 64.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Todd Watanabe sold 48,945 shares of Arcutis Biotherapeutics stock in a transaction on Monday, November 24th. The stock was sold at an average price of $30.36, for a total transaction of $1,485,970.20. Following the transaction, the insider owned 740,537 shares in the company, valued at approximately $22,482,703.32. This trade represents a 6.20% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 337,858 shares of company stock worth $8,482,870. 9.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ARQT. Needham & Company LLC boosted their price objective on Arcutis Biotherapeutics from $22.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, October 28th. Zacks Research upgraded shares of Arcutis Biotherapeutics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 29th. Wall Street Zen upgraded Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 1st. Mizuho upped their price objective on shares of Arcutis Biotherapeutics from $32.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, November 28th. Finally, HC Wainwright reissued a “buy” rating and issued a $30.00 price objective on shares of Arcutis Biotherapeutics in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $29.00.

Arcutis Biotherapeutics Price Performance

Arcutis Biotherapeutics stock opened at $31.16 on Friday. The stock has a 50-day moving average price of $23.98 and a two-hundred day moving average price of $18.13. Arcutis Biotherapeutics, Inc. has a 12 month low of $11.13 and a 12 month high of $31.39. The company has a market capitalization of $3.82 billion, a PE ratio of -86.56 and a beta of 1.69. The company has a current ratio of 3.50, a quick ratio of 3.28 and a debt-to-equity ratio of 0.68.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.16. The company had revenue of $99.22 million during the quarter, compared to the consensus estimate of $86.69 million. Arcutis Biotherapeutics had a negative return on equity of 29.69% and a negative net margin of 13.94%. Analysts expect that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

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.