SG Americas Securities LLC Takes Position in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

SG Americas Securities LLC purchased a new stake in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 24,356 shares of the company’s stock, valued at approximately $79,000.

Several other institutional investors have also made changes to their positions in ARQT. Point72 Hong Kong Ltd lifted its holdings in shares of Arcutis Biotherapeutics by 102.9% during the 2nd quarter. Point72 Hong Kong Ltd now owns 1,197 shares of the company’s stock valued at $26,000 after buying an additional 607 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Arcutis Biotherapeutics during the 1st quarter valued at about $44,000. Fox Run Management L.L.C. acquired a new stake in shares of Arcutis Biotherapeutics during the 3rd quarter valued at about $60,000. Schroder Investment Management Group acquired a new stake in shares of Arcutis Biotherapeutics during the 3rd quarter valued at about $64,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Arcutis Biotherapeutics by 19.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 9,815 shares of the company’s stock valued at $94,000 after buying an additional 1,598 shares during the last quarter.

Arcutis Biotherapeutics Stock Performance

Shares of NASDAQ ARQT opened at $9.10 on Friday. Arcutis Biotherapeutics, Inc. has a 12 month low of $1.76 and a 12 month high of $15.21. The company has a market cap of $880.97 million, a P/E ratio of -2.32 and a beta of 1.14. The business’s 50 day moving average is $10.06 and its two-hundred day moving average is $5.65. The company has a quick ratio of 6.80, a current ratio of 7.08 and a debt-to-equity ratio of 2.28.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.64) by ($0.08). Arcutis Biotherapeutics had a negative return on equity of 294.85% and a negative net margin of 439.79%. The firm had revenue of $13.53 million for the quarter, compared to analyst estimates of $11.78 million. During the same period in the previous year, the business posted ($1.18) EPS. On average, equities analysts expect that Arcutis Biotherapeutics, Inc. will post -2.49 EPS for the current year.

Analysts Set New Price Targets

ARQT has been the topic of a number of recent analyst reports. Mizuho reissued a “buy” rating and issued a $16.00 price objective (up from $8.00) on shares of Arcutis Biotherapeutics in a research note on Friday, February 23rd. Needham & Company LLC reissued a “buy” rating and issued a $16.00 price objective on shares of Arcutis Biotherapeutics in a research note on Friday, April 12th. Finally, The Goldman Sachs Group raised their price objective on Arcutis Biotherapeutics from $6.00 to $11.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $26.56.

Insider Transactions at Arcutis Biotherapeutics

In other news, insider Masaru Matsuda sold 3,760 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $11.12, for a total transaction of $41,811.20. Following the sale, the insider now owns 190,424 shares of the company’s stock, valued at approximately $2,117,514.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 20.70% of the stock is owned by 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.