GAMMA Investing LLC Purchases 14,375 Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

GAMMA Investing LLC raised its position in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 1,261.0% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 15,515 shares of the company’s stock after buying an additional 14,375 shares during the period. GAMMA Investing LLC’s holdings in Arcutis Biotherapeutics were worth $2,430,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC bought a new position in Arcutis Biotherapeutics in the 4th quarter valued at $291,000. GF Fund Management CO. LTD. bought a new position in shares of Arcutis Biotherapeutics in the 4th quarter worth $34,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Arcutis Biotherapeutics by 1.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 280,100 shares of the company’s stock worth $3,902,000 after purchasing an additional 3,409 shares during the last quarter. Voloridge Investment Management LLC boosted its position in shares of Arcutis Biotherapeutics by 126.5% in the 4th quarter. Voloridge Investment Management LLC now owns 290,938 shares of the company’s stock worth $4,053,000 after purchasing an additional 162,495 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its position in shares of Arcutis Biotherapeutics by 67.2% in the 4th quarter. Squarepoint Ops LLC now owns 121,392 shares of the company’s stock worth $1,691,000 after purchasing an additional 48,769 shares during the last quarter.

Arcutis Biotherapeutics Stock Performance

Shares of Arcutis Biotherapeutics stock opened at $13.50 on Friday. The company has a market capitalization of $1.61 billion, a PE ratio of -7.54 and a beta of 1.76. Arcutis Biotherapeutics, Inc. has a 12 month low of $7.64 and a 12 month high of $17.75. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67. The stock’s fifty day simple moving average is $13.89 and its 200 day simple moving average is $13.91.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.01. The business had revenue of $65.85 million for the quarter, compared to the consensus estimate of $64.80 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. On average, research analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

Insider Buying and Selling at Arcutis Biotherapeutics

In other news, insider Larry Todd Edwards sold 7,451 shares of the business’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $14.07, for a total transaction of $104,835.57. Following the completion of the sale, the insider now owns 183,104 shares in the company, valued at $2,576,273.28. The trade was a 3.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Todd Franklin Watanabe sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $17.52, for a total value of $26,280.00. Following the sale, the insider now owns 927,414 shares of the company’s stock, valued at approximately $16,248,293.28. This represents a 0.16% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 4,788 shares of company stock valued at $64,667 and have sold 20,852 shares valued at $306,114. Company insiders own 9.40% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Jefferies Financial Group raised their price target on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. HC Wainwright restated a “buy” rating and issued a $19.00 price target on shares of Arcutis Biotherapeutics in a research report on Thursday, April 3rd. Mizuho raised their price target on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Needham & Company LLC restated a “buy” rating and issued a $20.00 price target on shares of Arcutis Biotherapeutics in a research report on Friday, May 23rd. Finally, The Goldman Sachs Group raised their price target on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $18.80.

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.