Quest Partners LLC Acquires Shares of 42,838 Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Quest Partners LLC bought a new position in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 42,838 shares of the company’s stock, valued at approximately $398,000.

Other large investors have also recently modified their holdings of the company. ProShare Advisors LLC boosted its stake in Arcutis Biotherapeutics by 9.8% during the first quarter. ProShare Advisors LLC now owns 20,990 shares of the company’s stock worth $208,000 after buying an additional 1,870 shares during the period. Vanguard Group Inc. boosted its stake in shares of Arcutis Biotherapeutics by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 5,166,417 shares of the company’s stock worth $51,199,000 after purchasing an additional 269,904 shares during the period. PEAK6 Investments LLC grew its holdings in Arcutis Biotherapeutics by 50.0% during the 1st quarter. PEAK6 Investments LLC now owns 30,000 shares of the company’s stock valued at $297,000 after purchasing an additional 10,000 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Arcutis Biotherapeutics by 3.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 47,753 shares of the company’s stock worth $474,000 after purchasing an additional 1,681 shares during the period. Finally, Ikarian Capital LLC bought a new stake in Arcutis Biotherapeutics in the first quarter worth about $5,843,000.

Insider Buying and Selling

In other news, SVP Larry Todd Edwards sold 3,725 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $10.01, for a total value of $37,287.25. Following the completion of the transaction, the senior vice president now directly owns 136,635 shares of the company’s stock, valued at approximately $1,367,716.35. The trade was a 2.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO David Joseph Topper sold 11,626 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $9.48, for a total value of $110,214.48. Following the sale, the chief financial officer now directly owns 158,374 shares in the company, valued at approximately $1,501,385.52. The trade was a 6.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,928 shares of company stock valued at $590,271 over the last three months. 9.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

Arcutis Biotherapeutics Stock Performance

Arcutis Biotherapeutics stock opened at $10.14 on Monday. 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 company has a market capitalization of $1.19 billion, a PE ratio of -5.66 and a beta of 1.18. The company has a 50 day moving average price of $9.56 and a 200-day moving average price of $9.44. Arcutis Biotherapeutics, Inc. has a fifty-two week low of $1.76 and a fifty-two week high of $13.17.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its earnings results on Wednesday, November 6th. The company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $38.05 million. As a group, equities analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.34 earnings per share 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.