Short Interest in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Decreases By 6.0%

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) was the target of a significant decline in short interest in November. As of November 30th, there was short interest totalling 23,530,000 shares, a decline of 6.0% from the November 15th total of 25,020,000 shares. Based on an average daily trading volume, of 1,990,000 shares, the days-to-cover ratio is presently 11.8 days.

Arcutis Biotherapeutics Trading Up 9.5 %

ARQT opened at $14.86 on Wednesday. Arcutis Biotherapeutics has a 12-month low of $2.28 and a 12-month high of $15.02. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38. The stock has a market capitalization of $1.74 billion, a PE ratio of -8.30 and a beta of 1.32. The firm’s fifty day moving average price is $10.37 and its 200 day moving average price is $9.83.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.09. The business had revenue of $44.76 million for the quarter, compared to analysts’ expectations of $38.05 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. As a group, research analysts expect that Arcutis Biotherapeutics will post -1.34 EPS for the current fiscal year.

Insider Transactions at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, Director Howard G. Welgus sold 10,000 shares of Arcutis Biotherapeutics stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $12.51, for a total value of $125,100.00. Following the completion of the sale, the director now owns 161,944 shares in the company, valued at $2,025,919.44. The trade was a 5.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO David Joseph Topper sold 11,626 shares of the stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $9.48, for a total transaction of $110,214.48. Following the transaction, the chief financial officer now owns 158,374 shares in the company, valued at approximately $1,501,385.52. The trade was a 6.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,951 shares of company stock worth $770,144 over the last ninety days. 9.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Point72 DIFC Ltd bought a new stake in Arcutis Biotherapeutics during the third quarter valued at $25,000. CWM LLC grew its position in shares of Arcutis Biotherapeutics by 6,740.0% during the 2nd quarter. CWM LLC now owns 4,104 shares of the company’s stock valued at $38,000 after buying an additional 4,044 shares during the last quarter. Algert Global LLC bought a new position in Arcutis Biotherapeutics in the second quarter worth about $97,000. Erste Asset Management GmbH acquired a new position in Arcutis Biotherapeutics in the third quarter valued at approximately $104,000. Finally, Victory Capital Management Inc. grew its holdings in shares of Arcutis Biotherapeutics by 9.9% during the third quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock valued at $119,000 after purchasing an additional 1,155 shares during the last quarter.

Analyst Ratings Changes

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

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.