Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Shares Sold by PEAK6 Investments LLC

PEAK6 Investments LLC lowered its position in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 14.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,000 shares of the company’s stock after selling 10,000 shares during the quarter. PEAK6 Investments LLC owned 0.05% of Arcutis Biotherapeutics worth $558,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. CWM LLC grew its stake in shares of Arcutis Biotherapeutics by 6,740.0% in 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 in the last quarter. Algert Global LLC bought a new stake in shares of Arcutis Biotherapeutics during the 2nd quarter worth $97,000. Victory Capital Management Inc. grew its stake in Arcutis Biotherapeutics by 9.9% in the 3rd quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock valued at $119,000 after buying an additional 1,155 shares during the last quarter. Creative Planning bought a new position in Arcutis Biotherapeutics in the 3rd quarter worth $127,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Arcutis Biotherapeutics during the 2nd quarter worth $174,000.

Insiders Place Their Bets

In other Arcutis Biotherapeutics news, CFO David Joseph Topper sold 11,626 shares of Arcutis Biotherapeutics stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $9.48, for a total transaction of $110,214.48. Following the completion of the transaction, the chief financial officer now directly owns 158,374 shares of the company’s stock, valued at approximately $1,501,385.52. This trade represents a 6.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Howard G. Welgus sold 10,000 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $12.51, for a total transaction 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. This represents a 5.82 % decrease in their position. 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 quarter. Company insiders own 9.50% of the company’s stock.

Arcutis Biotherapeutics Stock Performance

Shares of NASDAQ ARQT opened at $12.27 on Wednesday. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -6.85 and a beta of 1.32. Arcutis Biotherapeutics, Inc. has a one year low of $1.89 and a one year high of $13.50. The business has a fifty day simple moving average of $9.82 and a 200 day simple moving average of $9.61. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.09. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. The company had revenue of $44.76 million during the quarter, compared to analysts’ expectations of $38.05 million. Sell-side analysts expect that Arcutis Biotherapeutics, Inc. will post -1.34 EPS for the current year.

Wall Street Analyst Weigh In

ARQT has been the subject of several research reports. Needham & Company LLC reissued a “buy” rating and issued a $18.00 price objective on shares of Arcutis Biotherapeutics in a research report on Thursday, November 7th. Jefferies Financial Group assumed coverage on shares of Arcutis Biotherapeutics in a research report on Wednesday, August 28th. They issued a “buy” rating and a $15.00 price target on the stock.

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.