Arcutis Biotherapeutics, Inc. $ARQT Shares Sold by XTX Topco Ltd

XTX Topco Ltd reduced its position in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 49.0% during the second quarter, HoldingsChannel reports. The firm owned 37,555 shares of the company’s stock after selling 36,121 shares during the quarter. XTX Topco Ltd’s holdings in Arcutis Biotherapeutics were worth $527,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Triumph Capital Management purchased a new stake in shares of Arcutis Biotherapeutics during the second quarter worth about $410,000. Invst LLC acquired a new stake in Arcutis Biotherapeutics during the 1st quarter valued at approximately $323,000. Ieq Capital LLC acquired a new stake in Arcutis Biotherapeutics during the 1st quarter valued at approximately $345,000. Fred Alger Management LLC purchased a new stake in Arcutis Biotherapeutics during the 1st quarter worth approximately $568,000. Finally, Corton Capital Inc. acquired a new position in shares of Arcutis Biotherapeutics in the 2nd quarter valued at approximately $238,000.

Insider Activity

In related news, insider Masaru Matsuda sold 1,657 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $30.23, for a total value of $50,091.11. Following the sale, the insider owned 150,641 shares of the company’s stock, valued at approximately $4,553,877.43. This trade represents a 1.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Halley E. Gilbert sold 16,532 shares of the company’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $27.55, for a total value of $455,456.60. Following the transaction, the director owned 22,123 shares of the company’s stock, valued at approximately $609,488.65. The trade was a 42.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 337,858 shares of company stock valued at $8,482,870 over the last quarter. Corporate insiders own 9.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. The Goldman Sachs Group increased their target price on Arcutis Biotherapeutics from $19.00 to $29.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Mizuho upped their price target on shares of Arcutis Biotherapeutics from $32.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, November 28th. Needham & Company LLC raised their price objective on shares of Arcutis Biotherapeutics from $22.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, October 28th. HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of Arcutis Biotherapeutics in a research report on Wednesday, October 29th. Finally, Zacks Research upgraded shares of Arcutis Biotherapeutics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $29.00.

Arcutis Biotherapeutics Stock Performance

Arcutis Biotherapeutics stock opened at $31.16 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.50 and a quick ratio of 3.28. Arcutis Biotherapeutics, Inc. has a 12 month low of $11.13 and a 12 month high of $31.39. The company has a fifty day moving average price of $23.98 and a two-hundred day moving average price of $18.13. The company has a market cap of $3.82 billion, a PE ratio of -86.56 and a beta of 1.69.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its earnings results on Tuesday, October 28th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.16. Arcutis Biotherapeutics had a negative net margin of 13.94% and a negative return on equity of 29.69%. The company had revenue of $99.22 million for the quarter, compared to analysts’ expectations of $86.69 million. Research analysts expect that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current year.

About Arcutis Biotherapeutics

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.