By otakuyassine3@gmail.com 
Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT – Get Free Report) was the recipient of a large decline in short interest during the month of 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 trading volume of 1,990,000 shares, the days-to-cover ratio is presently 11.8 days.
Analysts Set New Price Targets
Several equities research analysts have commented on the stock. Jefferies Financial Group began coverage on shares of Arcutis Biotherapeutics in a report on Wednesday, August 28th. They set a “buy” rating and a $15.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and issued a $18.00 price target on shares of Arcutis Biotherapeutics in a report on Thursday, November 7th.
Read Our Latest Stock Analysis on ARQT
Arcutis Biotherapeutics Stock Performance
NASDAQ ARQT opened at $12.69 on Monday. The company has a market capitalization of $1.49 billion, a P/E ratio of -7.09 and a beta of 1.32. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46. Arcutis Biotherapeutics has a 52-week low of $2.28 and a 52-week high of $13.50. The company has a fifty day moving average of $10.30 and a 200-day moving average of $9.80.
Arcutis Biotherapeutics (NASDAQ:ARQT – Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.33) earnings per share for the quarter, topping 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 firm had revenue of $44.76 million during the quarter, compared to analyst estimates of $38.05 million. As a group, equities research analysts predict that Arcutis Biotherapeutics will post -1.34 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, SVP Larry Todd Edwards sold 3,725 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $10.01, for a total transaction of $37,287.25. Following the transaction, the senior vice president now directly owns 136,635 shares in the company, valued at approximately $1,367,716.35. The trade was a 2.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Howard G. Welgus sold 10,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $12.51, for a total value of $125,100.00. Following the completion of the transaction, the director now owns 161,944 shares of the company’s stock, valued at $2,025,919.44. This trade represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,951 shares of company stock valued at $770,144 in the last ninety days. 9.50% of the stock is currently owned by insiders.
Institutional Trading of Arcutis Biotherapeutics
Several institutional investors have recently added to or reduced their stakes in ARQT. Point72 DIFC Ltd bought a new stake in shares of Arcutis Biotherapeutics in the 3rd quarter valued at about $25,000. CWM LLC lifted its position in Arcutis Biotherapeutics by 6,740.0% in the second quarter. CWM LLC now owns 4,104 shares of the company’s stock valued at $38,000 after purchasing an additional 4,044 shares during the last quarter. Algert Global LLC purchased a new stake in shares of Arcutis Biotherapeutics during the second quarter valued at approximately $97,000. Erste Asset Management GmbH bought a new position in shares of Arcutis Biotherapeutics in the third quarter worth approximately $104,000. Finally, Victory Capital Management Inc. increased its stake in shares of Arcutis Biotherapeutics by 9.9% in the third quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock worth $119,000 after buying an additional 1,155 shares during the period.
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.
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