Ieq Capital LLC Acquires Shares of 22,082 Arcutis Biotherapeutics, Inc. $ARQT

Ieq Capital LLC acquired a new stake in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 22,082 shares of the company’s stock, valued at approximately $345,000.

Other hedge funds have also recently bought and sold shares of the company. Virtus Advisers LLC lifted its holdings in Arcutis Biotherapeutics by 100.0% during the 1st quarter. Virtus Advisers LLC now owns 11,606 shares of the company’s stock worth $182,000 after buying an additional 5,803 shares during the last quarter. Jump Financial LLC grew its position in shares of Arcutis Biotherapeutics by 177.7% in the 1st quarter. Jump Financial LLC now owns 42,000 shares of the company’s stock worth $657,000 after acquiring an additional 26,874 shares in the last quarter. Algert Global LLC grew its position in shares of Arcutis Biotherapeutics by 49.6% in the 1st quarter. Algert Global LLC now owns 120,880 shares of the company’s stock worth $1,891,000 after acquiring an additional 40,090 shares in the last quarter. Tocqueville Asset Management L.P. lifted its stake in Arcutis Biotherapeutics by 14.1% during the first quarter. Tocqueville Asset Management L.P. now owns 16,200 shares of the company’s stock worth $253,000 after purchasing an additional 2,000 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in Arcutis Biotherapeutics by 1.3% during the first quarter. American Century Companies Inc. now owns 1,652,492 shares of the company’s stock worth $25,845,000 after purchasing an additional 21,266 shares during the last quarter.

Arcutis Biotherapeutics Trading Up 5.8%

Shares of NASDAQ ARQT opened at $17.15 on Friday. The company has a market cap of $2.06 billion, a price-to-earnings ratio of -22.87 and a beta of 1.93. Arcutis Biotherapeutics, Inc. has a 12-month low of $8.03 and a 12-month high of $17.75. The company has a current ratio of 3.20, a quick ratio of 3.04 and a debt-to-equity ratio of 0.77. The stock’s 50 day simple moving average is $15.09 and its 200 day simple moving average is $14.54.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.05. The business had revenue of $81.50 million for the quarter, compared to the consensus estimate of $72.70 million. Arcutis Biotherapeutics had a negative return on equity of 62.62% and a negative net margin of 35.40%. Equities research analysts expect that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

Wall Street Analyst Weigh In

ARQT has been the topic of several research analyst reports. The Goldman Sachs Group initiated coverage on Arcutis Biotherapeutics in a research note on Friday, July 25th. They set a “neutral” rating and a $18.00 price objective on the stock. Wall Street Zen upgraded Arcutis Biotherapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Cowen restated a “buy” rating on shares of Arcutis Biotherapeutics in a research note on Thursday, August 7th. Finally, Needham & Company LLC raised their price objective on Arcutis Biotherapeutics from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Arcutis Biotherapeutics currently has an average rating of “Moderate Buy” and an average target price of $19.80.

Insiders Place Their Bets

In other Arcutis Biotherapeutics news, insider Masaru Matsuda sold 6,330 shares of Arcutis Biotherapeutics stock in a transaction on Monday, August 4th. The stock was sold at an average price of $14.33, for a total transaction of $90,708.90. Following the sale, the insider owned 197,364 shares of the company’s stock, valued at $2,828,226.12. The trade was a 3.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Todd Watanabe sold 11,547 shares of Arcutis Biotherapeutics stock in a transaction on Monday, August 4th. The shares were sold at an average price of $14.33, for a total value of $165,468.51. Following the sale, the insider directly owned 901,569 shares in the company, valued at $12,919,483.77. The trade was a 1.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold 87,512 shares of company stock worth $1,283,000 over the last 90 days. Insiders own 9.40% of the company’s 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.