Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT – Get Rating) shares reached a new 52-week low during trading on Wednesday . The company traded as low as $13.22 and last traded at $13.25, with a volume of 676 shares traded. The stock had previously closed at $13.79.
Wall Street Analyst Weigh In
ARQT has been the subject of a number of analyst reports. Jonestrading reaffirmed a “buy” rating and set a $54.00 target price on shares of Arcutis Biotherapeutics in a report on Thursday, September 22nd. Morgan Stanley lifted their target price on shares of Arcutis Biotherapeutics from $49.00 to $51.00 and gave the stock an “overweight” rating in a report on Tuesday, December 13th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Arcutis Biotherapeutics presently has an average rating of “Buy” and a consensus target price of $51.60.
Arcutis Biotherapeutics Stock Up 2.1 %
The company has a market cap of $841.42 million, a price-to-earnings ratio of -2.34 and a beta of 0.49. The company has a current ratio of 13.39, a quick ratio of 13.27 and a debt-to-equity ratio of 0.73. The firm’s fifty day moving average price is $16.52 and its 200-day moving average price is $19.77.
Insider Buying and Selling
In related news, insider Masaru Matsuda sold 1,720 shares of the company’s stock in a transaction on Monday, November 21st. The shares were sold at an average price of $18.19, for a total value of $31,286.80. Following the completion of the transaction, the insider now directly owns 19,535 shares of the company’s stock, valued at approximately $355,341.65. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 5,195 shares of company stock valued at $88,487. Company insiders own 23.00% of the company’s stock.
Institutional Investors Weigh In On Arcutis Biotherapeutics
Several institutional investors and hedge funds have recently added to or reduced their stakes in ARQT. Point72 Hong Kong Ltd lifted its position in Arcutis Biotherapeutics by 102.9% during the 2nd quarter. Point72 Hong Kong Ltd now owns 1,197 shares of the company’s stock worth $26,000 after buying an additional 607 shares in the last quarter. Quantbot Technologies LP bought a new stake in Arcutis Biotherapeutics during the 1st quarter worth about $44,000. Amalgamated Bank bought a new stake in Arcutis Biotherapeutics during the 1st quarter worth about $67,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Arcutis Biotherapeutics by 332.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,892 shares of the company’s stock worth $113,000 after buying an additional 4,530 shares in the last quarter. Finally, Amundi bought a new stake in Arcutis Biotherapeutics during the 2nd quarter worth about $114,000.
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.
- Get a free copy of the StockNews.com research report on Arcutis Biotherapeutics (ARQT)
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