Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Sees Large Growth in Short Interest

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQTGet Rating) saw a significant increase in short interest in December. As of December 30th, there was short interest totalling 10,650,000 shares, an increase of 6.8% from the December 15th total of 9,970,000 shares. Currently, 24.7% of the shares of the company are sold short. Based on an average daily volume of 766,300 shares, the days-to-cover ratio is presently 13.9 days.

Arcutis Biotherapeutics Stock Down 1.7 %

Shares of Arcutis Biotherapeutics stock opened at $16.04 on Wednesday. The stock has a 50-day moving average price of $15.93 and a 200 day moving average price of $19.33. The company has a market cap of $977.29 million, a P/E ratio of -2.72 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. Arcutis Biotherapeutics has a 1 year low of $12.81 and a 1 year high of $27.40.

Arcutis Biotherapeutics (NASDAQ:ARQTGet Rating) last issued its earnings results on Tuesday, November 8th. The company reported ($1.89) earnings per share for the quarter, missing the consensus estimate of ($1.54) by ($0.35). The business had revenue of $0.73 million during the quarter, compared to the consensus estimate of $1.01 million. As a group, analysts expect that Arcutis Biotherapeutics will post -5.97 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley upped their price objective on Arcutis Biotherapeutics from $49.00 to $51.00 and gave the company an “overweight” rating in a report on Tuesday, December 13th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $51.60.

Insider Transactions at Arcutis Biotherapeutics

In other news, Director Howard G. Welgus sold 8,500 shares of the stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $13.72, for a total value of $116,620.00. Following the completion of the transaction, the director now owns 165,825 shares of the company’s stock, valued at $2,275,119. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Masaru Matsuda sold 1,720 shares of the company’s stock in a transaction on Monday, November 21st. The stock was sold at an average price of $18.19, for a total value of $31,286.80. Following the completion of the sale, the insider now owns 19,535 shares in the company, valued at $355,341.65. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Howard G. Welgus sold 8,500 shares of the company’s stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $13.72, for a total value of $116,620.00. Following the completion of the sale, the director now owns 165,825 shares of the company’s stock, valued at approximately $2,275,119. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,695 shares of company stock valued at $205,107. 23.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Arcutis Biotherapeutics

Hedge funds have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd lifted its position in shares of Arcutis Biotherapeutics by 102.9% in the 2nd quarter. Point72 Hong Kong Ltd now owns 1,197 shares of the company’s stock worth $26,000 after acquiring an additional 607 shares during the period. Quantbot Technologies LP acquired a new stake in Arcutis Biotherapeutics during the 1st quarter valued at $44,000. Amalgamated Bank acquired a new stake in Arcutis Biotherapeutics during the 1st quarter valued at $67,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Arcutis Biotherapeutics by 332.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,892 shares of the company’s stock valued at $113,000 after buying an additional 4,530 shares during the period. Finally, Amundi acquired a new stake in shares of Arcutis Biotherapeutics in the 2nd quarter valued at $114,000.

Arcutis Biotherapeutics Company Profile

(Get Rating)

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.

Further Reading

Receive News & Ratings for Arcutis Biotherapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arcutis Biotherapeutics and related companies with MarketBeat.com's FREE daily email newsletter.