Stock Traders Buy Large Volume of Arcutis Biotherapeutics Call Options (NASDAQ:ARQT)

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) was the target of unusually large options trading on Friday. Stock investors acquired 5,056 call options on the stock. This is an increase of 79% compared to the typical daily volume of 2,821 call options.

Insider Buying and Selling

In related news, insider Masaru Matsuda sold 3,760 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $11.12, for a total value of $41,811.20. Following the transaction, the insider now directly owns 190,424 shares of the company’s stock, valued at approximately $2,117,514.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 20.70% of the company’s stock.

Institutional Trading of Arcutis Biotherapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Fishman Jay A Ltd. MI increased its position in shares of Arcutis Biotherapeutics by 323.2% during the first quarter. Fishman Jay A Ltd. MI now owns 224,300 shares of the company’s stock worth $2,223,000 after acquiring an additional 171,300 shares during the last quarter. AMI Asset Management Corp purchased a new stake in shares of Arcutis Biotherapeutics during the first quarter worth about $3,421,000. Hennion & Walsh Asset Management Inc. grew its stake in Arcutis Biotherapeutics by 14.4% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 48,997 shares of the company’s stock worth $486,000 after purchasing an additional 6,155 shares in the last quarter. Opaleye Management Inc. acquired a new position in Arcutis Biotherapeutics in the fourth quarter worth about $6,331,000. Finally, Frazier Life Sciences Management L.P. grew its stake in Arcutis Biotherapeutics by 0.9% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 8,764,232 shares of the company’s stock worth $28,308,000 after purchasing an additional 80,000 shares in the last quarter.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Mizuho reaffirmed a “buy” rating and issued a $16.00 target price (up from $8.00) on shares of Arcutis Biotherapeutics in a research report on Friday, February 23rd. Needham & Company LLC reissued a “buy” rating and issued a $16.00 price objective on shares of Arcutis Biotherapeutics in a research report on Friday, April 12th. Finally, The Goldman Sachs Group raised their price objective on Arcutis Biotherapeutics from $6.00 to $11.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.56.

Arcutis Biotherapeutics Trading Down 1.4 %

NASDAQ:ARQT opened at $8.47 on Friday. Arcutis Biotherapeutics has a 12 month low of $1.76 and a 12 month high of $15.21. The firm has a market capitalization of $819.98 million, a PE ratio of -2.16 and a beta of 1.14. The company has a debt-to-equity ratio of 2.28, a current ratio of 7.08 and a quick ratio of 6.80. The business’s 50-day moving average is $10.16 and its two-hundred day moving average is $5.78.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its earnings results on Tuesday, February 27th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.08). Arcutis Biotherapeutics had a negative return on equity of 294.85% and a negative net margin of 439.79%. The business had revenue of $13.53 million for the quarter, compared to analysts’ expectations of $11.78 million. During the same period in the previous year, the firm posted ($1.18) earnings per share. Research analysts predict that Arcutis Biotherapeutics will post -2.49 earnings per share for the current fiscal 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.