Atlas Wealth LLC Takes $138,000 Position in Arcutis Biotherapeutics, Inc. $ARQT

Atlas Wealth LLC purchased a new stake in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 10,000 shares of the company’s stock, valued at approximately $138,000.

A number of other institutional investors have also recently made changes to their positions in the company. Corton Capital Inc. purchased a new position in shares of Arcutis Biotherapeutics during the 2nd quarter valued at $238,000. AlphaQuest LLC lifted its position in shares of Arcutis Biotherapeutics by 101.1% during the 2nd quarter. AlphaQuest LLC now owns 11,921 shares of the company’s stock valued at $167,000 after buying an additional 5,994 shares during the last quarter. Privium Fund Management B.V. lifted its position in shares of Arcutis Biotherapeutics by 5.8% during the 2nd quarter. Privium Fund Management B.V. now owns 344,472 shares of the company’s stock valued at $4,736,000 after buying an additional 18,763 shares during the last quarter. Inspire Investing LLC lifted its position in shares of Arcutis Biotherapeutics by 33.4% during the 2nd quarter. Inspire Investing LLC now owns 28,772 shares of the company’s stock valued at $403,000 after buying an additional 7,202 shares during the last quarter. Finally, Aberdeen Group plc lifted its position in shares of Arcutis Biotherapeutics by 14.9% during the 2nd quarter. Aberdeen Group plc now owns 675,034 shares of the company’s stock valued at $9,464,000 after buying an additional 87,494 shares during the last quarter.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ ARQT opened at $24.01 on Wednesday. The firm has a market capitalization of $2.94 billion, a P/E ratio of -66.69 and a beta of 1.97. The company has a quick ratio of 3.28, a current ratio of 3.50 and a debt-to-equity ratio of 0.68. The stock’s 50-day simple moving average is $19.26 and its two-hundred day simple moving average is $16.13. Arcutis Biotherapeutics, Inc. has a twelve month low of $8.45 and a twelve month high of $27.08.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its earnings results on Tuesday, October 28th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.16. The business had revenue of $99.22 million for the quarter, compared to analyst estimates of $86.69 million. Arcutis Biotherapeutics had a negative return on equity of 29.69% and a negative net margin of 13.94%. As a group, equities analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ARQT shares. Mizuho set a $32.00 price target on Arcutis Biotherapeutics in a research report on Wednesday, October 29th. The Goldman Sachs Group boosted their price objective on Arcutis Biotherapeutics from $19.00 to $29.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of Arcutis Biotherapeutics in a research note on Wednesday, October 29th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Arcutis Biotherapeutics in a research note on Tuesday, October 14th. Finally, Cowen reiterated a “buy” rating on shares of Arcutis Biotherapeutics in a research note on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Arcutis Biotherapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $28.00.

Insiders Place Their Bets

In other Arcutis Biotherapeutics news, insider Masaru Matsuda sold 36,130 shares of the company’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $16.16, for a total value of $583,860.80. Following the transaction, the insider directly owned 161,234 shares in the company, valued at $2,605,541.44. This represents a 18.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Howard G. Welgus sold 10,000 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $18.92, for a total value of $189,200.00. Following the transaction, the director owned 99,744 shares in the company, valued at $1,887,156.48. This trade represents a 9.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 163,798 shares of company stock worth $3,203,361. 9.40% of the stock is owned by corporate insiders.

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.