Arcutis Biotherapeutics Target of Unusually Large Options Trading (NASDAQ:ARQT)

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) was the recipient 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 volume of 2,821 call options.

Arcutis Biotherapeutics Trading Down 1.4 %

Shares of ARQT stock opened at $8.47 on Friday. Arcutis Biotherapeutics has a fifty-two week low of $1.76 and a fifty-two week high of $15.21. The stock has a market cap of $820.01 million, a P/E ratio of -2.16 and a beta of 1.14. The business has a fifty day simple moving average of $10.18 and a 200-day simple moving average of $5.76. The company has a quick ratio of 6.80, a current ratio of 7.08 and a debt-to-equity ratio of 2.28.

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

Insider Buying and Selling

In other Arcutis Biotherapeutics 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 completion of the transaction, the insider now owns 190,424 shares in the company, valued at $2,117,514.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 20.70% of the company’s stock.

Institutional Trading of Arcutis Biotherapeutics

A number of large investors have recently made changes to their positions in the stock. Jennison Associates LLC boosted its stake in shares of Arcutis Biotherapeutics by 104.6% during the fourth quarter. Jennison Associates LLC now owns 9,066,082 shares of the company’s stock valued at $29,283,000 after acquiring an additional 4,633,907 shares during the last quarter. Frazier Life Sciences Management L.P. boosted its stake in shares of Arcutis Biotherapeutics by 0.9% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 8,764,232 shares of the company’s stock valued at $28,308,000 after acquiring an additional 80,000 shares during the last quarter. Rubric Capital Management LP boosted its stake in shares of Arcutis Biotherapeutics by 32.0% during the fourth quarter. Rubric Capital Management LP now owns 6,644,530 shares of the company’s stock valued at $21,462,000 after acquiring an additional 1,610,000 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Arcutis Biotherapeutics by 260.2% during the fourth quarter. Franklin Resources Inc. now owns 4,655,544 shares of the company’s stock valued at $15,037,000 after acquiring an additional 3,363,191 shares during the last quarter. Finally, Vestal Point Capital LP acquired a new stake in shares of Arcutis Biotherapeutics during the fourth quarter valued at $8,721,000.

Analyst Ratings Changes

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

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.