Allostery Investments LP Makes New $117,000 Investment in Arcutis Biotherapeutics, Inc. $ARQT

Allostery Investments LP acquired a new position in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) during the 1st quarter, HoldingsChannel.com reports. The firm acquired 7,500 shares of the company’s stock, valued at approximately $117,000.

Several other large investors have also recently bought and sold shares of ARQT. GF Fund Management CO. LTD. acquired a new position in Arcutis Biotherapeutics during the 4th quarter worth $34,000. Amalgamated Bank lifted its holdings in Arcutis Biotherapeutics by 39.4% during the 1st quarter. Amalgamated Bank now owns 3,723 shares of the company’s stock worth $58,000 after buying an additional 1,053 shares in the last quarter. KBC Group NV acquired a new position in Arcutis Biotherapeutics during the 1st quarter worth $84,000. Nkcfo LLC acquired a new position in shares of Arcutis Biotherapeutics in the 1st quarter valued at $109,000. Finally, Baader Bank Aktiengesellschaft acquired a new position in shares of Arcutis Biotherapeutics in the 1st quarter valued at $156,000.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ARQT. Cowen reissued a “buy” rating on shares of Arcutis Biotherapeutics in a research note on Thursday, August 7th. Wall Street Zen raised Arcutis Biotherapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. The Goldman Sachs Group began coverage on Arcutis Biotherapeutics in a research note on Friday, July 25th. They issued a “neutral” rating and a $18.00 price target on the stock. Finally, Needham & Company LLC increased their price target on Arcutis Biotherapeutics from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Arcutis Biotherapeutics has an average rating of “Moderate Buy” and a consensus price target of $19.80.

Arcutis Biotherapeutics Price Performance

ARQT opened at $15.32 on Wednesday. The company has a quick ratio of 3.04, a current ratio of 3.20 and a debt-to-equity ratio of 0.77. Arcutis Biotherapeutics, Inc. has a 12 month low of $8.03 and a 12 month high of $17.75. The company has a fifty day simple moving average of $14.96 and a 200 day simple moving average of $14.47. The stock has a market cap of $1.84 billion, a P/E ratio of -20.43 and a beta of 1.93.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.05. Arcutis Biotherapeutics had a negative net margin of 35.40% and a negative return on equity of 62.62%. The business had revenue of $81.50 million during the quarter, compared to analysts’ expectations of $72.70 million. On average, research analysts expect that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

Insider Activity

In other Arcutis Biotherapeutics news, insider Todd Watanabe sold 11,547 shares of the stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $14.33, for a total transaction of $165,468.51. Following the completion of the transaction, the insider owned 901,569 shares in the company, valued at approximately $12,919,483.77. This represents a 1.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Howard G. Welgus sold 10,139 shares of the stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $13.37, for a total value of $135,558.43. Following the transaction, the director owned 109,414 shares of the company’s stock, valued at approximately $1,462,865.18. This trade represents a 8.48% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 77,512 shares of company stock worth $1,126,600. 9.40% of the stock is currently owned by insiders.

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.