GSA Capital Partners LLP Takes Position in Arcutis Biotherapeutics, Inc. $ARQT

GSA Capital Partners LLP bought a new position in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 32,797 shares of the company’s stock, valued at approximately $860,000.

Several other large investors have also made changes to their positions in ARQT. Handelsbanken Fonder AB boosted its holdings in Arcutis Biotherapeutics by 6.1% in the second quarter. Handelsbanken Fonder AB now owns 43,800 shares of the company’s stock valued at $1,148,000 after acquiring an additional 2,500 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in Arcutis Biotherapeutics during the 1st quarter worth about $609,000. Bank of America Corp DE raised its holdings in Arcutis Biotherapeutics by 32.7% during the 1st quarter. Bank of America Corp DE now owns 2,221,289 shares of the company’s stock worth $52,334,000 after purchasing an additional 547,835 shares during the last quarter. Stempoint Capital LP lifted its position in Arcutis Biotherapeutics by 84.1% during the 1st quarter. Stempoint Capital LP now owns 413,792 shares of the company’s stock valued at $9,749,000 after purchasing an additional 189,052 shares during the period. Finally, Janus Henderson Group PLC lifted its position in Arcutis Biotherapeutics by 1.3% during the 1st quarter. Janus Henderson Group PLC now owns 1,854,566 shares of the company’s stock valued at $43,684,000 after purchasing an additional 24,505 shares during the period.

Arcutis Biotherapeutics Price Performance

Shares of ARQT opened at $26.54 on Wednesday. The company has a current ratio of 2.92, a quick ratio of 2.67 and a debt-to-equity ratio of 0.46. Arcutis Biotherapeutics, Inc. has a 1 year low of $15.10 and a 1 year high of $31.77. The stock has a market cap of $3.34 billion, a P/E ratio of 126.39 and a beta of 1.49. The stock’s 50-day moving average price is $26.68 and its two-hundred day moving average price is $24.68.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its earnings results on Wednesday, August 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.05. The company had revenue of $129.86 million during the quarter, compared to analyst estimates of $118.85 million. Arcutis Biotherapeutics had a return on equity of 15.05% and a net margin of 6.15%. On average, equities analysts predict that Arcutis Biotherapeutics, Inc. will post 0.4 earnings per share for the current year.

Insider Buying and Selling at Arcutis Biotherapeutics

In related news, insider Todd Watanabe sold 4,375 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $26.12, for a total transaction of $114,275.00. Following the completion of the transaction, the insider owned 717,203 shares in the company, valued at approximately $18,733,342.36. The trade was a 0.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Howard G. Welgus sold 4,096 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $24.41, for a total transaction of $99,983.36. Following the transaction, the director owned 38,378 shares of the company’s stock, valued at approximately $936,806.98. This represents a 9.64% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 31,237 shares of company stock worth $803,066 over the last ninety days. 9.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ARQT. Morgan Stanley raised their target price on shares of Arcutis Biotherapeutics from $34.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Guggenheim increased their price objective on shares of Arcutis Biotherapeutics from $35.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Needham & Company LLC raised their price objective on shares of Arcutis Biotherapeutics from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Wall Street Zen raised shares of Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Finally, Weiss Ratings raised shares of Arcutis Biotherapeutics from a “sell (d-)” rating to a “hold (c-)” rating in a report on Thursday, August 6th. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.57.

Arcutis Biotherapeutics Company Profile

Arcutis Biotherapeutics is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for immuno-inflammatory skin diseases. The company’s research and development efforts center on targeted treatments that address the underlying biology of conditions such as plaque psoriasis, atopic dermatitis, seborrheic dermatitis and vitiligo. Arcutis employs a precision-medicine approach to deliver topical therapies designed to improve efficacy and tolerability compared with existing treatment options.

In August 2022, Arcutis received U.S.