GSA Capital Partners LLP Increases Holdings in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

GSA Capital Partners LLP grew its position in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 730.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 237,174 shares of the company’s stock after acquiring an additional 208,599 shares during the quarter. GSA Capital Partners LLP’s holdings in Arcutis Biotherapeutics were worth $2,206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in Arcutis Biotherapeutics during the first quarter valued at $469,000. Susquehanna Fundamental Investments LLC purchased a new stake in Arcutis Biotherapeutics during the 1st quarter valued at approximately $1,194,000. ProShare Advisors LLC raised its position in shares of Arcutis Biotherapeutics by 9.8% during the first quarter. ProShare Advisors LLC now owns 20,990 shares of the company’s stock valued at $208,000 after buying an additional 1,870 shares during the last quarter. Koshinski Asset Management Inc. purchased a new position in shares of Arcutis Biotherapeutics in the first quarter worth $198,000. Finally, Vanguard Group Inc. boosted its position in shares of Arcutis Biotherapeutics by 5.5% during the first quarter. Vanguard Group Inc. now owns 5,166,417 shares of the company’s stock worth $51,199,000 after acquiring an additional 269,904 shares during the last quarter.

Arcutis Biotherapeutics Stock Performance

Arcutis Biotherapeutics stock opened at $10.84 on Tuesday. The company’s 50-day moving average price is $9.67 and its 200-day moving average price is $9.33. The company has a quick ratio of 8.19, a current ratio of 2.46 and a debt-to-equity ratio of 0.67. The company has a market cap of $1.27 billion, a PE ratio of -6.06 and a beta of 1.18. Arcutis Biotherapeutics, Inc. has a twelve month low of $1.76 and a twelve month high of $13.17.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.09. The business had revenue of $44.76 million for the quarter, compared to the consensus estimate of $38.05 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. On average, equities research analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.37 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on ARQT. Jefferies Financial Group started coverage on shares of Arcutis Biotherapeutics in a report on Wednesday, August 28th. They set a “buy” rating and a $15.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 target price on shares of Arcutis Biotherapeutics in a research report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $14.40.

Insider Buying and Selling

In related news, CFO David Joseph Topper sold 11,626 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $9.48, for a total transaction of $110,214.48. Following the transaction, the chief financial officer now directly owns 158,374 shares in the company, valued at approximately $1,501,385.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO David Joseph Topper sold 11,626 shares of the business’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $9.48, for a total transaction of $110,214.48. Following the completion of the transaction, the chief financial officer now owns 158,374 shares in the company, valued at $1,501,385.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Masaru Matsuda sold 5,015 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $8.68, for a total value of $43,530.20. Following the completion of the sale, the insider now owns 178,273 shares in the company, valued at approximately $1,547,409.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,094 shares of company stock worth $492,157 over the last three months. 9.50% of the stock is owned by 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.