Arcutis Biotherapeutics Sees Unusually High Options Volume (NASDAQ:ARQT)

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) was the recipient of some unusual options trading on Friday. Investors purchased 5,056 call options on the company. This is an increase of 79% compared to the average volume of 2,821 call options.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ:ARQT traded down $0.03 during trading on Friday, hitting $8.56. 1,500,873 shares of the company’s stock were exchanged, compared to its average volume of 4,586,932. The company has a debt-to-equity ratio of 2.28, a current ratio of 7.08 and a quick ratio of 6.80. Arcutis Biotherapeutics has a 52-week low of $1.76 and a 52-week high of $15.21. The business’s 50-day simple moving average is $10.18 and its 200 day simple moving average is $5.76. The company has a market cap of $828.69 million, a price-to-earnings ratio of -2.19 and a beta of 1.14.

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

Insider Activity

In other news, insider Masaru Matsuda sold 3,760 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $11.12, for a total transaction of $41,811.20. Following the completion of the sale, the insider now directly owns 190,424 shares in the company, valued at $2,117,514.88. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 20.70% of the company’s stock.

Hedge Funds Weigh In On Arcutis Biotherapeutics

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. The Goldman Sachs Group increased their target price on Arcutis Biotherapeutics from $6.00 to $11.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. Needham & Company LLC reissued a “buy” rating and issued a $16.00 target price on shares of Arcutis Biotherapeutics in a report on Friday, April 12th. Finally, Mizuho reaffirmed a “buy” rating and issued a $16.00 price objective (up previously from $8.00) on shares of Arcutis Biotherapeutics in a research note on Friday, February 23rd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Arcutis Biotherapeutics 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.