Short Interest in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Rises By 9.1%

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) was the recipient of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 27,130,000 shares, an increase of 9.1% from the September 15th total of 24,860,000 shares. Based on an average daily volume of 2,140,000 shares, the short-interest ratio is presently 12.7 days.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group started coverage on shares of Arcutis Biotherapeutics in a research report on Wednesday, August 28th. They set a “buy” rating and a $15.00 price objective for the company. Needham & Company LLC restated a “buy” rating and set a $18.00 price target on shares of Arcutis Biotherapeutics in a research report on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $13.33.

Insider Buying and Selling

In other Arcutis Biotherapeutics news, CFO David Joseph Topper sold 11,626 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $9.48, for a total value of $110,214.48. Following the transaction, the chief financial officer now directly 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 document filed with the SEC, which is available through the SEC website. In other Arcutis Biotherapeutics news, CFO David Joseph Topper sold 11,626 shares of Arcutis Biotherapeutics stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $9.48, for a total value of $110,214.48. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Howard G. Welgus sold 10,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $9.87, for a total value of $98,700.00. Following the transaction, the director now owns 176,953 shares of the company’s stock, valued at approximately $1,746,526.11. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,299 shares of company stock worth $507,911. Insiders own 9.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ARQT. CWM LLC increased its holdings in shares of Arcutis Biotherapeutics by 6,740.0% in the 2nd quarter. CWM LLC now owns 4,104 shares of the company’s stock valued at $38,000 after acquiring an additional 4,044 shares during the period. Ameritas Investment Partners Inc. grew its holdings in shares of Arcutis Biotherapeutics by 55.2% during the first quarter. Ameritas Investment Partners Inc. now owns 7,871 shares of the company’s stock worth $78,000 after buying an additional 2,800 shares during the last quarter. Algert Global LLC acquired a new position in Arcutis Biotherapeutics in the 2nd quarter valued at about $97,000. Creative Planning purchased a new stake in Arcutis Biotherapeutics during the 3rd quarter valued at approximately $127,000. Finally, China Universal Asset Management Co. Ltd. lifted its position in Arcutis Biotherapeutics by 70.5% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 18,614 shares of the company’s stock worth $184,000 after acquiring an additional 7,694 shares during the period.

Arcutis Biotherapeutics Stock Down 0.5 %

Shares of NASDAQ ARQT opened at $9.74 on Tuesday. The stock has a market cap of $1.13 billion, a P/E ratio of -3.32 and a beta of 1.17. The business’s fifty day simple moving average is $9.84 and its 200-day simple moving average is $9.49. Arcutis Biotherapeutics has a 12-month low of $1.76 and a 12-month high of $13.17. The company has a current ratio of 8.46, a quick ratio of 8.19 and a debt-to-equity ratio of 1.09.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.06. Arcutis Biotherapeutics had a negative return on equity of 145.41% and a negative net margin of 150.51%. The business had revenue of $30.86 million during the quarter, compared to analysts’ expectations of $31.00 million. During the same period in the prior year, the firm posted ($1.16) EPS. As a group, equities analysts predict that Arcutis Biotherapeutics will post -1.56 EPS for the current fiscal year.

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.