PEAK6 Investments LLC Has $558,000 Position in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

PEAK6 Investments LLC cut its holdings in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 14.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 60,000 shares of the company’s stock after selling 10,000 shares during the quarter. PEAK6 Investments LLC’s holdings in Arcutis Biotherapeutics were worth $558,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. CWM LLC increased its stake 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 last quarter. Algert Global LLC acquired a new position in Arcutis Biotherapeutics during the second quarter valued at approximately $97,000. Victory Capital Management Inc. increased its stake in Arcutis Biotherapeutics by 9.9% in the third quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock valued at $119,000 after purchasing an additional 1,155 shares in the last quarter. Creative Planning acquired a new stake in Arcutis Biotherapeutics in the third quarter worth $127,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Arcutis Biotherapeutics during the second quarter worth $174,000.

Insider Buying and Selling at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, CFO David Joseph Topper sold 11,626 shares of Arcutis Biotherapeutics stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $9.48, for a total value of $110,214.48. Following the transaction, the chief financial officer now owns 158,374 shares in the company, valued at $1,501,385.52. The trade was a 6.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Howard G. Welgus sold 10,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $9.26, for a total transaction of $92,600.00. Following the completion of the transaction, the director now directly owns 181,944 shares of the company’s stock, valued at approximately $1,684,801.44. The trade was a 5.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,951 shares of company stock valued at $770,144 in the last three months. Corporate insiders own 9.50% of the company’s stock.

Arcutis Biotherapeutics Trading Down 1.2 %

ARQT stock opened at $12.27 on Wednesday. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of -6.85 and a beta of 1.32. The company has a fifty day moving average price of $9.82 and a two-hundred day moving average price of $9.61. Arcutis Biotherapeutics, Inc. has a one year low of $1.89 and a one year high of $13.50. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted 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. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. The firm had revenue of $44.76 million during the quarter, compared to the consensus estimate of $38.05 million. Equities analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.34 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ARQT. Jefferies Financial Group initiated coverage on shares of Arcutis Biotherapeutics in a research report on Wednesday, August 28th. They issued a “buy” rating and a $15.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and set a $18.00 target price on shares of Arcutis Biotherapeutics in a research note on Thursday, November 7th.

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.