Squarepoint Ops LLC Has $2.35 Million Holdings in Arcutis Biotherapeutics, Inc. $ARQT

by · The Markets Daily

Squarepoint Ops LLC grew its position in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT – Free Report) by 169.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 167,814 shares of the company’s stock after buying an additional 105,487 shares during the quarter. Squarepoint Ops LLC owned approximately 0.14% of Arcutis Biotherapeutics worth $2,353,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Allostery Investments LP acquired a new stake in shares of Arcutis Biotherapeutics during the first quarter valued at approximately $117,000. PNC Financial Services Group Inc. grew its position in Arcutis Biotherapeutics by 10.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,828 shares of the company’s stock worth $124,000 after purchasing an additional 820 shares in the last quarter. Atlas Wealth LLC acquired a new stake in Arcutis Biotherapeutics during the 2nd quarter valued at $138,000. Quantbot Technologies LP purchased a new stake in shares of Arcutis Biotherapeutics in the second quarter valued at $145,000. Finally, Russell Investments Group Ltd. boosted its position in shares of Arcutis Biotherapeutics by 4,562.5% in the second quarter. Russell Investments Group Ltd. now owns 11,190 shares of the company’s stock worth $157,000 after buying an additional 10,950 shares during the period.

Insider Buying and Selling at Arcutis Biotherapeutics

In related news, insider Larry Todd Edwards sold 29,131 shares of Arcutis Biotherapeutics stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $25.16, for a total value of $732,935.96. Following the completion of the sale, the insider owned 150,193 shares of the company’s stock, valued at approximately $3,778,855.88. The trade was a 16.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Patrick Burnett sold 17,250 shares of the firm’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $24.18, for a total value of $417,105.00. Following the transaction, the insider owned 98,325 shares in the company, valued at approximately $2,377,498.50. This trade represents a 14.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 339,229 shares of company stock worth $8,638,027 in the last ninety days. Company insiders own 9.40% of the company’s stock.

Arcutis Biotherapeutics Trading Down 0.7%

Shares of NASDAQ ARQT opened at $28.34 on Thursday. The stock has a market cap of $3.47 billion, a price-to-earnings ratio of -78.72 and a beta of 1.69. The business has a 50 day simple moving average of $25.75 and a 200 day simple moving average of $19.15. Arcutis Biotherapeutics, Inc. has a 52 week low of $11.13 and a 52 week high of $31.77. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.28 and a current ratio of 3.50.

Arcutis Biotherapeutics (NASDAQ:ARQT – Get Free Report) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.16. The firm had revenue of $99.22 million for the quarter, compared to analyst estimates of $86.69 million. Arcutis Biotherapeutics had a negative net margin of 13.94% and a negative return on equity of 29.69%. On average, research analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Needham & Company LLC upped their price target on Arcutis Biotherapeutics from $22.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, October 28th. Zacks Research upgraded Arcutis Biotherapeutics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 29th. Mizuho increased their price target on shares of Arcutis Biotherapeutics from $32.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, November 28th. Wall Street Zen raised shares of Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $29.00.

View Our Latest Analysis on ARQT

About Arcutis Biotherapeutics

(Free Report)

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.

Further Reading

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