Short Interest in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Increases By 28.5%

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQTGet Free Report) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 19,260,000 shares, a growth of 28.5% from the March 15th total of 14,990,000 shares. Based on an average daily trading volume, of 4,760,000 shares, the days-to-cover ratio is currently 4.0 days.

Analysts Set New Price Targets

ARQT has been the subject of several research analyst reports. Mizuho reiterated a “buy” rating and set a $16.00 target price (up from $8.00) on shares of Arcutis Biotherapeutics in a research note on Friday, February 23rd. Needham & Company LLC reiterated a “buy” rating and set a $16.00 target price on shares of Arcutis Biotherapeutics in a research note on Friday. Finally, The Goldman Sachs Group upped their target price on shares of Arcutis Biotherapeutics from $6.00 to $11.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $26.56.

Check Out Our Latest Stock Analysis on ARQT

Arcutis Biotherapeutics Stock Performance

Shares of ARQT stock opened at $10.20 on Friday. Arcutis Biotherapeutics has a 52-week low of $1.76 and a 52-week high of $15.40. The company has a debt-to-equity ratio of 2.28, a quick ratio of 6.80 and a current ratio of 7.08. The firm has a fifty day moving average of $9.68 and a 200-day moving average of $5.48.

Arcutis Biotherapeutics (NASDAQ:ARQTGet Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.08). Arcutis Biotherapeutics had a negative net margin of 439.79% and a negative return on equity of 294.85%. The business had revenue of $13.53 million during the quarter, compared to analyst estimates of $11.78 million. During the same quarter in the prior year, the company posted ($1.18) EPS. On average, equities research analysts forecast that Arcutis Biotherapeutics will post -2.49 earnings per share for the current year.

Insider Transactions at Arcutis Biotherapeutics

In related news, insider Masaru Matsuda sold 3,760 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 190,424 shares in the company, valued at approximately $2,117,514.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 20.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Arcutis Biotherapeutics by 70.0% in the 4th quarter. Vanguard Group Inc. now owns 4,896,513 shares of the company’s stock worth $15,816,000 after purchasing an additional 2,017,053 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Arcutis Biotherapeutics by 120.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 733,002 shares of the company’s stock worth $2,368,000 after purchasing an additional 399,992 shares during the last quarter. American International Group Inc. grew its holdings in Arcutis Biotherapeutics by 53.2% during the 4th quarter. American International Group Inc. now owns 39,311 shares of the company’s stock worth $127,000 after acquiring an additional 13,651 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Arcutis Biotherapeutics by 100.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 46,072 shares of the company’s stock worth $149,000 after acquiring an additional 23,125 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new stake in Arcutis Biotherapeutics during the 4th quarter worth about $242,000.

Arcutis Biotherapeutics Company Profile

(Get 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.

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