GSA Capital Partners LLP Makes New Investment in Arcutis Biotherapeutics, Inc. $ARQT

GSA Capital Partners LLP acquired a new stake in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 32,797 shares of the company’s stock, valued at approximately $860,000.

Several other institutional investors and hedge funds have also modified their holdings of ARQT. SBI Securities Co. Ltd. raised its holdings in Arcutis Biotherapeutics by 325.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,089 shares of the company’s stock worth $32,000 after buying an additional 833 shares during the period. Global Retirement Partners LLC acquired a new stake in shares of Arcutis Biotherapeutics during the fourth quarter worth $35,000. EverSource Wealth Advisors LLC lifted its position in Arcutis Biotherapeutics by 124.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the company’s stock valued at $37,000 after acquiring an additional 698 shares in the last quarter. NewEdge Advisors LLC boosted its stake in Arcutis Biotherapeutics by 209.0% in the 4th quarter. NewEdge Advisors LLC now owns 1,545 shares of the company’s stock worth $45,000 after purchasing an additional 1,045 shares during the period. Finally, Truvestments Capital LLC boosted its stake in Arcutis Biotherapeutics by 114.2% in the 4th quarter. Truvestments Capital LLC now owns 3,012 shares of the company’s stock worth $87,000 after purchasing an additional 1,606 shares during the period.

Arcutis Biotherapeutics Trading Up 3.6%

Shares of NASDAQ:ARQT opened at $26.54 on Wednesday. Arcutis Biotherapeutics, Inc. has a 52-week low of $15.10 and a 52-week high of $31.77. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.67 and a current ratio of 2.92. The company has a market capitalization of $3.34 billion, a P/E ratio of 126.39 and a beta of 1.49. The company has a 50-day simple moving average of $26.68 and a 200 day simple moving average of $24.68.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.05. Arcutis Biotherapeutics had a return on equity of 15.05% and a net margin of 6.15%.The firm had revenue of $129.86 million for the quarter, compared to analyst estimates of $118.85 million. Sell-side analysts forecast that Arcutis Biotherapeutics, Inc. will post 0.4 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ARQT. Guggenheim increased their target price on Arcutis Biotherapeutics from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Needham & Company LLC upped their price objective on Arcutis Biotherapeutics from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Wall Street Zen raised Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Morgan Stanley lifted their price objective on shares of Arcutis Biotherapeutics from $34.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Finally, Weiss Ratings raised shares of Arcutis Biotherapeutics from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Thursday, August 6th. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $35.57.

Insider Buying and Selling at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, Director Sue-Jean Lin sold 4,946 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $24.38, for a total transaction of $120,583.48. Following the completion of the sale, the director owned 27,567 shares of the company’s stock, valued at $672,083.46. This trade represents a 15.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Howard G. Welgus sold 4,096 shares of Arcutis Biotherapeutics stock in a transaction on Monday, June 15th. The stock was sold at an average price of $24.41, for a total transaction of $99,983.36. Following the transaction, the director directly owned 38,378 shares of the company’s stock, valued at approximately $936,806.98. This trade represents a 9.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 31,237 shares of company stock worth $803,066 in the last three months. 9.40% of the stock is owned by insiders.

Arcutis Biotherapeutics Company Profile

Arcutis Biotherapeutics is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for immuno-inflammatory skin diseases. The company’s research and development efforts center on targeted treatments that address the underlying biology of conditions such as plaque psoriasis, atopic dermatitis, seborrheic dermatitis and vitiligo. Arcutis employs a precision-medicine approach to deliver topical therapies designed to improve efficacy and tolerability compared with existing treatment options.

In August 2022, Arcutis received U.S.