XTX Topco Ltd Acquires 11,262 Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

XTX Topco Ltd increased its holdings in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 30.9% during the third quarter, HoldingsChannel reports. The firm owned 47,728 shares of the company’s stock after buying an additional 11,262 shares during the period. XTX Topco Ltd’s holdings in Arcutis Biotherapeutics were worth $444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of ARQT. CWM LLC lifted its holdings in shares of Arcutis Biotherapeutics by 6,740.0% during the second quarter. CWM LLC now owns 4,104 shares of the company’s stock valued at $38,000 after purchasing an additional 4,044 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Arcutis Biotherapeutics by 531.2% in the second quarter. SG Americas Securities LLC now owns 99,161 shares of the company’s stock valued at $922,000 after acquiring an additional 83,452 shares during the period. Bank of New York Mellon Corp lifted its holdings in Arcutis Biotherapeutics by 25.8% in the second quarter. Bank of New York Mellon Corp now owns 390,202 shares of the company’s stock valued at $3,629,000 after acquiring an additional 80,078 shares during the period. Legato Capital Management LLC bought a new position in Arcutis Biotherapeutics in the second quarter valued at about $523,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Arcutis Biotherapeutics in the second quarter valued at about $174,000.

Analysts Set New Price Targets

ARQT has been the topic of a number of recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $18.00 target price on shares of Arcutis Biotherapeutics in a report on Thursday, November 7th. Jefferies Financial Group initiated coverage on Arcutis Biotherapeutics in a report on Wednesday, August 28th. They issued a “buy” rating and a $15.00 target price on the stock.

Arcutis Biotherapeutics Stock Up 3.6 %

NASDAQ ARQT opened at $12.69 on Friday. The stock’s 50-day moving average price is $10.30 and its 200-day moving average price is $9.79. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67. Arcutis Biotherapeutics, Inc. has a 52 week low of $2.28 and a 52 week high of $13.50. The company has a market capitalization of $1.49 billion, a P/E ratio of -7.09 and a beta of 1.32.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.09. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. The firm had revenue of $44.76 million for the quarter, compared to the consensus estimate of $38.05 million. On average, equities research analysts predict that Arcutis Biotherapeutics, Inc. will post -1.34 earnings per share for the current year.

Insider Transactions at Arcutis Biotherapeutics

In related news, CFO David Joseph Topper sold 11,626 shares of the stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $9.48, for a total transaction of $110,214.48. Following the completion of the sale, the chief financial officer now owns 158,374 shares in the company, valued at approximately $1,501,385.52. This trade represents a 6.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Larry Todd Edwards sold 3,725 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $10.01, for a total value of $37,287.25. Following the sale, the senior vice president now owns 136,635 shares of the company’s stock, valued at $1,367,716.35. This represents a 2.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,951 shares of company stock valued at $770,144 over the last quarter. 9.50% of the stock is currently owned by company insiders.

Arcutis Biotherapeutics Company Profile

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.