Atlas Wealth LLC Purchases Shares of 10,000 Arcutis Biotherapeutics, Inc. $ARQT

Atlas Wealth LLC purchased a new stake in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) in the 2nd quarter, HoldingsChannel reports. The firm purchased 10,000 shares of the company’s stock, valued at approximately $138,000.

Several other institutional investors have also added to or reduced their stakes in the business. Paradigm Biocapital Advisors LP bought a new position in Arcutis Biotherapeutics during the 1st quarter worth approximately $22,918,000. Nuveen LLC bought a new position in Arcutis Biotherapeutics during the 1st quarter worth approximately $12,759,000. Woodline Partners LP bought a new position in Arcutis Biotherapeutics during the 1st quarter worth approximately $6,412,000. Vanguard Group Inc. grew its position in Arcutis Biotherapeutics by 5.9% during the 1st quarter. Vanguard Group Inc. now owns 6,818,078 shares of the company’s stock worth $106,635,000 after acquiring an additional 377,363 shares during the last quarter. Finally, Royce & Associates LP bought a new position in Arcutis Biotherapeutics during the 1st quarter worth approximately $4,185,000.

Insider Buying and Selling at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, Director Howard G. Welgus sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $18.92, for a total transaction of $189,200.00. Following the completion of the transaction, the director owned 99,744 shares of the company’s stock, valued at approximately $1,887,156.48. This trade represents a 9.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Todd Watanabe sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 28th. The shares were sold at an average price of $25.03, for a total transaction of $1,001,200.00. Following the transaction, the insider directly owned 806,440 shares of the company’s stock, valued at $20,185,193.20. This represents a 4.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 163,798 shares of company stock valued at $3,203,361. 9.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Arcutis Biotherapeutics in a research report on Tuesday, October 14th. The Goldman Sachs Group raised their price target on Arcutis Biotherapeutics from $19.00 to $29.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Needham & Company LLC lifted their price objective on Arcutis Biotherapeutics from $22.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, October 28th. HC Wainwright reissued a “buy” rating and set a $30.00 target price on shares of Arcutis Biotherapeutics in a research note on Wednesday, October 29th. Finally, Mizuho set a $32.00 price target on Arcutis Biotherapeutics in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

Arcutis Biotherapeutics Stock Performance

Shares of ARQT opened at $24.01 on Wednesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.50 and a quick ratio of 3.28. Arcutis Biotherapeutics, Inc. has a one year low of $8.45 and a one year high of $27.08. The company has a 50-day simple moving average of $19.26 and a two-hundred day simple moving average of $16.13. The firm has a market capitalization of $2.94 billion, a PE ratio of -66.69 and a beta of 1.97.

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

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.