Suvretta Capital Management LLC has recently announced that it has increased stake in Arcutis Biotherapeutics Inc (NASDAQ:ARQT) by 744.96%. After grabbing 9.59 million shares, the institutional investor is now in possession of 8.46 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 10.19% having worth around $21.58 million. Moreover, Jennison Associates LLC increased its share by 4.49 million to have a control over 8.92 million shares. And Polar Capital LLP raised its holdings to 4.0 million shares by acquiring 7.12 million shares or 7.56% of the stake.
Arcutis Biotherapeutics Inc (ARQT) concluded trading on 12/14/23 at a closing price of $2.54, with 5.09 million shares of worth about $12.94 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -75.15% during that period and on Thursday the price saw a gain of about 6.72%. Currently the company’s common shares owned by public are about 94.38M shares, out of which, 77.25M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 60 times over the past 12 months. They bought 434,638 shares in 24 of the transactions. In 36 selling transactions, insiders dumped 64,539 shares.
Polar Capital Funds Plc – Biotech, SPDR S&P Biotech ETF, and Vanguard Total Stock Market ETF are the top 3 mutual funds which are holding stakes in Arcutis Biotherapeutics Inc Polar Capital Funds Plc – Biotech is currently holding 6.28 million shares of worth totaling $14.13 million. The company recently came buying 3.53 million shares which brought its stake up to 6.67% of the company’s outstanding shares. SPDR S&P Biotech ETF bought 21717.0 shares, after which its hold over company’s outstanding shares expand to 3.86%, leaving 3.63 million shares with the mutual fund that have a worth of about $8.17 million. Vanguard Total Stock Market ETF, after buying 2.5 million shares, have now control over 2.66% of the stake in the company. It holds 0.96 million shares of worth $5.63 million.
However, the stock later moved at a day high price of 2.6200, or with a gain of 6.72%. Stock saw a price change of 15.45% in past 5 days and over the past one month there was a price change of 16.51%. Year-to-date (YTD), ARQT shares are showing a performance of -82.84% which decreased to -85.11% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $1.76 but also hit the highest price of $17.57 during that period. The average intraday trading volume for Arcutis Biotherapeutics Inc shares is 2.64 million. The stock is currently trading 24.13% above its 20-day simple moving average (SMA20), while that difference is down -3.10% for SMA50 and it goes to -69.09% lower than SMA200.
Suvretta Capital Management LLC acquired 9.59 million shares of Arcutis Biotherapeutics Inc having value of about $21.58 million. Data submitted at the U.S SEC by Suvretta Capital Management LLC revealed that the firm now holds 8.46 million shares in the company valued at close to $21480741.9, or have control over 744.96% stake in the company. Arcutis Biotherapeutics Inc (NASDAQ: ARQT) currently have 94.38M outstanding shares and institutions hold larger chunk of about 70.23% of that. Holding of mutual funds in the company is about 34.09% while other institutional holders and individual stake holders have control over 36.32% and 17.44% of the stake respectively.
The stock has a current market capitalization of $239.73M and its 3Y-monthly beta is at 0.81. It has posted earnings per share of -$5.65 in the same period. It has Quick Ratio of 6.39 while making debt-to-equity ratio of 4.39. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ARQT, volatility over the week remained 10.79% while standing at 12.22% over the month.
Analysts are in expectations that Arcutis Biotherapeutics Inc (ARQT) stock would likely to be making an EPS of $Arcturus Therapeutics Holdings in the current quarter, while forecast for next quarter EPS is $28.04 and it is $Stocks for next year. For the current quarter EPS, analysts have given the company a lowest target $Global X MSCI Argentina ETF which is $Arqit Quantum Inc. at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $ARAX HLDGS CORP in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 34.35% while it is estimated to increase by 27.76% in next year. EPS is likely to grow at an annualized rate of 9.80% for next 5-years, compared to annual growth of -110.36% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Mizuho on October 26, 2023 offering a Neutral rating for the stock and assigned a target price range of between $57 and $4 to it.
