In Tuesday’s session, Arcutis Biotherapeutics Inc. (NASDAQ:ARQT) marked $16.04 per share, down from $16.32 in the previous session. While Arcutis Biotherapeutics Inc. has underperformed by -1.72%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, ARQT rose by 4.16%, with highs and lows ranging from $27.40 to $12.81, whereas the simple moving average fell by -19.14% in the last 200 days.
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On September 07, 2022, Needham started tracking Arcutis Biotherapeutics Inc. (NASDAQ: ARQT) recommending Buy. A report published by Goldman on March 17, 2022, Initiated its previous ‘Buy’ rating for ARQT. Mizuho also rated ARQT shares as ‘Buy’, setting a target price of $58 on the company’s shares in an initiating report dated June 30, 2021. Goldman November 09, 2020d its ‘Neutral’ rating to ‘Buy’ for ARQT, as published in its report on November 09, 2020. Truist’s report from October 08, 2020 suggests a price prediction of $38 for ARQT shares, giving the stock a ‘Buy’ rating. Guggenheim also rated the stock as ‘Buy’.
Analysis of Arcutis Biotherapeutics Inc. (ARQT)
Arcutis Biotherapeutics Inc.’s future performance can be determined with the help of several well-rounded types of analysis and research techniques, with equity being one of the most influential. The goal here is to ensure that your current return on equity of -122.20% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 13.30, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
The average volume for any stock is also a very valuable indicator of volatility, and ARQT has an average volume of 823.31K. On a monthly basis, the volatility of the stock is set at 6.26%, whereas on a weekly basis, it is put at 6.88%, with a gain of 9.34% over the past seven days. Furthermore, long-term investors anticipate a median target price of $55.33, showing growth from the present price of $16.04, which can serve as yet another indication of whether ARQT is worth investing in or should be passed over.
How Do You Analyze Arcutis Biotherapeutics Inc. Shares?
In addition to analyzing the fundamentals, it is also important to look at how many company employees own stock. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 1.40%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 98.40% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in ARQT shares?
The recent increase in stakes in ARQT appears to be a result of several institutional investors and hedge funds increasing their positions. Fidelity Management & Research Co’s position in ARQT has increased by 14.44% in the first quarter. The company now owns 8,501,050 shares of the stock, with a value of $125.82 million, following the purchase of 1,072,451 additional shares during the last quarter. Point72 Asset Management LP made another increased to its shares in ARQT during the first quarter, upping its stake by 90.35%. During the last quarter, the company picked up 1,796,649 additional shares for a total stake of worth $56.02 million, bringing number of shares owned by the company to 3,785,277.
During the first quarter, BlackRock Fund Advisors added a 448,180 position in ARQT. SSgA Funds Management, Inc. purchased an additional 1.26 million shares in the last quarter, increasing its holdings by 90.15%, now holding 2.66 million shares worth $39.3 million. At the end of the first quarter, The Vanguard Group, Inc. increased its ARQT holdings by 25.34% and now holds 2.15 million ARQT shares valued at $31.84 million with the added 0.43 million shares during the period. ARQT shares are owned by institutional investors to the tune of 98.40% at present.
