The share price of Arcutis Biotherapeutics Inc. (NASDAQ:ARQT) rose to $11.15 per share on Monday from $11.00. While Arcutis Biotherapeutics Inc. has overperformed by 1.36%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, ARQT fell by -42.11%, with highs and lows ranging from $27.40 to $10.05, whereas the simple moving average fell by -39.44% 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)
To gain a thorough understanding of Arcutis Biotherapeutics Inc.’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. The goal here is to ensure that your current return on equity of -134.00% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 11.40, 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.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and ARQT is recording an average volume of 950.87K. On a monthly basis, the volatility of the stock is set at 6.70%, whereas on a weekly basis, it is put at 5.87%, with a gain of 8.15% over the past seven days. Furthermore, long-term investors anticipate a median target price of $51.11, showing growth from the present price of $11.15, 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?
The number of employees owning shares of the company should also be considered in addition to the fundamentals. 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 2.43% in the first quarter. The company now owns 8,707,352 shares of the stock, with a value of $140.88 million, following the purchase of 206,302 additional shares during the last quarter. SSgA Funds Management, Inc. made another increased to its shares in ARQT during the first quarter, upping its stake by 38.57%. During the last quarter, the company picked up 1,024,150 additional shares for a total stake of worth $59.53 million, bringing number of shares owned by the company to 3,679,385.
During the first quarter, BlackRock Fund Advisors added a 635,126 position in ARQT. Rubric Capital Management LP purchased an additional 2.27 million shares in the last quarter, increasing its holdings by 480.98%, now holding 2.74 million shares worth $44.37 million. At the end of the first quarter, The Vanguard Group, Inc. increased its ARQT holdings by 12.88% and now holds 2.43 million ARQT shares valued at $39.3 million with the added 0.28 million shares during the period. ARQT shares are owned by institutional investors to the tune of 98.40% at present.
