A share of Arcutis Biotherapeutics Inc (NASDAQ:ARQT) closed at $2.04 per share on Friday, up from $1.95 day before. While Arcutis Biotherapeutics Inc has overperformed by 4.62%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, ARQT fell by -89.39%, with highs and lows ranging from $19.20 to $1.80, whereas the simple moving average fell by -78.56% in the last 200 days.
On October 26, 2023, Mizuho Downgraded Arcutis Biotherapeutics Inc (NASDAQ: ARQT) to Neutral.
Analysis of Arcutis Biotherapeutics Inc (ARQT)
Arcutis Biotherapeutics Inc’s future performance can be predicted by a variety of well-rounded types of analysis and research, with equity being one of the most crucial ones. The goal here is to ensure that your current return on equity of -122.80% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 6.39, 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.
For any stock, average volume can be an extremely valuable indicator of volatility, and ARQT is registering an average volume of 2.13M. On a monthly basis, the volatility of the stock is set at 10.55%, whereas on a weekly basis, it is put at 11.55%, with a gain of 7.09% over the past seven days. Furthermore, long-term investors anticipate a median target price of $15.86, showing growth from the present price of $2.04, 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?
Besides checking the fundamentals, you should also know how many employees own shares in the company. 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 18.13%. 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 70.40% 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. Suvretta Capital Management LLC’s position in ARQT has increased by 744.96% in the first quarter. The company now owns 9,592,212 shares of the stock, with a value of $21.58 million, following the purchase of 8,456,985 additional shares during the last quarter. Jennison Associates LLC made another increased to its shares in ARQT during the first quarter, upping its stake by 101.20%. During the last quarter, the company picked up 4,485,221 additional shares for a total stake of worth $20.06 million, bringing number of shares owned by the company to 8,917,396.
During the first quarter, Polar Capital LLP added a 4,000,000 position in ARQT. Rubric Capital Management LP purchased an additional 0.15 million shares in the last quarter, increasing its holdings by 3.07%, now holding 5.03 million shares worth $11.33 million. At the end of the first quarter, SSgA Funds Management, Inc. decreased its ARQT holdings by -16.56% and now holds 4.36 million ARQT shares valued at $9.81 million with the lessened -0.87 million shares during the period. ARQT shares are owned by institutional investors to the tune of 70.40% at present.