During the recent session, Arcutis Biotherapeutics Inc (NASDAQ:ARQT)’s traded shares were 1.11 million, with the beta value of the company hitting 1.12. At the last check today, the stock’s price was $11.56, reflecting an intraday gain of 7.53% or $0.81. The 52-week high for the ARQT share is $15.40, that puts it down -33.22 from that peak though still a striking 84.78% gain since the share price plummeted to a 52-week low of $1.76. The company’s market capitalization is $1.33B, and the average intraday trading volume over the past 10 days was 3.04 million shares, and the average trade volume was 4.79 million shares over the past three months.
Arcutis Biotherapeutics Inc (NASDAQ:ARQT) trade information
Arcutis Biotherapeutics Inc (ARQT) registered a 7.53% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 7.53% in intraday trading to $11.56, hitting a weekly high. The stock’s 5-day price performance is 16.65%, and it has moved by 10.73% in 30 days. Based on these gigs, the overall price performance for the year is 7.24%. The short interest in Arcutis Biotherapeutics Inc (NASDAQ:ARQT) is 14.99 million shares and it means that shorts have 2.71 day(s) to cover.
Arcutis Biotherapeutics Inc (ARQT) estimates and forecasts
Statistics show that Arcutis Biotherapeutics Inc has outperformed its competitors in share price, compared to the industry in which it operates. Arcutis Biotherapeutics Inc (ARQT) shares have gone up 156.89% during the last six months, with a year-to-date growth rate more than the industry average at 34.13% against 13.50. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 43.50% this quarter and then jump 40.50% in the quarter after that. In the rating firms’ projections, revenue will increase 76.60% compared to the previous financial year.
Revenue for the current quarter is expected to be $13.94 million as predicted by 5 analyst(s). Meanwhile, a consensus of 5 analyst(s) estimates revenue growth to $21.64 million by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $2.78 million and $5.19 million respectively. In this case, analysts expect current quarter sales to grow by 401.30% and then jump by 317.00% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -48.07%. While earnings are projected to return 34.20% in 2024, the next five years will return 9.80% per annum.
ARQT Dividends
Arcutis Biotherapeutics Inc is due to release its next quarterly earnings between May 07 and May 13. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Arcutis Biotherapeutics Inc (NASDAQ:ARQT)’s Major holders
Arcutis Biotherapeutics Inc insiders own 2.40% of total outstanding shares while institutional holders control 96.04%, with the float percentage being 98.40%. FMR, LLC is the largest shareholder of the company, while 182 institutions own stock in it. As of Jun 29, 2023, the company held over 9.21 million shares (or 14.94% of all shares), a total value of $87.8 million in shares.
The next largest institutional holding, with 8.68 million shares, is of Frazier Life Sciences Management, L.P.’s that is approximately 14.09% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $82.76 million.
Also, the Mutual Funds coming in first place with the largest holdings of Arcutis Biotherapeutics Inc (ARQT) shares are SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and PGIM Jennison Health Sciences Fd. Data provided on Aug 30, 2023 indicates that SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF owns about 4.21 million shares. This amounts to just over 6.83 percent of the company’s overall shares, with a $35.97 million market value. The same data shows that the other fund manager holds slightly less at 1.55 million, or about 2.51% of the stock, which is worth about $13.2 million.
