Ally Bridge Group NY LLC Invests $4.40 Million in Arcutis Biotherapeutics, Inc. $ARQT

Core Insights - Ally Bridge Group NY LLC has acquired a new position in Arcutis Biotherapeutics, purchasing 233,220 shares valued at approximately $4.396 million, representing about 2.7% of its total holdings, making it the 13th largest position in their portfolio [2] - Several institutional investors have also increased their stakes in Arcutis Biotherapeutics, with notable increases from Jones Financial Companies Lllp (1,291.1% increase) and PNC Financial Services Group Inc. (10.2% increase) [3] - Insiders have sold a total of 175,233 shares worth $4.537 million over the last 90 days, with 9.40% of the stock currently owned by corporate insiders [4] Financial Performance - Arcutis Biotherapeutics reported earnings of $0.13 per share for the last quarter, exceeding the consensus estimate of $0.03 by $0.10, with revenues of $129.5 million, surpassing analyst expectations of $110.79 million [6] - The company has a market capitalization of $2.82 billion, a P/E ratio of -162.49, and a debt-to-equity ratio of 0.57 [5] Analyst Ratings - Analysts have issued positive ratings for Arcutis Biotherapeutics, with target prices raised by TD Cowen ($30 to $35), HC Wainwright ($30 to $34), and Needham & Company LLC ($31 to $36), all maintaining a "buy" rating [7] - The average rating for the stock is "Moderate Buy" with a consensus price target of $34.00 [7] Company Overview - Arcutis Biotherapeutics is a clinical-stage biopharmaceutical company focused on developing therapies for immuno-inflammatory skin diseases, employing a precision-medicine approach to improve treatment efficacy and tolerability [8]