Hsbc Holdings PLC Raises Stock Holdings in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Hsbc Holdings PLC boosted its stake in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 36.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,551 shares of the company’s stock after buying an additional 4,719 shares during the quarter. Hsbc Holdings PLC’s holdings in Arcutis Biotherapeutics were worth $248,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Fishman Jay A Ltd. MI boosted its position in shares of Arcutis Biotherapeutics by 28.3% during the 4th quarter. Fishman Jay A Ltd. MI now owns 536,400 shares of the company’s stock worth $7,472,000 after purchasing an additional 118,400 shares during the period. Barclays PLC boosted its position in shares of Arcutis Biotherapeutics by 45.8% during the third quarter. Barclays PLC now owns 253,392 shares of the company’s stock worth $2,356,000 after buying an additional 79,579 shares during the period. American Century Companies Inc. grew its stake in shares of Arcutis Biotherapeutics by 11.4% in the fourth quarter. American Century Companies Inc. now owns 1,631,226 shares of the company’s stock valued at $22,723,000 after buying an additional 166,915 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Arcutis Biotherapeutics by 5.8% in the 4th quarter. Jennison Associates LLC now owns 12,339,792 shares of the company’s stock valued at $171,893,000 after buying an additional 676,295 shares during the period. Finally, Zweig DiMenna Associates LLC acquired a new position in Arcutis Biotherapeutics during the 4th quarter worth about $578,000.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $20.00 price target on shares of Arcutis Biotherapeutics in a research note on Wednesday, April 9th. Guggenheim reissued a “buy” rating on shares of Arcutis Biotherapeutics in a research report on Thursday, April 3rd. Mizuho boosted their price target on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. HC Wainwright reiterated a “buy” rating and issued a $19.00 price objective on shares of Arcutis Biotherapeutics in a research note on Thursday, April 3rd. Finally, Jefferies Financial Group upped their price target on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.80.

Insider Activity

In other news, insider Masaru Matsuda sold 5,030 shares of Arcutis Biotherapeutics stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $15.20, for a total value of $76,456.00. Following the transaction, the insider now directly owns 204,399 shares of the company’s stock, valued at $3,106,864.80. The trade was a 2.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Howard G. Welgus sold 10,000 shares of Arcutis Biotherapeutics stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $13.00, for a total transaction of $130,000.00. Following the completion of the transaction, the director now owns 131,944 shares in the company, valued at approximately $1,715,272. This represents a 7.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,662 shares of company stock worth $527,326. Corporate insiders own 9.50% of the company’s stock.

Arcutis Biotherapeutics Stock Up 0.1 %

Arcutis Biotherapeutics stock opened at $13.53 on Friday. The stock has a market cap of $1.61 billion, a PE ratio of -7.56 and a beta of 1.87. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38. The stock’s fifty day moving average is $14.78 and its two-hundred day moving average is $13.24. Arcutis Biotherapeutics, Inc. has a 1-year low of $6.99 and a 1-year high of $17.75.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its earnings results on Tuesday, May 6th. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.01. The firm had revenue of $65.85 million during the quarter, compared to analysts’ expectations of $64.80 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. On average, sell-side analysts expect that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current fiscal year.

Arcutis Biotherapeutics Company Profile

Arcutis Biotherapeutics, Inc, a biopharmaceutical company, focuses on developing and commercializing treatments for dermatological diseases. Its lead product candidate is ARQ-151, a topical roflumilast cream that has completed Phase III clinical trials for the treatment of plaque psoriasis and atopic dermatitis.