Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Shares Sold by Deutsche Bank AG

Deutsche Bank AG trimmed its holdings in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 51.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 387,536 shares of the company’s stock after selling 412,491 shares during the quarter. Deutsche Bank AG owned 0.33% of Arcutis Biotherapeutics worth $5,398,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Venturi Wealth Management LLC purchased a new position in Arcutis Biotherapeutics during the fourth quarter worth about $46,000. Cibc World Markets Corp purchased a new position in Arcutis Biotherapeutics in the fourth quarter valued at $140,000. Summit Investment Advisors Inc. boosted its holdings in shares of Arcutis Biotherapeutics by 8.0% in the fourth quarter. Summit Investment Advisors Inc. now owns 11,245 shares of the company’s stock valued at $157,000 after acquiring an additional 837 shares during the period. LVW Advisors LLC purchased a new position in shares of Arcutis Biotherapeutics during the fourth quarter worth approximately $166,000. Finally, Syon Capital LLC acquired a new position in shares of Arcutis Biotherapeutics in the 4th quarter valued at $189,000.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ:ARQT opened at $14.11 on Monday. Arcutis Biotherapeutics, Inc. has a 52 week low of $6.99 and a 52 week high of $17.75. The company has a 50-day moving average price of $14.69 and a 200 day moving average price of $13.46. The company has a market cap of $1.68 billion, a P/E ratio of -7.88 and a beta of 1.87. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67.

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ARQT shares. The Goldman Sachs Group increased their price target on shares of Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and set a $20.00 target price 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 report on Thursday, April 3rd. HC Wainwright reaffirmed a “buy” rating and set a $19.00 price objective on shares of Arcutis Biotherapeutics in a research note on Thursday, April 3rd. Finally, Jefferies Financial Group increased their price objective on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $18.80.

Insiders Place Their Bets

In other news, insider Patrick Burnett sold 2,819 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $13.03, for a total transaction of $36,731.57. Following the completion of the sale, the insider now directly owns 167,043 shares in the company, valued at approximately $2,176,570.29. This trade represents a 1.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Howard G. Welgus sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $13.00, for a total value of $130,000.00. Following the sale, the director now directly owns 131,944 shares in the company, valued at $1,715,272. This trade represents a 7.05% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,662 shares of company stock worth $527,326. Corporate insiders own 9.40% of the company’s stock.

About Arcutis Biotherapeutics

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.