Focus Partners Wealth Acquires New Holdings in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Focus Partners Wealth bought a new stake in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 64,183 shares of the company’s stock, valued at approximately $894,000.

Several other institutional investors have also recently bought and sold shares of the company. Cercano Management LLC bought a new stake in shares of Arcutis Biotherapeutics during the 4th quarter worth approximately $17,487,000. Driehaus Capital Management LLC acquired a new position in Arcutis Biotherapeutics in the 4th quarter valued at $15,278,000. D. E. Shaw & Co. Inc. grew its holdings in Arcutis Biotherapeutics by 44.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,513,577 shares of the company’s stock valued at $35,014,000 after buying an additional 768,553 shares in the last quarter. Simplify Asset Management Inc. acquired a new position in Arcutis Biotherapeutics in the 4th quarter valued at $10,340,000. Finally, Jennison Associates LLC grew its holdings in shares of Arcutis Biotherapeutics by 5.8% during the 4th quarter. Jennison Associates LLC now owns 12,339,792 shares of the company’s stock worth $171,893,000 after purchasing an additional 676,295 shares in the last quarter.

Analysts Set New Price Targets

Several research firms have recently issued reports on ARQT. Mizuho increased their target price on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Jefferies Financial Group increased their target price on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. Guggenheim restated a “buy” rating on shares of Arcutis Biotherapeutics in a research report on Thursday, April 3rd. HC Wainwright reaffirmed a “buy” rating and set a $19.00 target price on shares of Arcutis Biotherapeutics in a research note on Thursday, April 3rd. Finally, The Goldman Sachs Group raised their target price on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Arcutis Biotherapeutics currently has an average rating of “Moderate Buy” and an average price target of $18.80.

Arcutis Biotherapeutics Price Performance

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

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $65.85 million during the quarter, compared to analysts’ expectations of $64.80 million. Equities research analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current year.

Insider Activity at Arcutis Biotherapeutics

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

Arcutis Biotherapeutics 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.