Jackson Creek Investment Advisors LLC Takes Position in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Jackson Creek Investment Advisors LLC bought a new stake in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 151,293 shares of the company's stock, valued at approximately $2,108,000. Arcutis Biotherapeutics accounts for 0.6% of Jackson Creek Investment Advisors LLC's investment portfolio, making the stock its 7th biggest holding. Jackson Creek Investment Advisors LLC owned approximately 0.13% of Arcutis Biotherapeutics as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. increased its stake in shares of Arcutis Biotherapeutics by 9.9% during the third quarter. Victory Capital Management Inc. now owns 12,843 shares of the company's stock valued at $119,000 after purchasing an additional 1,155 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in Arcutis Biotherapeutics by 10.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 24,818 shares of the company's stock valued at $346,000 after buying an additional 2,336 shares in the last quarter. Point72 DIFC Ltd bought a new stake in Arcutis Biotherapeutics in the third quarter worth $25,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Arcutis Biotherapeutics by 1.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 276,691 shares of the company's stock worth $2,573,000 after acquiring an additional 2,912 shares during the last quarter. Finally, Venturi Wealth Management LLC bought a new position in shares of Arcutis Biotherapeutics during the fourth quarter valued at $46,000.

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Arcutis Biotherapeutics Stock Performance

Shares of Arcutis Biotherapeutics stock traded up $1.11 on Tuesday, hitting $15.49. 2,574,147 shares of the company's stock were exchanged, compared to its average volume of 2,231,173. The company has a 50-day simple moving average of $13.45 and a 200-day simple moving average of $11.72. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46. Arcutis Biotherapeutics, Inc. has a 1 year low of $6.99 and a 1 year high of $16.20. The stock has a market capitalization of $1.84 billion, a PE ratio of -8.65 and a beta of 1.48.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.19. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. The company had revenue of $71.36 million during the quarter, compared to analyst estimates of $60.52 million. As a group, equities analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ARQT shares. HC Wainwright reaffirmed a "buy" rating and issued a $19.00 price objective on shares of Arcutis Biotherapeutics in a research report on Wednesday, February 26th. The Goldman Sachs Group boosted their price target on 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 reaffirmed a "buy" rating and set a $20.00 price objective on shares of Arcutis Biotherapeutics in a research report on Wednesday, February 26th. Guggenheim restated a "buy" rating on shares of Arcutis Biotherapeutics in a research note on Monday, February 24th. Finally, Mizuho lifted their target price on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $18.80.

Insider Transactions at Arcutis Biotherapeutics

In other news, Director Howard G. Welgus sold 10,000 shares of Arcutis Biotherapeutics stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.67, for a total value of $146,700.00. Following the sale, the director now directly owns 151,944 shares of the company's stock, valued at approximately $2,229,018.48. The trade was a 6.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Todd Franklin Watanabe sold 15,000 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $15.17, for a total value of $227,550.00. Following the transaction, the insider now directly owns 823,430 shares of the company's stock, valued at approximately $12,491,433.10. The trade was a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 57,848 shares of company stock valued at $797,648 over the last 90 days. Company insiders own 9.50% of the company's stock.

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.