Invesco Ltd. Increases Stake in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Invesco Ltd. lifted its stake in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) by 20.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,126,668 shares of the company's stock after purchasing an additional 188,184 shares during the period. Invesco Ltd. owned 0.96% of Arcutis Biotherapeutics worth $15,694,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ARQT. Barclays PLC boosted its stake in Arcutis Biotherapeutics by 45.8% in the 3rd quarter. Barclays PLC now owns 253,392 shares of the company's stock worth $2,356,000 after purchasing an additional 79,579 shares during the period. Geode Capital Management LLC increased its holdings in Arcutis Biotherapeutics by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,470,138 shares of the company's stock worth $22,977,000 after acquiring an additional 48,868 shares during the period. JPMorgan Chase & Co. grew its position in Arcutis Biotherapeutics by 0.9% during the third quarter. JPMorgan Chase & Co. now owns 1,296,911 shares of the company's stock worth $12,061,000 after buying an additional 11,833 shares in the last quarter. LVW Advisors LLC purchased a new stake in shares of Arcutis Biotherapeutics in the 4th quarter valued at about $166,000. Finally, SG Americas Securities LLC boosted its position in shares of Arcutis Biotherapeutics by 25.4% during the 4th quarter. SG Americas Securities LLC now owns 48,087 shares of the company's stock valued at $670,000 after acquiring an additional 9,754 shares during the last quarter.

Arcutis Biotherapeutics Stock Performance

NASDAQ:ARQT traded up $0.30 during trading hours on Tuesday, reaching $13.83. The company had a trading volume of 2,048,013 shares, compared to its average volume of 2,396,280. The firm's 50 day moving average price is $14.37 and its 200-day moving average price is $12.77. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of -7.73 and a beta of 1.67. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67. Arcutis Biotherapeutics, Inc. has a 52 week low of $6.99 and a 52 week high of $17.75.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, beating analysts' consensus estimates of ($0.28) by $0.19. The company had revenue of $71.36 million during the quarter, compared to analysts' expectations of $60.52 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. On average, analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

Insider Buying and Selling

In other news, insider Todd Franklin Watanabe sold 1,500 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $17.52, for a total value of $26,280.00. Following the transaction, the insider now owns 927,414 shares of the company's stock, valued at $16,248,293.28. This trade represents a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Masaru Matsuda sold 8,338 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $12.70, for a total value of $105,892.60. Following the transaction, the insider now owns 178,692 shares of the company's stock, valued at approximately $2,269,388.40. This trade represents a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,099 shares of company stock valued at $631,256. 9.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ARQT. The Goldman Sachs Group increased their target price on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a "neutral" rating in a research note on Thursday, February 27th. HC Wainwright reaffirmed a "buy" rating and issued a $19.00 target price on shares of Arcutis Biotherapeutics in a research note on Thursday, April 3rd. Guggenheim restated a "buy" rating on shares of Arcutis Biotherapeutics in a report on Thursday, April 3rd. 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. Finally, Jefferies Financial Group raised their price objective on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a "buy" rating in a research note on Tuesday, March 11th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $18.80.

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.