American Century Companies Inc. Grows Stock Position in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

American Century Companies Inc. lifted its stake in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) by 11.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,631,226 shares of the company's stock after purchasing an additional 166,915 shares during the quarter. American Century Companies Inc. owned about 1.39% of Arcutis Biotherapeutics worth $22,723,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Point72 DIFC Ltd bought a new position in Arcutis Biotherapeutics in the third quarter worth approximately $25,000. Venturi Wealth Management LLC bought a new position in shares of Arcutis Biotherapeutics in the 4th quarter worth $46,000. Erste Asset Management GmbH acquired a new stake in Arcutis Biotherapeutics in the 3rd quarter valued at $104,000. Victory Capital Management Inc. increased its stake in Arcutis Biotherapeutics by 9.9% during the 3rd 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. Finally, Cibc World Markets Corp bought a new stake in Arcutis Biotherapeutics during the 4th quarter valued at $140,000.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Mizuho lifted their price objective on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Jefferies Financial Group lifted 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. The Goldman Sachs Group boosted their target price on shares of Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a "neutral" rating in a research note on Thursday, February 27th. Needham & Company LLC reiterated a "buy" rating and set a $20.00 price target on shares of Arcutis Biotherapeutics in a research note on Thursday. Finally, HC Wainwright reissued a "buy" rating and issued a $19.00 price target on shares of Arcutis Biotherapeutics in a research report on Thursday. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $18.80.

Arcutis Biotherapeutics Price Performance

Shares of ARQT traded down $0.44 during mid-day trading on Thursday, reaching $16.16. 2,758,016 shares of the stock traded hands, compared to its average volume of 2,427,226. The company has a market cap of $1.92 billion, a price-to-earnings ratio of -9.03 and a beta of 1.48. Arcutis Biotherapeutics, Inc. has a 1 year low of $6.99 and a 1 year high of $17.75. The firm has a fifty day moving average price of $14.19 and a 200 day moving average price of $12.38. 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 (NASDAQ:ARQT - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.19. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. The business had revenue of $71.36 million during the quarter, compared to analysts' expectations of $60.52 million. As a group, equities research analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current year.

Insider Buying and Selling

In other Arcutis Biotherapeutics 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 transaction of $26,280.00. Following the sale, the insider now owns 927,414 shares in the company, 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 document filed with the SEC, which is available at this hyperlink. Also, insider Masaru Matsuda sold 8,338 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $12.70, for a total value of $105,892.60. Following the completion of the transaction, the insider now owns 178,692 shares of the company's stock, valued at $2,269,388.40. The trade was a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,099 shares of company stock worth $631,256. 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.