Charles Schwab Investment Management Inc. Has $12.24 Million Holdings in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) by 2.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 878,804 shares of the company's stock after purchasing an additional 18,958 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.75% of Arcutis Biotherapeutics worth $12,242,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Victory Capital Management Inc. boosted 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 acquiring an additional 1,155 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in shares of Arcutis Biotherapeutics by 10.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 24,818 shares of the company's stock valued at $346,000 after acquiring an additional 2,336 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Arcutis Biotherapeutics during the 3rd quarter valued at approximately $25,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Arcutis Biotherapeutics by 1.1% during 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 purchasing an additional 2,912 shares during the last quarter. Finally, Venturi Wealth Management LLC acquired a new stake in shares of Arcutis Biotherapeutics during the fourth quarter worth $46,000.

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Wall Street Analyst Weigh In

A number of equities analysts have commented on ARQT shares. Guggenheim restated a "buy" rating on shares of Arcutis Biotherapeutics in a research note on Monday, February 24th. Jefferies Financial Group boosted their price target on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a "buy" rating in a report on Tuesday, March 11th. Needham & Company LLC reiterated a "buy" rating and issued a $20.00 price objective on shares of Arcutis Biotherapeutics in a research report on Wednesday, February 26th. The Goldman Sachs Group lifted their price target on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a "neutral" rating in a report on Thursday, February 27th. Finally, Mizuho increased their target price on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $18.80.

Arcutis Biotherapeutics Stock Down 1.0 %

Shares of ARQT traded down $0.18 during mid-day trading on Tuesday, reaching $17.11. The company's stock had a trading volume of 2,880,974 shares, compared to its average volume of 2,375,415. The company has a market cap of $2.03 billion, a price-to-earnings ratio of -9.56 and a beta of 1.48. The business has a fifty day moving average of $13.75 and a 200 day moving average of $12.10. 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, Inc. has a 1 year low of $6.99 and a 1 year high of $17.75.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last announced its quarterly earnings data 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 return on equity of 119.11% and a negative net margin of 140.97%. The firm had revenue of $71.36 million during the quarter, compared to the consensus estimate of $60.52 million. As a group, analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Arcutis Biotherapeutics news, insider Patrick Burnett sold 2,819 shares of Arcutis Biotherapeutics stock in a transaction 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 owns 167,043 shares of the company's stock, valued at $2,176,570.29. This trade represents a 1.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Howard G. Welgus sold 10,000 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.67, for a total transaction of $146,700.00. Following the completion of the transaction, the director now directly owns 151,944 shares in the company, valued at $2,229,018.48. This trade represents a 6.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 56,290 shares of company stock worth $775,350. 9.50% 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.