Erste Asset Management GmbH Grows Stake in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Erste Asset Management GmbH boosted its holdings in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) by 558.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,100 shares of the company's stock after buying an additional 62,000 shares during the quarter. Erste Asset Management GmbH owned approximately 0.06% of Arcutis Biotherapeutics worth $1,045,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Point72 DIFC Ltd purchased a new position in Arcutis Biotherapeutics in the third quarter worth $25,000. Venturi Wealth Management LLC purchased a new position in Arcutis Biotherapeutics in the fourth quarter worth $46,000. LVW Advisors LLC purchased a new position in Arcutis Biotherapeutics in the fourth quarter worth $166,000. Victory Capital Management Inc. lifted 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 worth $119,000 after buying an additional 1,155 shares during the period. Finally, Aigen Investment Management LP acquired a new stake in shares of Arcutis Biotherapeutics during the fourth quarter worth $191,000.

Analyst Ratings Changes

Several research firms have recently commented on ARQT. Jefferies Financial Group lifted their price objective on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a "buy" rating in a research note on Tuesday, March 11th. Guggenheim reiterated a "buy" rating on shares of Arcutis Biotherapeutics in a research note on Monday, February 24th. Mizuho lifted their price objective on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. HC Wainwright reiterated a "buy" rating and set a $19.00 price objective on shares of Arcutis Biotherapeutics in a research note on Wednesday, February 26th. Finally, 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 report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $18.80.

Remove Ads

Arcutis Biotherapeutics Stock Performance

NASDAQ ARQT traded up $0.73 on Wednesday, reaching $16.60. 2,408,621 shares of the company's stock traded hands, compared to its average volume of 2,405,790. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of -9.27 and a beta of 1.48. The stock has a 50 day moving average price of $13.55 and a 200-day moving average price of $11.92. Arcutis Biotherapeutics, Inc. has a fifty-two week low of $6.99 and a fifty-two week high of $17.70. 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 (NASDAQ:ARQT - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $60.52 million. Equities research analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current fiscal year.

Insider Buying and Selling at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, insider Todd Franklin Watanabe sold 15,000 shares of Arcutis Biotherapeutics stock in a transaction 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 completion of the transaction, the insider now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Masaru Matsuda sold 8,338 shares of Arcutis Biotherapeutics stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $12.70, for a total transaction of $105,892.60. Following the completion of the transaction, the insider now directly owns 178,692 shares of the company's stock, valued at $2,269,388.40. The trade was a 4.46 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 70,090 shares of company stock valued at $981,768. Corporate insiders own 9.50% of the company's stock.

About Arcutis Biotherapeutics

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.