Gilder Gagnon Howe & Co. LLC Buys 349,153 Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Gilder Gagnon Howe & Co. LLC grew its holdings in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) by 9.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,902,991 shares of the company's stock after buying an additional 349,153 shares during the period. Gilder Gagnon Howe & Co. LLC owned 3.33% of Arcutis Biotherapeutics worth $54,369,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Venturi Wealth Management LLC purchased a new position in shares of Arcutis Biotherapeutics during the fourth quarter valued at about $46,000. Cibc World Markets Corp purchased a new position in shares of Arcutis Biotherapeutics in the 4th quarter valued at approximately $140,000. Summit Investment Advisors Inc. boosted its position in shares of Arcutis Biotherapeutics by 8.0% during the fourth quarter. Summit Investment Advisors Inc. now owns 11,245 shares of the company's stock valued at $157,000 after purchasing an additional 837 shares in the last quarter. LVW Advisors LLC purchased a new stake in Arcutis Biotherapeutics in the fourth quarter worth $166,000. Finally, Syon Capital LLC purchased a new position in Arcutis Biotherapeutics during the fourth quarter valued at $189,000.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $20.00 price target on shares of Arcutis Biotherapeutics in a research note on Wednesday, April 9th. Guggenheim reaffirmed a "buy" rating on shares of Arcutis Biotherapeutics in a research note on Thursday, April 3rd. Jefferies Financial Group boosted their price target on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a "buy" rating in a research report on Tuesday, March 11th. Mizuho lifted their price objective on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. Finally, The Goldman Sachs Group increased their target price on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a "neutral" rating in a research note on Thursday, February 27th. One investment 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.

Insider Buying and Selling at Arcutis Biotherapeutics

In other news, insider Patrick Burnett sold 2,819 shares of the business's 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. The trade was a 1.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Masaru Matsuda sold 8,338 shares of the firm'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 directly owns 178,692 shares in the company, valued at $2,269,388.40. This trade represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,099 shares of company stock worth $631,256. Insiders own 9.50% of the company's stock.

Arcutis Biotherapeutics Stock Up 1.5 %

Shares of Arcutis Biotherapeutics stock traded up $0.22 on Tuesday, reaching $14.75. The company's stock had a trading volume of 1,446,935 shares, compared to its average volume of 2,382,010. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of -8.24 and a beta of 1.67. 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 52 week low of $6.99 and a 52 week high of $17.75. The firm's fifty day simple moving average is $14.54 and its two-hundred day simple moving average is $12.94.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating 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 business had revenue of $71.36 million for the quarter, compared to analysts' expectations of $60.52 million. Equities analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current year.

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.