Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Position Lessened by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. decreased its holdings in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) by 43.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 100,172 shares of the company's stock after selling 75,737 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.09% of Arcutis Biotherapeutics worth $932,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in ARQT. Price T Rowe Associates Inc. MD grew its stake in shares of Arcutis Biotherapeutics by 3.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 47,753 shares of the company's stock worth $474,000 after purchasing an additional 1,681 shares during the last quarter. CWM LLC boosted its stake in Arcutis Biotherapeutics by 6,740.0% in the 2nd quarter. CWM LLC now owns 4,104 shares of the company's stock valued at $38,000 after buying an additional 4,044 shares in the last quarter. SG Americas Securities LLC boosted its position in Arcutis Biotherapeutics by 531.2% in the second quarter. SG Americas Securities LLC now owns 99,161 shares of the company's stock valued at $922,000 after buying an additional 83,452 shares in the last quarter. Bank of New York Mellon Corp raised its position in Arcutis Biotherapeutics by 25.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 390,202 shares of the company's stock valued at $3,629,000 after purchasing an additional 80,078 shares during the last quarter. Finally, Legato Capital Management LLC bought a new position in Arcutis Biotherapeutics in the 2nd quarter valued at $523,000.

Arcutis Biotherapeutics Stock Up 0.6 %

NASDAQ ARQT traded up $0.08 during trading on Monday, hitting $12.48. The stock had a trading volume of 654,546 shares, compared to its average volume of 3,149,437. Arcutis Biotherapeutics, Inc. has a one year low of $1.89 and a one year high of $13.50. The stock has a 50 day simple moving average of $10.01 and a 200 day simple moving average of $9.67. 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 (NASDAQ:ARQT - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.42) by $0.09. The firm had revenue of $44.76 million for the quarter, compared to the consensus estimate of $38.05 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. On average, analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.34 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Masaru Matsuda sold 5,015 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $8.68, for a total transaction of $43,530.20. Following the sale, the insider now owns 178,273 shares in the company, valued at $1,547,409.64. This trade represents a 2.74 % 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, Director Howard G. Welgus sold 10,000 shares of Arcutis Biotherapeutics stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $12.51, for a total value of $125,100.00. Following the sale, the director now directly owns 161,944 shares in the company, valued at approximately $2,025,919.44. The trade was a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,951 shares of company stock worth $770,144 in the last 90 days. Corporate insiders own 9.50% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $18.00 price target on shares of Arcutis Biotherapeutics in a research note on Thursday, November 7th. Jefferies Financial Group initiated coverage on shares of Arcutis Biotherapeutics in a research note on Wednesday, August 28th. They set a "buy" rating and a $15.00 target price on the stock.

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.