AMI Asset Management Corp Buys 59,487 Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

AMI Asset Management Corp increased its stake in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) by 36.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 223,681 shares of the company's stock after purchasing an additional 59,487 shares during the period. AMI Asset Management Corp owned approximately 0.19% of Arcutis Biotherapeutics worth $2,080,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. CWM LLC boosted its stake in Arcutis Biotherapeutics by 6,740.0% in the second quarter. CWM LLC now owns 4,104 shares of the company's stock worth $38,000 after buying an additional 4,044 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in Arcutis Biotherapeutics by 55.2% in the first quarter. Ameritas Investment Partners Inc. now owns 7,871 shares of the company's stock worth $78,000 after buying an additional 2,800 shares in the last quarter. Algert Global LLC purchased a new stake in Arcutis Biotherapeutics in the second quarter worth approximately $97,000. Creative Planning purchased a new stake in Arcutis Biotherapeutics in the third quarter worth approximately $127,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Arcutis Biotherapeutics in the second quarter worth approximately $174,000.

Insider Activity at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, insider Masaru Matsuda sold 5,220 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $9.02, for a total value of $47,084.40. Following the completion of the transaction, the insider now owns 183,288 shares in the company, valued at approximately $1,653,257.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Arcutis Biotherapeutics news, insider Masaru Matsuda sold 5,220 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $9.02, for a total value of $47,084.40. Following the completion of the transaction, the insider now owns 183,288 shares in the company, valued at approximately $1,653,257.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Larry Todd Edwards sold 3,725 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $10.01, for a total value of $37,287.25. Following the completion of the transaction, the senior vice president now owns 136,635 shares of the company's stock, valued at approximately $1,367,716.35. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,299 shares of company stock worth $507,911 over the last quarter. 9.50% of the stock is owned by corporate insiders.

Arcutis Biotherapeutics Trading Down 0.5 %

Shares of Arcutis Biotherapeutics stock traded down $0.04 during midday trading on Wednesday, reaching $8.52. 905,691 shares of the company's stock traded hands, compared to its average volume of 3,271,889. The company has a debt-to-equity ratio of 1.09, a quick ratio of 8.19 and a current ratio of 8.46. The company has a market cap of $995.91 million, a PE ratio of -3.89 and a beta of 1.17. The stock has a 50 day moving average of $9.79 and a 200-day moving average of $9.32. Arcutis Biotherapeutics, Inc. has a 12 month low of $1.76 and a 12 month high of $13.17.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last announced its earnings results on Wednesday, August 14th. The company reported ($0.42) EPS for the quarter, beating analysts' consensus estimates of ($0.48) by $0.06. The company had revenue of $30.86 million during the quarter, compared to the consensus estimate of $31.00 million. Arcutis Biotherapeutics had a negative return on equity of 145.41% and a negative net margin of 150.51%. During the same quarter in the prior year, the company earned ($1.16) earnings per share. As a group, equities analysts expect that Arcutis Biotherapeutics, Inc. will post -1.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Jefferies Financial Group assumed coverage on Arcutis Biotherapeutics in a research note on Wednesday, August 28th. They set a "buy" rating and a $15.00 price objective for the company. Needham & Company LLC reissued a "buy" rating and set a $18.00 price objective on shares of Arcutis Biotherapeutics in a research note on Thursday, August 15th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, Arcutis Biotherapeutics has a consensus rating of "Moderate Buy" and a consensus price target of $13.33.

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.