Tejara Capital Ltd Trims Stock Position in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Tejara Capital Ltd reduced its stake in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) by 23.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 886,838 shares of the company's stock after selling 278,471 shares during the quarter. Arcutis Biotherapeutics comprises approximately 7.9% of Tejara Capital Ltd's portfolio, making the stock its biggest holding. Tejara Capital Ltd owned approximately 0.76% of Arcutis Biotherapeutics worth $12,354,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Victory Capital Management Inc. increased its stake in Arcutis Biotherapeutics by 9.9% in the third quarter. Victory Capital Management Inc. now owns 12,843 shares of the company's stock valued at $119,000 after purchasing an additional 1,155 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in Arcutis Biotherapeutics by 10.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 24,818 shares of the company's stock valued at $346,000 after purchasing an additional 2,336 shares during the last quarter. Point72 DIFC Ltd acquired a new position in Arcutis Biotherapeutics in the third quarter valued at $25,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Arcutis Biotherapeutics by 1.1% in 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 valued at $2,573,000 after purchasing an additional 2,912 shares during the last quarter. Finally, Venturi Wealth Management LLC acquired a new position in Arcutis Biotherapeutics in the fourth quarter valued at $46,000.

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Analyst Ratings Changes

Several equities analysts recently commented on the company. HC Wainwright reiterated a "buy" rating and issued a $19.00 target price on shares of Arcutis Biotherapeutics in a research note on Wednesday, February 26th. The Goldman Sachs Group upped their price target on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a "neutral" rating in a research note on Thursday, February 27th. Needham & Company LLC restated a "buy" rating and set a $20.00 price target on shares of Arcutis Biotherapeutics in a research note on Wednesday, February 26th. Mizuho upped their price target on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. Finally, Guggenheim restated a "buy" rating on shares of Arcutis Biotherapeutics in a research note on Monday, February 24th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $18.80.

Insider Activity

In other news, insider Patrick Burnett sold 12,242 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $15.04, for a total value of $184,119.68. Following the completion of the sale, the insider now owns 121,936 shares in the company, valued at approximately $1,833,917.44. This trade represents a 9.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Masaru Matsuda sold 8,338 shares of the stock in a transaction dated Monday, February 3rd. The shares were 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 of the company's stock, valued at $2,269,388.40. This represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,290 shares of company stock worth $775,350. 9.50% of the stock is currently owned by corporate insiders.

Arcutis Biotherapeutics Stock Up 1.4 %

Shares of ARQT stock traded up $0.24 during trading hours on Friday, reaching $17.01. The company had a trading volume of 1,973,627 shares, compared to its average volume of 2,394,549. 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, Inc. has a twelve month low of $6.99 and a twelve month high of $17.70. The company has a market capitalization of $2.02 billion, a P/E ratio of -9.50 and a beta of 1.48. The stock's fifty day simple moving average is $13.67 and its 200 day simple moving average is $12.03.

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 analysts' consensus estimates 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 business had revenue of $71.36 million during the quarter, compared to analyst estimates of $60.52 million. As a group, sell-side analysts expect that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current fiscal 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.