Trexquant Investment LP Trims Stock Holdings in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Trexquant Investment LP lessened its stake in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) by 36.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,658 shares of the company's stock after selling 32,546 shares during the quarter. Trexquant Investment LP's holdings in Arcutis Biotherapeutics were worth $803,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ARQT. Venturi Wealth Management LLC acquired a new stake in Arcutis Biotherapeutics in the fourth quarter valued at approximately $46,000. Cibc World Markets Corp bought a new position in shares of Arcutis Biotherapeutics in the 4th quarter worth $140,000. LVW Advisors LLC acquired a new stake in Arcutis Biotherapeutics in the 4th quarter valued at $166,000. Aigen Investment Management LP acquired a new stake in Arcutis Biotherapeutics in the 4th quarter valued at $191,000. Finally, Tradewinds LLC. bought a new stake in Arcutis Biotherapeutics during the 4th quarter valued at $196,000.

Arcutis Biotherapeutics Stock Performance

Shares of ARQT stock traded down $0.06 during trading on Thursday, hitting $12.91. The company's stock had a trading volume of 459,586 shares, compared to its average volume of 2,398,630. The business has a fifty day moving average of $14.27 and a 200-day moving average of $12.65. The company has a market cap of $1.53 billion, a PE ratio of -7.22 and a beta of 1.67. Arcutis Biotherapeutics, Inc. has a 52 week low of $6.99 and a 52 week high of $17.75. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last announced 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. The firm had revenue of $71.36 million during the quarter, compared to analyst estimates of $60.52 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. As a group, research analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Needham & Company LLC reiterated a "buy" rating and set a $20.00 price objective on shares of Arcutis Biotherapeutics in a report on Wednesday, April 9th. Mizuho increased their price objective on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. The Goldman Sachs Group lifted their target price on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a "neutral" rating in a research report on Thursday, February 27th. HC Wainwright reissued a "buy" rating and issued a $19.00 price target on shares of Arcutis Biotherapeutics in a research report on Thursday, April 3rd. Finally, 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 report on Tuesday, March 11th. One equities research analyst has 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 presently has a consensus rating of "Moderate Buy" and an average price target of $18.80.

Insider Buying and Selling

In other Arcutis Biotherapeutics news, insider Patrick Burnett sold 12,242 shares of the firm's stock in a transaction on 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 directly owns 121,936 shares of the company's stock, valued at $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 SEC, which is available through this link. Also, insider Todd Franklin Watanabe sold 1,500 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $17.52, for a total value of $26,280.00. Following the completion of the sale, the insider now owns 927,414 shares in the company, valued at approximately $16,248,293.28. The trade was a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,099 shares of company stock worth $631,256. Insiders own 9.50% of the company's 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.