Vanguard Group Inc. Sells 521,920 Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Vanguard Group Inc. lowered its holdings in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) by 7.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,440,715 shares of the company's stock after selling 521,920 shares during the period. Vanguard Group Inc. owned approximately 5.50% of Arcutis Biotherapeutics worth $89,719,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fishman Jay A Ltd. MI lifted its position in Arcutis Biotherapeutics by 28.3% in the 4th quarter. Fishman Jay A Ltd. MI now owns 536,400 shares of the company's stock worth $7,472,000 after buying an additional 118,400 shares in the last quarter. Barclays PLC raised its stake in shares of Arcutis Biotherapeutics by 45.8% during the 3rd quarter. Barclays PLC now owns 253,392 shares of the company's stock worth $2,356,000 after purchasing an additional 79,579 shares in the last quarter. State Street Corp lifted its holdings in shares of Arcutis Biotherapeutics by 9.9% during the 3rd quarter. State Street Corp now owns 5,641,631 shares of the company's stock valued at $52,467,000 after buying an additional 506,788 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Arcutis Biotherapeutics by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,470,138 shares of the company's stock valued at $22,977,000 after buying an additional 48,868 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Arcutis Biotherapeutics by 1.1% during 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 acquiring an additional 2,912 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Guggenheim reaffirmed a "buy" rating on shares of Arcutis Biotherapeutics in a research report on Thursday, April 3rd. Mizuho upped their price objective on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. HC Wainwright reaffirmed a "buy" rating and issued a $19.00 price target on shares of Arcutis Biotherapeutics in a research report on Thursday, April 3rd. Needham & Company LLC reaffirmed a "buy" rating and issued a $20.00 target price on shares of Arcutis Biotherapeutics in a report on Wednesday, April 9th. Finally, 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 report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $18.80.

Insider Activity

In other news, insider Todd Franklin Watanabe sold 1,500 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $17.52, for a total value of $26,280.00. Following the sale, the insider now directly owns 927,414 shares in the company, valued at approximately $16,248,293.28. This represents a 0.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Howard G. Welgus sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $12.71, for a total value of $127,100.00. Following the transaction, the director now owns 141,944 shares of the company's stock, valued at $1,804,108.24. This trade represents a 6.58 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,099 shares of company stock worth $631,256. 9.50% of the stock is currently owned by corporate insiders.

Arcutis Biotherapeutics Stock Performance

ARQT traded up $0.58 on Tuesday, hitting $13.52. 370,183 shares of the stock traded hands, compared to its average volume of 2,400,907. The business has a fifty day moving average price of $14.23 and a two-hundred day moving average price of $12.65. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $1.60 billion, a PE ratio of -7.55 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.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $71.36 million for the quarter, compared to analysts' expectations of $60.52 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. On average, research analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current fiscal year.

Arcutis Biotherapeutics 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.