MetLife Investment Management LLC Acquires 3,813 Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

MetLife Investment Management LLC boosted its holdings in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 6.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 65,471 shares of the company’s stock after purchasing an additional 3,813 shares during the period. MetLife Investment Management LLC’s holdings in Arcutis Biotherapeutics were worth $912,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. MYDA Advisors LLC lifted its stake in shares of Arcutis Biotherapeutics by 17.6% in the 4th quarter. MYDA Advisors LLC now owns 200,000 shares of the company’s stock valued at $2,786,000 after acquiring an additional 30,000 shares during the last quarter. First Trust Advisors LP bought a new stake in Arcutis Biotherapeutics in the fourth quarter valued at approximately $3,665,000. PEAK6 LLC bought a new stake in Arcutis Biotherapeutics in the fourth quarter valued at approximately $279,000. Jump Financial LLC purchased a new stake in shares of Arcutis Biotherapeutics during the fourth quarter valued at approximately $211,000. Finally, Summit Investment Advisors Inc. grew its holdings in shares of Arcutis Biotherapeutics by 8.0% in the fourth quarter. Summit Investment Advisors Inc. now owns 11,245 shares of the company’s stock worth $157,000 after purchasing an additional 837 shares during the last quarter.

Arcutis Biotherapeutics Stock Performance

Shares of ARQT opened at $15.24 on Friday. The company has a 50-day simple moving average of $14.69 and a two-hundred day simple moving average of $13.03. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38. The firm has a market capitalization of $1.81 billion, a PE ratio of -8.51 and a beta of 1.67. Arcutis Biotherapeutics, Inc. has a one year low of $6.99 and a one year high of $17.75.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its earnings results on Tuesday, February 25th. The company reported ($0.09) 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 company had revenue of $71.36 million during the quarter, compared to analysts’ expectations of $60.52 million. On average, analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current fiscal year.

Insider Buying and Selling at Arcutis Biotherapeutics

In related news, Director Howard G. Welgus sold 10,000 shares of Arcutis Biotherapeutics stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $12.71, for a total transaction of $127,100.00. Following the completion of the transaction, the director now directly 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Masaru Matsuda sold 8,338 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $12.70, for a total transaction of $105,892.60. Following the sale, the insider now directly owns 178,692 shares in the company, valued at $2,269,388.40. The trade was a 4.46 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,099 shares of company stock valued at $631,256. 9.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ARQT has been the subject of a number of recent analyst reports. Jefferies Financial Group upped their price target on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, March 11th. Needham & Company LLC reiterated a “buy” rating and set a $20.00 target price on shares of Arcutis Biotherapeutics in a report on Wednesday, April 9th. HC Wainwright restated a “buy” rating and set a $19.00 price target on shares of Arcutis Biotherapeutics in a report on Thursday, April 3rd. Guggenheim reaffirmed a “buy” rating on shares of Arcutis Biotherapeutics in a research report on Thursday, April 3rd. Finally, The Goldman Sachs Group lifted their price objective on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.80.

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.