Jefferies Financial Group Inc. Lowers Stock Holdings in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Jefferies Financial Group Inc. trimmed its position in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 14.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 109,900 shares of the company’s stock after selling 18,280 shares during the quarter. Jefferies Financial Group Inc. owned 0.09% of Arcutis Biotherapeutics worth $1,531,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Venturi Wealth Management LLC purchased a new position in Arcutis Biotherapeutics during the 4th quarter valued at about $46,000. Cibc World Markets Corp acquired a new stake in shares of Arcutis Biotherapeutics during the 4th quarter worth about $140,000. Summit Investment Advisors Inc. raised its position in shares of Arcutis Biotherapeutics by 8.0% during the 4th quarter. Summit Investment Advisors Inc. now owns 11,245 shares of the company’s stock worth $157,000 after acquiring an additional 837 shares in the last quarter. LVW Advisors LLC acquired a new stake in shares of Arcutis Biotherapeutics during the 4th quarter worth about $166,000. Finally, Syon Capital LLC acquired a new stake in shares of Arcutis Biotherapeutics during the 4th quarter worth about $189,000.

Insider Buying and Selling at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, Director Howard G. Welgus sold 10,000 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $13.00, for a total value of $130,000.00. Following the transaction, the director now directly owns 131,944 shares in the company, valued at approximately $1,715,272. This trade represents a 7.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Todd Franklin Watanabe sold 1,500 shares of Arcutis Biotherapeutics stock in a transaction that occurred 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. This trade represents a 0.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,662 shares of company stock worth $527,326. 9.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ARQT shares. Needham & Company LLC reissued a “buy” rating and set a $20.00 target price on shares of Arcutis Biotherapeutics in a research report on Wednesday, April 9th. The Goldman Sachs Group lifted their price target on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Thursday, February 27th. Mizuho lifted their price target on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. HC Wainwright reaffirmed a “buy” rating and set a $19.00 price target on shares of Arcutis Biotherapeutics in a research report on Thursday, April 3rd. Finally, Guggenheim reaffirmed a “buy” rating on shares of Arcutis Biotherapeutics in a research report on Thursday, April 3rd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Arcutis Biotherapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.80.

Arcutis Biotherapeutics Trading Down 1.6%

Shares of ARQT stock opened at $13.60 on Thursday. The business’s 50 day moving average is $14.73 and its two-hundred day moving average is $13.32. Arcutis Biotherapeutics, Inc. has a twelve month low of $6.99 and a twelve month high of $17.75. The company has a market capitalization of $1.62 billion, a P/E ratio of -7.60 and a beta of 1.87. 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) last announced its earnings results on Tuesday, May 6th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.01. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. The company had revenue of $65.85 million for the quarter, compared to the consensus estimate of $64.80 million. Equities analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current 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.