Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Shares Acquired by Voloridge Investment Management LLC

Voloridge Investment Management LLC lifted its position in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 126.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 290,938 shares of the company’s stock after buying an additional 162,495 shares during the period. Voloridge Investment Management LLC owned approximately 0.25% of Arcutis Biotherapeutics worth $4,053,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fishman Jay A Ltd. MI increased its holdings in shares of Arcutis Biotherapeutics by 28.3% during 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 during the last quarter. Barclays PLC increased its holdings 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 buying an additional 79,579 shares during the last quarter. American Century Companies Inc. increased its holdings in Arcutis Biotherapeutics by 11.4% in the 4th quarter. American Century Companies Inc. now owns 1,631,226 shares of the company’s stock valued at $22,723,000 after purchasing an additional 166,915 shares in the last quarter. Jennison Associates LLC increased its holdings in Arcutis Biotherapeutics by 5.8% in the 4th quarter. Jennison Associates LLC now owns 12,339,792 shares of the company’s stock valued at $171,893,000 after purchasing an additional 676,295 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in Arcutis Biotherapeutics in the 4th quarter valued at $1,112,000.

Arcutis Biotherapeutics Stock Up 2.3%

Shares of Arcutis Biotherapeutics stock opened at $13.98 on Tuesday. The business has a 50-day moving average of $14.51 and a 200-day moving average of $13.65. 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 company has a market capitalization of $1.67 billion, a PE ratio of -7.81 and a beta of 1.87. Arcutis Biotherapeutics, Inc. has a 1-year low of $6.99 and a 1-year high of $17.75.

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. The company had revenue of $65.85 million during the quarter, compared to the consensus estimate of $64.80 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. As a group, equities analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current fiscal year.

Insider Activity

In other news, insider Patrick Burnett sold 2,819 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $13.03, for a total transaction of $36,731.57. Following the completion of the sale, the insider now directly owns 167,043 shares in the company, valued at $2,176,570.29. This trade represents a 1.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Todd Franklin Watanabe sold 1,500 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $17.52, for a total transaction of $26,280.00. Following the transaction, the insider now directly owns 927,414 shares in the company, valued at $16,248,293.28. The trade was a 0.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,113 shares of company stock worth $632,162 over the last ninety days. Corporate insiders own 9.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Guggenheim reiterated a “buy” rating on shares of Arcutis Biotherapeutics in a report on Thursday, April 3rd. The Goldman Sachs Group increased their price target on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Thursday, February 27th. HC Wainwright reiterated a “buy” rating and issued a $19.00 price target on shares of Arcutis Biotherapeutics in a report on Thursday, April 3rd. Mizuho increased their price target on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Finally, Jefferies Financial Group increased their price target on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, March 11th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $18.80.

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.