Nkcfo LLC Purchases Shares of 7,000 Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Nkcfo LLC bought a new position in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) during the 1st quarter, Holdings Channel.com reports. The firm bought 7,000 shares of the company’s stock, valued at approximately $109,000.

Other hedge funds have also recently made changes to their positions in the company. Teacher Retirement System of Texas grew its stake in shares of Arcutis Biotherapeutics by 19.5% in the fourth quarter. Teacher Retirement System of Texas now owns 31,216 shares of the company’s stock worth $435,000 after acquiring an additional 5,087 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Arcutis Biotherapeutics by 11.4% in the fourth quarter. American Century Companies Inc. now owns 1,631,226 shares of the company’s stock worth $22,723,000 after purchasing an additional 166,915 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Arcutis Biotherapeutics during the 4th quarter valued at about $337,000. Prudential Financial Inc. boosted its stake in Arcutis Biotherapeutics by 3.5% during the fourth quarter. Prudential Financial Inc. now owns 592,565 shares of the company’s stock worth $8,254,000 after buying an additional 19,950 shares during the period. Finally, Norges Bank bought a new position in shares of Arcutis Biotherapeutics during the fourth quarter valued at approximately $7,422,000.

Arcutis Biotherapeutics Stock Performance

Shares of ARQT stock opened at $14.86 on Monday. The stock has a fifty day moving average price of $14.12 and a 200 day moving average price of $14.06. The stock has a market cap of $1.77 billion, a PE ratio of -14.29 and a beta of 1.77. The company has a debt-to-equity ratio of 0.75, a quick ratio of 3.37 and a current ratio of 3.55. Arcutis Biotherapeutics, Inc. has a 1 year low of $7.86 and a 1 year high of $17.75.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its earnings results on Tuesday, May 6th. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.01. The firm had revenue of $65.85 million during the quarter, compared to analyst estimates of $64.80 million. Arcutis Biotherapeutics had a negative return on equity of 80.66% and a negative net margin of 60.95%. Sell-side analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current fiscal year.

Insider Activity at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, Director Patrick J. Heron acquired 2,646 shares of the firm’s stock in a transaction on Friday, June 13th. The stock was purchased at an average price of $13.08 per share, with a total value of $34,609.68. Following the completion of the acquisition, the director directly owned 27,448 shares in the company, valued at $359,019.84. This trade represents a 10.67% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Masaru Matsuda sold 5,030 shares of the business’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $15.20, for a total transaction of $76,456.00. Following the transaction, the insider directly owned 204,399 shares of the company’s stock, valued at $3,106,864.80. The trade was a 2.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders bought 7,434 shares of company stock worth $99,277 and sold 57,041 shares worth $827,063. Corporate insiders own 9.40% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on ARQT. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price target on shares of Arcutis Biotherapeutics in a research report on Friday, May 23rd. HC Wainwright reissued a “buy” rating and set a $19.00 target price on shares of Arcutis Biotherapeutics in a research note on Thursday, April 3rd. Guggenheim restated a “buy” rating on shares of Arcutis Biotherapeutics in a research report on Thursday, April 3rd. Finally, The Goldman Sachs Group assumed coverage on Arcutis Biotherapeutics in a research note on Friday. They issued a “neutral” rating and a $18.00 price target on the stock. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Arcutis Biotherapeutics has an average rating of “Moderate Buy” and a consensus price target of $19.40.

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.