Candriam S.C.A. Lowers Stake in Arcutis Biotherapeutics, Inc. $ARQT

Candriam S.C.A. lowered its holdings in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 23.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 790,435 shares of the company’s stock after selling 245,141 shares during the period. Candriam S.C.A. owned approximately 0.66% of Arcutis Biotherapeutics worth $11,082,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nkcfo LLC bought a new stake in shares of Arcutis Biotherapeutics in the 1st quarter worth approximately $109,000. Allostery Investments LP purchased a new position in Arcutis Biotherapeutics during the first quarter valued at $117,000. PNC Financial Services Group Inc. boosted its holdings in Arcutis Biotherapeutics by 10.2% in the second quarter. PNC Financial Services Group Inc. now owns 8,828 shares of the company’s stock worth $124,000 after acquiring an additional 820 shares in the last quarter. Atlas Wealth LLC purchased a new stake in shares of Arcutis Biotherapeutics in the second quarter worth $138,000. Finally, Baader Bank Aktiengesellschaft bought a new position in shares of Arcutis Biotherapeutics during the first quarter valued at $156,000.

Arcutis Biotherapeutics Trading Up 9.4%

Shares of ARQT stock opened at $25.00 on Friday. Arcutis Biotherapeutics, Inc. has a 12-month low of $8.90 and a 12-month high of $27.08. The company has a current ratio of 3.50, a quick ratio of 3.28 and a debt-to-equity ratio of 0.68. The firm’s 50 day moving average is $20.58 and its 200 day moving average is $16.65. The stock has a market capitalization of $3.06 billion, a P/E ratio of -69.44 and a beta of 1.97.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its earnings results on Tuesday, October 28th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.16. The business had revenue of $99.22 million during the quarter, compared to analyst estimates of $86.69 million. Arcutis Biotherapeutics had a negative net margin of 13.94% and a negative return on equity of 29.69%. Research analysts expect that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current year.

Insider Buying and Selling

In other Arcutis Biotherapeutics news, insider Patrick Burnett sold 17,250 shares of the firm’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $24.18, for a total value of $417,105.00. Following the transaction, the insider directly owned 98,325 shares of the company’s stock, valued at approximately $2,377,498.50. This trade represents a 14.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Todd Watanabe sold 40,000 shares of the business’s stock in a transaction dated Tuesday, October 28th. The shares were sold at an average price of $25.03, for a total value of $1,001,200.00. Following the sale, the insider owned 806,440 shares of the company’s stock, valued at approximately $20,185,193.20. This represents a 4.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 241,661 shares of company stock valued at $5,174,398 in the last 90 days. Insiders own 9.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ARQT shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Arcutis Biotherapeutics in a research note on Tuesday, October 14th. Cowen reiterated a “buy” rating on shares of Arcutis Biotherapeutics in a research note on Thursday, August 7th. Wall Street Zen raised shares of Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 1st. HC Wainwright restated a “buy” rating and issued a $30.00 price objective on shares of Arcutis Biotherapeutics in a report on Wednesday, October 29th. Finally, Mizuho set a $32.00 target price on Arcutis Biotherapeutics in a research note on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Arcutis Biotherapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

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.