Eversept Partners LP Has $12.62 Million Position in Arcutis Biotherapeutics, Inc. $ARQT

Eversept Partners LP boosted its holdings in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 289.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 434,634 shares of the company’s stock after buying an additional 323,168 shares during the period. Eversept Partners LP owned about 0.35% of Arcutis Biotherapeutics worth $12,622,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Arcutis Biotherapeutics by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 7,253,936 shares of the company’s stock valued at $210,654,000 after purchasing an additional 107,846 shares in the last quarter. Polar Capital Holdings Plc boosted its stake in shares of Arcutis Biotherapeutics by 4.9% in the 4th quarter. Polar Capital Holdings Plc now owns 5,556,169 shares of the company’s stock valued at $161,351,000 after purchasing an additional 257,415 shares in the last quarter. State Street Corp boosted its stake in shares of Arcutis Biotherapeutics by 18.2% in the 4th quarter. State Street Corp now owns 5,488,301 shares of the company’s stock valued at $159,380,000 after purchasing an additional 846,986 shares in the last quarter. Morgan Stanley boosted its stake in shares of Arcutis Biotherapeutics by 1.5% in the 4th quarter. Morgan Stanley now owns 4,340,239 shares of the company’s stock valued at $126,041,000 after purchasing an additional 63,845 shares in the last quarter. Finally, UBS Group AG boosted its stake in shares of Arcutis Biotherapeutics by 10.0% in the 4th quarter. UBS Group AG now owns 3,243,432 shares of the company’s stock valued at $94,189,000 after purchasing an additional 294,994 shares in the last quarter.

Arcutis Biotherapeutics Stock Performance

Shares of NASDAQ:ARQT opened at $26.22 on Thursday. The stock has a market capitalization of $3.28 billion, a P/E ratio of -873.71 and a beta of 1.51. Arcutis Biotherapeutics, Inc. has a 1-year low of $13.06 and a 1-year high of $31.77. The company has a current ratio of 2.68, a quick ratio of 2.46 and a debt-to-equity ratio of 0.54. The business has a 50-day moving average price of $22.68 and a two-hundred day moving average price of $25.15.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.07). The firm had revenue of $105.40 million for the quarter, compared to the consensus estimate of $103.68 million. Arcutis Biotherapeutics had a negative return on equity of 1.41% and a negative net margin of 0.57%. Equities analysts predict that Arcutis Biotherapeutics, Inc. will post 0.15 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ARQT shares. HC Wainwright boosted their target price on shares of Arcutis Biotherapeutics from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Wall Street Zen downgraded shares of Arcutis Biotherapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Guggenheim boosted their target price on shares of Arcutis Biotherapeutics from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Mizuho reduced their target price on shares of Arcutis Biotherapeutics from $37.00 to $35.00 and set an “outperform” rating on the stock in a research note on Monday, March 2nd. Finally, TD Cowen boosted their target price on shares of Arcutis Biotherapeutics from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.00.

Insider Activity

In other Arcutis Biotherapeutics news, Director Howard G. Welgus sold 4,096 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $24.41, for a total transaction of $99,983.36. Following the completion of the sale, the director directly owned 38,378 shares of the company’s stock, valued at approximately $936,806.98. The trade was a 9.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Latha Vairavan sold 1,341 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $23.61, for a total value of $31,661.01. Following the completion of the sale, the chief financial officer directly owned 86,413 shares of the company’s stock, valued at approximately $2,040,210.93. This trade represents a 1.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 40,931 shares of company stock worth $968,886. Corporate insiders own 9.40% of the company’s stock.

Arcutis Biotherapeutics Company Profile

Arcutis Biotherapeutics is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for immuno-inflammatory skin diseases. The company’s research and development efforts center on targeted treatments that address the underlying biology of conditions such as plaque psoriasis, atopic dermatitis, seborrheic dermatitis and vitiligo. Arcutis employs a precision-medicine approach to deliver topical therapies designed to improve efficacy and tolerability compared with existing treatment options.

In August 2022, Arcutis received U.S.