Arcutis Biotherapeutics, Inc. $ARQT Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund trimmed its position in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 29.3% during the first quarter, Holdings Channel reports. The firm owned 636,200 shares of the company’s stock after selling 263,800 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Arcutis Biotherapeutics were worth $14,989,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. increased its position in shares of Arcutis Biotherapeutics by 325.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,089 shares of the company’s stock valued at $32,000 after buying an additional 833 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in shares of Arcutis Biotherapeutics in the 4th quarter worth about $35,000. EverSource Wealth Advisors LLC boosted its position in shares of Arcutis Biotherapeutics by 124.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the company’s stock worth $37,000 after buying an additional 698 shares in the last quarter. NewEdge Advisors LLC grew its stake in Arcutis Biotherapeutics by 209.0% in the 4th quarter. NewEdge Advisors LLC now owns 1,545 shares of the company’s stock valued at $45,000 after acquiring an additional 1,045 shares during the last quarter. Finally, Truvestments Capital LLC grew its stake in Arcutis Biotherapeutics by 114.2% in the 4th quarter. Truvestments Capital LLC now owns 3,012 shares of the company’s stock valued at $87,000 after acquiring an additional 1,606 shares during the last quarter.

Arcutis Biotherapeutics Stock Performance

NASDAQ ARQT opened at $27.84 on Tuesday. The company has a quick ratio of 2.46, a current ratio of 2.68 and a debt-to-equity ratio of 0.54. Arcutis Biotherapeutics, Inc. has a fifty-two week low of $13.69 and a fifty-two week high of $31.77. The business has a fifty day moving average of $24.97 and a 200-day moving average of $24.71. The stock has a market cap of $3.48 billion, a price-to-earnings ratio of -927.69 and a beta of 1.48.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). The company had revenue of $105.40 million for the quarter, compared to analyst estimates of $103.67 million. Arcutis Biotherapeutics had a negative net margin of 0.57% and a negative return on equity of 1.41%. As a group, analysts predict that Arcutis Biotherapeutics, Inc. will post 0.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Wall Street Zen upgraded shares of Arcutis Biotherapeutics from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a research report on Wednesday, June 24th. Finally, Needham & Company LLC reissued a “buy” rating and set a $36.00 price objective on shares of Arcutis Biotherapeutics in a research note on Thursday, May 7th. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

Insider Buying and Selling

In other Arcutis Biotherapeutics news, Director Howard G. Welgus sold 7,144 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $22.99, for a total value of $164,240.56. Following the transaction, the director directly owned 32,600 shares in the company, valued at approximately $749,474. This represents a 17.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Todd Watanabe sold 3,172 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $23.61, for a total transaction of $74,890.92. Following the sale, the insider directly owned 720,755 shares in the company, valued at $17,017,025.55. This represents a 0.44% 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. Insiders sold 30,931 shares of company stock worth $730,086 in the last 90 days. 9.40% of the stock is currently owned by corporate insiders.

Arcutis Biotherapeutics 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.