Candriam S.C.A. Decreases Stock Holdings in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Candriam S.C.A. lessened its stake in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 26.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,042,144 shares of the company’s stock after selling 384,352 shares during the quarter. Candriam S.C.A. owned about 0.89% of Arcutis Biotherapeutics worth $14,517,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in ARQT. Suvretta Capital Management LLC increased its position in shares of Arcutis Biotherapeutics by 7.2% during the 3rd quarter. Suvretta Capital Management LLC now owns 10,721,511 shares of the company’s stock valued at $99,710,000 after purchasing an additional 717,019 shares during the last quarter. Fishman Jay A Ltd. MI raised its position in Arcutis Biotherapeutics by 28.3% in the fourth quarter. Fishman Jay A Ltd. MI now owns 536,400 shares of the company’s stock worth $7,472,000 after acquiring an additional 118,400 shares during the period. GSA Capital Partners LLP boosted its stake in shares of Arcutis Biotherapeutics by 730.0% during the 3rd quarter. GSA Capital Partners LLP now owns 237,174 shares of the company’s stock worth $2,206,000 after acquiring an additional 208,599 shares during the last quarter. Rubric Capital Management LP grew its position in shares of Arcutis Biotherapeutics by 11.7% during the 3rd quarter. Rubric Capital Management LP now owns 10,966,672 shares of the company’s stock valued at $101,990,000 after acquiring an additional 1,150,000 shares during the period. Finally, Algert Global LLC raised its holdings in Arcutis Biotherapeutics by 595.9% in the 3rd quarter. Algert Global LLC now owns 72,480 shares of the company’s stock worth $674,000 after purchasing an additional 62,065 shares during the period.

Insider Transactions at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, insider Masaru Matsuda sold 8,338 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $12.70, for a total transaction of $105,892.60. Following the completion of the transaction, the insider now directly owns 178,692 shares in the company, valued at approximately $2,269,388.40. This represents a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Patrick Burnett sold 2,819 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $13.03, for a total transaction of $36,731.57. Following the transaction, the insider now directly owns 167,043 shares in the company, valued at approximately $2,176,570.29. The trade was a 1.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 57,848 shares of company stock valued at $797,648 in the last three months. 9.50% of the stock is currently owned by company insiders.

Arcutis Biotherapeutics Stock Down 1.9 %

Arcutis Biotherapeutics stock opened at $14.50 on Friday. Arcutis Biotherapeutics, Inc. has a fifty-two week low of $6.99 and a fifty-two week high of $16.20. The business’s 50-day simple moving average is $13.45 and its two-hundred day simple moving average is $11.57. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46. The company has a market cap of $1.72 billion, a PE ratio of -8.10 and a beta of 1.48.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.19. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. The business had revenue of $71.36 million for the quarter, compared to analysts’ expectations of $60.52 million. Equities analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

Analyst Upgrades and Downgrades

ARQT has been the subject of a number of analyst reports. The Goldman Sachs Group upped their price target on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and issued a $20.00 price objective on shares of Arcutis Biotherapeutics in a research note on Wednesday, February 26th. Mizuho increased their price target on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. HC Wainwright reissued a “buy” rating and set a $19.00 target price on shares of Arcutis Biotherapeutics in a research note on Wednesday, February 26th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Arcutis Biotherapeutics in a report on Monday, February 24th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Arcutis Biotherapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

About Arcutis Biotherapeutics

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.