E Fund Management Co. Ltd. Trims Stock Holdings in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

E Fund Management Co. Ltd. lowered its holdings in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 16.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,879 shares of the company’s stock after selling 2,906 shares during the period. E Fund Management Co. Ltd.’s holdings in Arcutis Biotherapeutics were worth $207,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Point72 DIFC Ltd purchased a new position in Arcutis Biotherapeutics in the 3rd quarter valued at approximately $25,000. Venturi Wealth Management LLC bought a new position in shares of Arcutis Biotherapeutics in the fourth quarter worth $46,000. Erste Asset Management GmbH purchased a new position in shares of Arcutis Biotherapeutics in the third quarter valued at $104,000. Victory Capital Management Inc. raised its stake in shares of Arcutis Biotherapeutics by 9.9% during the 3rd quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock valued at $119,000 after purchasing an additional 1,155 shares during the period. Finally, Creative Planning purchased a new stake in Arcutis Biotherapeutics during the 3rd quarter worth about $127,000.

Wall Street Analysts Forecast Growth

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

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ:ARQT opened at $14.72 on Monday. The company’s fifty day moving average price is $13.45 and its 200-day moving average price is $11.68. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of -8.22 and a beta of 1.48. Arcutis Biotherapeutics, Inc. has a one year low of $6.99 and a one year high of $16.20.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.19. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. The business had revenue of $71.36 million for the quarter, compared to the consensus estimate of $60.52 million. On average, equities research analysts anticipate 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 Howard G. Welgus sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.67, for a total transaction of $146,700.00. Following the transaction, the director now directly owns 151,944 shares in the company, valued at $2,229,018.48. This trade represents a 6.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Todd Franklin Watanabe sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $15.17, for a total transaction of $227,550.00. Following the completion of the sale, the insider now owns 823,430 shares of the company’s stock, valued at approximately $12,491,433.10. The trade was a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 57,848 shares of company stock valued at $797,648. Corporate insiders own 9.50% of the company’s stock.

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.