Gilder Gagnon Howe & Co. LLC Boosts Stake in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Gilder Gagnon Howe & Co. LLC grew its holdings in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 9.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,902,991 shares of the company’s stock after purchasing an additional 349,153 shares during the period. Gilder Gagnon Howe & Co. LLC owned approximately 3.33% of Arcutis Biotherapeutics worth $54,369,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Summit Investment Advisors Inc. lifted its position in Arcutis Biotherapeutics by 8.0% in the fourth quarter. Summit Investment Advisors Inc. now owns 11,245 shares of the company’s stock valued at $157,000 after buying an additional 837 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of Arcutis Biotherapeutics by 10.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 24,818 shares of the company’s stock valued at $346,000 after acquiring an additional 2,336 shares during the period. Venturi Wealth Management LLC acquired a new position in shares of Arcutis Biotherapeutics in the 4th quarter worth approximately $46,000. Swiss National Bank boosted its position in shares of Arcutis Biotherapeutics by 1.6% during the 4th quarter. Swiss National Bank now owns 206,900 shares of the company’s stock worth $2,882,000 after purchasing an additional 3,300 shares during the period. Finally, MetLife Investment Management LLC increased its holdings in Arcutis Biotherapeutics by 6.2% in the 4th quarter. MetLife Investment Management LLC now owns 65,471 shares of the company’s stock valued at $912,000 after purchasing an additional 3,813 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ARQT shares. Jefferies Financial Group lifted their price objective on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. HC Wainwright restated a “buy” rating and set a $19.00 target price on shares of Arcutis Biotherapeutics in a report on Thursday, April 3rd. Mizuho boosted their price target 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. The Goldman Sachs Group raised 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. Finally, Needham & Company LLC restated a “buy” rating and issued a $20.00 price objective on shares of Arcutis Biotherapeutics in a report on Wednesday, April 9th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.80.

Insider Activity

In other news, insider Patrick Burnett sold 12,242 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $15.04, for a total value of $184,119.68. Following the transaction, the insider now owns 121,936 shares in the company, valued at approximately $1,833,917.44. This represents a 9.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Todd Franklin Watanabe sold 1,500 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $17.52, for a total value of $26,280.00. Following the sale, the insider now directly owns 927,414 shares in the company, valued at $16,248,293.28. This trade represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,099 shares of company stock worth $631,256. 9.50% of the stock is currently owned by corporate insiders.

Arcutis Biotherapeutics Price Performance

ARQT stock opened at $14.61 on Friday. The business’s 50-day moving average is $14.48 and its two-hundred day moving average is $12.85. 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 $1.73 billion, a P/E ratio of -8.16 and a beta of 1.67. Arcutis Biotherapeutics, Inc. has a 1 year low of $6.99 and a 1 year high of $17.75.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share 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 firm had revenue of $71.36 million for the quarter, compared to analyst estimates of $60.52 million. Analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current fiscal year.

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.