MetLife Investment Management LLC Acquires 3,813 Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

MetLife Investment Management LLC lifted its holdings in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 6.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,471 shares of the company’s stock after purchasing an additional 3,813 shares during the period. MetLife Investment Management LLC owned about 0.06% of Arcutis Biotherapeutics worth $912,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ARQT. Barclays PLC increased its holdings in Arcutis Biotherapeutics by 45.8% during the third quarter. Barclays PLC now owns 253,392 shares of the company’s stock worth $2,356,000 after buying an additional 79,579 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Arcutis Biotherapeutics by 0.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,296,911 shares of the company’s stock worth $12,061,000 after purchasing an additional 11,833 shares during the last quarter. LVW Advisors LLC bought a new stake in shares of Arcutis Biotherapeutics in the 4th quarter worth approximately $166,000. SG Americas Securities LLC lifted its stake in Arcutis Biotherapeutics by 25.4% in the fourth quarter. SG Americas Securities LLC now owns 48,087 shares of the company’s stock valued at $670,000 after purchasing an additional 9,754 shares during the last quarter. Finally, Zweig DiMenna Associates LLC bought a new position in Arcutis Biotherapeutics during the fourth quarter valued at $578,000.

Analysts Set New Price Targets

A number of research analysts have recently commented on ARQT shares. HC Wainwright reaffirmed a “buy” rating and set a $19.00 price target on shares of Arcutis Biotherapeutics in a research report on Thursday, April 3rd. Mizuho upped their price objective on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. The Goldman Sachs Group lifted their target price on shares of Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday, February 27th. Jefferies Financial Group upped their price target on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Arcutis Biotherapeutics in a report on Thursday, April 3rd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $18.80.

Insider Buying and Selling

In other Arcutis Biotherapeutics news, insider Todd Franklin Watanabe sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $17.52, for a total value of $26,280.00. Following the completion of the transaction, the insider now owns 927,414 shares of the company’s stock, valued at $16,248,293.28. The trade was a 0.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Masaru Matsuda sold 8,338 shares of Arcutis Biotherapeutics stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $12.70, for a total transaction of $105,892.60. Following the sale, the insider now directly owns 178,692 shares of the company’s stock, valued at $2,269,388.40. This represents a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,099 shares of company stock worth $631,256 over the last ninety days. 9.50% of the stock is owned by corporate insiders.

Arcutis Biotherapeutics Trading Up 4.0 %

Shares of Arcutis Biotherapeutics stock opened at $15.24 on Friday. The company’s 50-day moving average price is $14.69 and its 200-day moving average price is $13.03. The company has a market cap of $1.81 billion, a price-to-earnings ratio of -8.51 and a beta of 1.67. Arcutis Biotherapeutics, Inc. has a 12-month low of $6.99 and a 12-month high of $17.75. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.19. The firm had revenue of $71.36 million during the quarter, compared to the consensus estimate of $60.52 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. On average, equities analysts expect that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current fiscal year.

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.