Polar Capital Holdings Plc Raises Stock Holdings in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Polar Capital Holdings Plc raised its holdings in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 7.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 7,377,381 shares of the company’s stock after buying an additional 493,009 shares during the period. Polar Capital Holdings Plc owned about 0.06% of Arcutis Biotherapeutics worth $102,767,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Barclays PLC grew its position in shares of 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 in the last quarter. LVW Advisors LLC acquired a new stake in Arcutis Biotherapeutics in the fourth quarter valued at $166,000. SG Americas Securities LLC boosted its stake in Arcutis Biotherapeutics by 25.4% during the 4th quarter. SG Americas Securities LLC now owns 48,087 shares of the company’s stock valued at $670,000 after acquiring an additional 9,754 shares during the last quarter. Zweig DiMenna Associates LLC acquired a new position in Arcutis Biotherapeutics during the 4th quarter worth $578,000. Finally, China Universal Asset Management Co. Ltd. increased its position 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 worth $346,000 after purchasing an additional 2,336 shares during the last quarter.

Insider Activity at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, insider Masaru Matsuda sold 5,030 shares of the company’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $15.20, for a total value of $76,456.00. Following the completion of the transaction, the insider now owns 204,399 shares in the company, valued at approximately $3,106,864.80. This represents a 2.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Patrick Burnett sold 2,819 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 167,043 shares in the company, valued at $2,176,570.29. The trade was a 1.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,662 shares of company stock worth $527,326 in the last 90 days. 9.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ARQT shares. Guggenheim restated a “buy” rating on shares of Arcutis Biotherapeutics in a research note on Thursday, April 3rd. The Goldman Sachs Group upped their price objective on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, February 27th. HC Wainwright reaffirmed 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 Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Finally, Needham & Company LLC reissued a “buy” rating and set a $20.00 price target on shares of Arcutis Biotherapeutics in a research report on Wednesday, April 9th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.80.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ:ARQT opened at $13.60 on Thursday. The company has a market cap of $1.62 billion, a PE ratio of -7.60 and a beta of 1.87. Arcutis Biotherapeutics, Inc. has a fifty-two week low of $6.99 and a fifty-two week high of $17.75. The firm has a 50-day simple moving average of $14.73 and a 200 day simple moving average of $13.32. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its earnings results on Tuesday, May 6th. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.01. The company had revenue of $65.85 million during the quarter, compared to analyst estimates of $64.80 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. On average, sell-side analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

Arcutis Biotherapeutics Company 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.