Los Angeles Capital Management LLC Sells 94,310 Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Los Angeles Capital Management LLC decreased its holdings in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 75.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,793 shares of the company’s stock after selling 94,310 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Arcutis Biotherapeutics were worth $429,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Point72 DIFC Ltd bought a new position in shares of Arcutis Biotherapeutics in the third quarter valued at about $25,000. Venturi Wealth Management LLC acquired a new position in Arcutis Biotherapeutics in the 4th quarter valued at about $46,000. Erste Asset Management GmbH acquired a new stake in Arcutis Biotherapeutics during the third quarter worth approximately $104,000. Victory Capital Management Inc. lifted its position in Arcutis Biotherapeutics by 9.9% during the third quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock worth $119,000 after acquiring an additional 1,155 shares during the last quarter. Finally, Creative Planning acquired a new position in shares of Arcutis Biotherapeutics in the third quarter valued at approximately $127,000.

Insider Buying and Selling at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, Director Howard G. Welgus sold 10,000 shares of Arcutis Biotherapeutics stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.67, for a total value of $146,700.00. Following the transaction, the director now owns 151,944 shares in the company, valued at $2,229,018.48. The trade was a 6.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Masaru Matsuda sold 8,338 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $12.70, for a total value of $105,892.60. Following the transaction, the insider now directly owns 178,692 shares of the company’s stock, valued at approximately $2,269,388.40. The trade was a 4.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 45,029 shares of company stock worth $630,917 over the last three months. Corporate insiders own 9.50% of the company’s stock.

Arcutis Biotherapeutics Stock Down 6.3 %

ARQT stock opened at $12.83 on Tuesday. Arcutis Biotherapeutics, Inc. has a 52 week low of $6.99 and a 52 week high of $16.20. The business has a 50-day simple moving average of $13.53 and a 200 day simple moving average of $11.48. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67. The company has a market cap of $1.52 billion, a PE ratio of -7.17 and a beta of 1.29.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its 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 company had revenue of $71.36 million during the quarter, compared to analysts’ expectations of $60.52 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. Sell-side analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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