Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Stock Holdings Lifted by Keybank National Association OH

Keybank National Association OH lifted its position in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 22.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 52,204 shares of the company’s stock after acquiring an additional 9,680 shares during the period. Keybank National Association OH’s holdings in Arcutis Biotherapeutics were worth $727,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Point72 DIFC Ltd purchased a new position in shares of Arcutis Biotherapeutics in the third quarter worth approximately $25,000. Venturi Wealth Management LLC purchased a new position in shares of Arcutis Biotherapeutics in the fourth quarter worth approximately $46,000. Erste Asset Management GmbH purchased a new position in shares of Arcutis Biotherapeutics in the third quarter worth approximately $104,000. LVW Advisors LLC purchased a new position in shares of Arcutis Biotherapeutics in the fourth quarter worth approximately $166,000. Finally, Victory Capital Management Inc. increased its position in shares of Arcutis Biotherapeutics by 9.9% in 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 in the last quarter.

Arcutis Biotherapeutics Price Performance

NASDAQ ARQT opened at $14.72 on Friday. 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 stock has a market capitalization of $1.75 billion, a PE ratio of -8.22 and a beta of 1.48. The company has a 50 day moving average price of $13.45 and a two-hundred day moving average price of $11.65. Arcutis Biotherapeutics, Inc. has a 12-month low of $6.99 and a 12-month high of $16.20.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.19. The firm 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%. As a group, equities analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Arcutis Biotherapeutics

In other news, Director Howard G. Welgus sold 10,000 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $13.00, for a total value of $130,000.00. Following the completion of the sale, the director now directly owns 131,944 shares in the company, valued at approximately $1,715,272. The trade was a 7.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Patrick Burnett sold 2,819 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was 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 of the company’s stock, valued at $2,176,570.29. The trade was a 1.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 57,848 shares of company stock worth $797,648 over the last ninety days. 9.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on ARQT shares. Guggenheim restated a “buy” rating on shares of Arcutis Biotherapeutics in a report on Monday, February 24th. HC Wainwright restated a “buy” rating and set a $19.00 price target on shares of Arcutis Biotherapeutics in a report on Wednesday, February 26th. The Goldman Sachs Group raised their price target on shares of Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, February 27th. 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 report on Wednesday, February 26th. Finally, Needham & Company LLC restated a “buy” rating and set a $20.00 price target on shares of Arcutis Biotherapeutics in a report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.00.

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.