Candriam S.C.A. Cuts Holdings in Arcutis Biotherapeutics, Inc. $ARQT

Candriam S.C.A. reduced its position in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 0.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,035,576 shares of the company’s stock after selling 6,568 shares during the quarter. Candriam S.C.A. owned about 0.87% of Arcutis Biotherapeutics worth $16,196,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Point72 Asset Management L.P. grew its holdings in shares of Arcutis Biotherapeutics by 617.5% during the fourth quarter. Point72 Asset Management L.P. now owns 1,753,522 shares of the company’s stock valued at $24,427,000 after buying an additional 1,509,136 shares during the last quarter. Cercano Management LLC purchased a new stake in shares of Arcutis Biotherapeutics during the fourth quarter valued at $17,487,000. Millennium Management LLC grew its holdings in shares of Arcutis Biotherapeutics by 101.3% during the fourth quarter. Millennium Management LLC now owns 2,310,163 shares of the company’s stock valued at $32,181,000 after buying an additional 1,162,690 shares during the last quarter. Driehaus Capital Management LLC purchased a new stake in shares of Arcutis Biotherapeutics during the fourth quarter valued at $15,278,000. Finally, Nuveen LLC purchased a new stake in shares of Arcutis Biotherapeutics during the first quarter valued at $12,759,000.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ARQT shares. Wall Street Zen upgraded shares of Arcutis Biotherapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. The Goldman Sachs Group began coverage on shares of Arcutis Biotherapeutics in a research report on Friday, July 25th. They set a “neutral” rating and a $18.00 price target for the company. Needham & Company LLC upped their price target on shares of Arcutis Biotherapeutics from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Finally, Cowen restated a “buy” rating on shares of Arcutis Biotherapeutics in a research report on Thursday, August 7th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.80.

Arcutis Biotherapeutics Stock Performance

Shares of ARQT stock opened at $15.79 on Thursday. The firm’s 50 day moving average price is $14.61 and its 200-day moving average price is $14.26. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.04 and a current ratio of 3.20. Arcutis Biotherapeutics, Inc. has a one year low of $8.03 and a one year high of $17.75. The firm has a market cap of $1.89 billion, a P/E ratio of -21.05 and a beta of 1.84.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.05. The firm had revenue of $81.50 million for the quarter, compared to analyst estimates of $72.70 million. Arcutis Biotherapeutics had a negative net margin of 35.40% and a negative return on equity of 62.62%. As a group, equities research analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

Insiders Place Their Bets

In other Arcutis Biotherapeutics news, insider Todd Watanabe sold 11,547 shares of the firm’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $14.33, for a total transaction of $165,468.51. Following the transaction, the insider directly owned 901,569 shares of the company’s stock, valued at approximately $12,919,483.77. This trade represents a 1.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Patrick Burnett sold 3,847 shares of the firm’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $14.03, for a total transaction of $53,973.41. Following the transaction, the insider directly owned 108,999 shares in the company, valued at $1,529,255.97. The trade was a 3.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders acquired 4,914 shares of company stock worth $64,853 and sold 75,124 shares worth $1,085,164. Company insiders own 9.40% of the company’s stock.

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.