UBS Group AG Has $94.19 Million Stake in Arcutis Biotherapeutics, Inc. $ARQT

UBS Group AG grew its position in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 10.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 3,243,432 shares of the company’s stock after acquiring an additional 294,994 shares during the period. UBS Group AG’s holdings in Arcutis Biotherapeutics were worth $94,189,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in ARQT. AQR Capital Management LLC lifted its holdings in shares of Arcutis Biotherapeutics by 21.4% during the 1st quarter. AQR Capital Management LLC now owns 248,196 shares of the company’s stock valued at $3,882,000 after buying an additional 43,716 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Arcutis Biotherapeutics by 3.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,417 shares of the company’s stock valued at $1,118,000 after buying an additional 2,063 shares during the last quarter. Creative Planning lifted its holdings in shares of Arcutis Biotherapeutics by 8.2% during the 2nd quarter. Creative Planning now owns 19,575 shares of the company’s stock valued at $274,000 after buying an additional 1,477 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Arcutis Biotherapeutics by 1.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 548,789 shares of the company’s stock valued at $7,694,000 after buying an additional 5,407 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Arcutis Biotherapeutics by 4,562.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 11,190 shares of the company’s stock valued at $157,000 after buying an additional 10,950 shares during the last quarter.

Arcutis Biotherapeutics Stock Up 0.6%

ARQT opened at $23.35 on Friday. The business has a 50 day moving average price of $23.86 and a 200 day moving average price of $25.70. Arcutis Biotherapeutics, Inc. has a twelve month low of $12.42 and a twelve month high of $31.77. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.99 and a current ratio of 3.17. The firm has a market cap of $2.92 billion, a P/E ratio of -166.77 and a beta of 1.58.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its earnings results on Wednesday, February 25th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.10. The firm had revenue of $129.50 million during the quarter, compared to analyst estimates of $110.79 million. Arcutis Biotherapeutics had a negative return on equity of 10.26% and a negative net margin of 4.29%. Research analysts forecast that Arcutis Biotherapeutics, Inc. will post 0.18 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ARQT. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a report on Friday, March 27th. Guggenheim lifted their price target on Arcutis Biotherapeutics from $34.00 to $35.00 and gave the company a “buy” rating in a report on Friday, February 27th. Wall Street Zen lowered Arcutis Biotherapeutics from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 14th. Mizuho reduced their target price on Arcutis Biotherapeutics from $37.00 to $35.00 and set an “outperform” rating for the company in a report on Monday, March 2nd. Finally, Needham & Company LLC boosted their target price on Arcutis Biotherapeutics from $31.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.00.

Insider Buying and Selling

In other Arcutis Biotherapeutics news, insider Larry Todd Edwards sold 3,687 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $25.18, for a total value of $92,838.66. Following the transaction, the insider directly owned 175,178 shares of the company’s stock, valued at $4,410,982.04. The trade was a 2.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Todd Watanabe sold 37,349 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $25.18, for a total value of $940,447.82. Following the completion of the transaction, the insider directly owned 785,957 shares in the company, valued at approximately $19,790,397.26. This represents a 4.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 159,546 shares of company stock worth $4,032,162. 9.40% of the stock is currently owned by company insiders.

Arcutis Biotherapeutics Profile

Arcutis Biotherapeutics is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for immuno-inflammatory skin diseases. The company’s research and development efforts center on targeted treatments that address the underlying biology of conditions such as plaque psoriasis, atopic dermatitis, seborrheic dermatitis and vitiligo. Arcutis employs a precision-medicine approach to deliver topical therapies designed to improve efficacy and tolerability compared with existing treatment options.

In August 2022, Arcutis received U.S.