Janus Henderson Group PLC Acquires 24,505 Shares of Arcutis Biotherapeutics, Inc. $ARQT

Janus Henderson Group PLC boosted its holdings in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 1.3% in the first quarter, HoldingsChannel reports. The firm owned 1,854,566 shares of the company’s stock after acquiring an additional 24,505 shares during the period. Janus Henderson Group PLC’s holdings in Arcutis Biotherapeutics were worth $43,684,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Suvretta Capital Management LLC boosted its stake in Arcutis Biotherapeutics by 14.2% in the fourth quarter. Suvretta Capital Management LLC now owns 11,964,000 shares of the company’s stock worth $347,435,000 after purchasing an additional 1,486,000 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Arcutis Biotherapeutics by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 7,253,936 shares of the company’s stock valued at $210,654,000 after buying an additional 107,846 shares in the last quarter. Polar Capital Holdings Plc increased its stake in shares of Arcutis Biotherapeutics by 4.9% in the fourth quarter. Polar Capital Holdings Plc now owns 5,556,169 shares of the company’s stock valued at $161,351,000 after buying an additional 257,415 shares in the last quarter. State Street Corp increased its stake in shares of Arcutis Biotherapeutics by 18.2% in the fourth quarter. State Street Corp now owns 5,488,301 shares of the company’s stock valued at $159,380,000 after buying an additional 846,986 shares in the last quarter. Finally, Morgan Stanley raised its holdings in shares of Arcutis Biotherapeutics by 1.5% in the fourth quarter. Morgan Stanley now owns 4,340,239 shares of the company’s stock valued at $126,041,000 after buying an additional 63,845 shares during the last quarter.

Arcutis Biotherapeutics Stock Performance

Shares of ARQT opened at $26.86 on Monday. The company has a quick ratio of 2.46, a current ratio of 2.68 and a debt-to-equity ratio of 0.54. Arcutis Biotherapeutics, Inc. has a 12-month low of $13.69 and a 12-month high of $31.77. The firm has a market capitalization of $3.36 billion, a PE ratio of -895.03 and a beta of 1.48. The stock’s fifty day simple moving average is $25.55 and its 200-day simple moving average is $24.69.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.07). The firm had revenue of $105.40 million during the quarter, compared to the consensus estimate of $103.67 million. Arcutis Biotherapeutics had a negative net margin of 0.57% and a negative return on equity of 1.41%. As a group, research analysts predict that Arcutis Biotherapeutics, Inc. will post 0.16 earnings per share for the current year.

Insider Transactions at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, Director Howard G. Welgus sold 4,096 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $24.41, for a total transaction of $99,983.36. Following the transaction, the director directly owned 38,378 shares in the company, valued at approximately $936,806.98. This represents a 9.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sue-Jean Lin sold 4,946 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $24.38, for a total transaction of $120,583.48. Following the completion of the transaction, the director directly owned 27,567 shares in the company, valued at $672,083.46. This trade represents a 15.21% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 10,334 shares of company stock worth $250,697. Corporate insiders own 9.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ARQT shares. Needham & Company LLC reiterated a “buy” rating and set a $36.00 price target on shares of Arcutis Biotherapeutics in a research report on Thursday, May 7th. Wall Street Zen raised shares of Arcutis Biotherapeutics from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a research note on Wednesday, June 24th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

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.