Stempoint Capital LP Buys 189,052 Shares of Arcutis Biotherapeutics, Inc. $ARQT

Stempoint Capital LP lifted its stake in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 84.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 413,792 shares of the company’s stock after buying an additional 189,052 shares during the period. Arcutis Biotherapeutics comprises about 1.9% of Stempoint Capital LP’s holdings, making the stock its 15th largest position. Stempoint Capital LP’s holdings in Arcutis Biotherapeutics were worth $9,749,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of ARQT. Janus Henderson Group PLC lifted its stake in Arcutis Biotherapeutics by 1.3% during the 1st quarter. Janus Henderson Group PLC now owns 1,854,566 shares of the company’s stock valued at $43,684,000 after acquiring an additional 24,505 shares in the last quarter. Amundi purchased a new position in Arcutis Biotherapeutics during the 1st quarter worth $214,000. California State Teachers Retirement System grew its stake in shares of Arcutis Biotherapeutics by 25.3% in the 1st quarter. California State Teachers Retirement System now owns 128,317 shares of the company’s stock worth $3,023,000 after acquiring an additional 25,878 shares in the last quarter. Eversept Partners LP raised its holdings in shares of Arcutis Biotherapeutics by 32.7% in the first quarter. Eversept Partners LP now owns 576,580 shares of the company’s stock valued at $13,584,000 after purchasing an additional 141,946 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Arcutis Biotherapeutics by 300.0% in the first quarter. The Manufacturers Life Insurance Company now owns 503,856 shares of the company’s stock valued at $11,871,000 after purchasing an additional 377,877 shares during the last quarter.

Insider Buying and Selling at Arcutis Biotherapeutics

In related news, Director Howard G. Welgus sold 4,096 shares of the firm’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 completion of the sale, the director owned 38,378 shares in the company, valued at approximately $936,806.98. This trade represents a 9.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Masaru Matsuda sold 8,256 shares of Arcutis Biotherapeutics stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $23.31, for a total transaction of $192,447.36. Following the completion of the sale, the insider directly owned 126,689 shares in the company, valued at approximately $2,953,120.59. This represents a 6.12% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 30,931 shares of company stock valued at $730,086 in the last three months. 9.40% of the stock is owned by corporate insiders.

Arcutis Biotherapeutics Stock Down 2.0%

Shares of NASDAQ:ARQT opened at $27.86 on Thursday. The company has a market capitalization of $3.48 billion, a PE ratio of -928.36 and a beta of 1.48. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.68 and a quick ratio of 2.46. The business has a fifty day moving average price of $25.29 and a two-hundred day moving average price of $24.69. Arcutis Biotherapeutics, Inc. has a 1 year low of $13.69 and a 1 year high of $31.77.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its 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 business had revenue of $105.40 million for the quarter, compared to analysts’ expectations of $103.67 million. Arcutis Biotherapeutics had a negative net margin of 0.57% and a negative return on equity of 1.41%. Analysts forecast that Arcutis Biotherapeutics, Inc. will post 0.16 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on ARQT. Wall Street Zen upgraded shares of Arcutis Biotherapeutics from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Needham & Company LLC reiterated a “buy” rating and issued a $36.00 price objective on shares of Arcutis Biotherapeutics in a research note on Thursday, May 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a research report on Wednesday, June 24th. Five equities research 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.