140,000 Shares in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Acquired by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale acquired a new position in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 140,000 shares of the company’s stock, valued at approximately $462,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. boosted its stake in Arcutis Biotherapeutics by 586.8% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 10,920 shares of the company’s stock valued at $35,000 after purchasing an additional 9,330 shares in the last quarter. SG Americas Securities LLC bought a new position in Arcutis Biotherapeutics during the 4th quarter valued at $79,000. Deutsche Bank AG boosted its stake in Arcutis Biotherapeutics by 13.7% during the 3rd quarter. Deutsche Bank AG now owns 30,362 shares of the company’s stock valued at $161,000 after purchasing an additional 3,655 shares in the last quarter. Vanguard Group Inc. boosted its stake in Arcutis Biotherapeutics by 8.6% during the 3rd quarter. Vanguard Group Inc. now owns 2,879,460 shares of the company’s stock valued at $15,290,000 after purchasing an additional 229,072 shares in the last quarter. Finally, Citigroup Inc. boosted its stake in Arcutis Biotherapeutics by 15.1% during the 3rd quarter. Citigroup Inc. now owns 176,822 shares of the company’s stock valued at $939,000 after purchasing an additional 23,234 shares in the last quarter.

Arcutis Biotherapeutics Price Performance

ARQT opened at $10.09 on Tuesday. The stock has a fifty day moving average of $9.76 and a 200-day moving average of $5.51. The firm has a market capitalization of $976.81 million, a P/E ratio of -2.57 and a beta of 1.14. Arcutis Biotherapeutics, Inc. has a 12-month low of $1.76 and a 12-month high of $15.21. The company has a quick ratio of 6.80, a current ratio of 7.08 and a debt-to-equity ratio of 2.28.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its earnings results on Tuesday, February 27th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.08). The business had revenue of $13.53 million during the quarter, compared to analysts’ expectations of $11.78 million. Arcutis Biotherapeutics had a negative net margin of 439.79% and a negative return on equity of 294.85%. During the same quarter in the previous year, the company earned ($1.18) EPS. Equities analysts forecast that Arcutis Biotherapeutics, Inc. will post -2.49 EPS for the current fiscal year.

Insider Activity

In other news, insider Masaru Matsuda sold 3,760 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $11.12, for a total value of $41,811.20. Following the completion of the sale, the insider now owns 190,424 shares in the company, valued at $2,117,514.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

ARQT has been the subject of a number of research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $16.00 price target on shares of Arcutis Biotherapeutics in a research note on Friday. The Goldman Sachs Group raised their price objective on Arcutis Biotherapeutics from $6.00 to $11.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Finally, Mizuho reissued a “buy” rating and set a $16.00 price objective (up from $8.00) on shares of Arcutis Biotherapeutics in a research note on Friday, February 23rd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Arcutis Biotherapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $26.56.

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.