Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. lessened its holdings in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 57.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,000 shares of the company’s stock after selling 28,191 shares during the quarter. Vontobel Holding Ltd.’s holdings in Arcutis Biotherapeutics were worth $68,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in ARQT. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Arcutis Biotherapeutics by 586.8% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,920 shares of the company’s stock worth $35,000 after purchasing an additional 9,330 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Arcutis Biotherapeutics during the third quarter worth $60,000. SG Americas Securities LLC acquired a new stake in shares of Arcutis Biotherapeutics during the fourth quarter worth $79,000. Jump Financial LLC acquired a new stake in shares of Arcutis Biotherapeutics during the third quarter worth $108,000. Finally, Deutsche Bank AG boosted its holdings in shares of Arcutis Biotherapeutics by 13.7% during the third quarter. Deutsche Bank AG now owns 30,362 shares of the company’s stock worth $161,000 after purchasing an additional 3,655 shares during the last quarter.

Insider Buying and Selling at Arcutis Biotherapeutics

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ARQT shares. Mizuho restated a “buy” rating and set a $16.00 price objective (up previously from $8.00) on shares of Arcutis Biotherapeutics in a report on Friday, February 23rd. Needham & Company LLC restated a “buy” rating and set a $16.00 price objective on shares of Arcutis Biotherapeutics in a report on Friday, April 12th. Finally, 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 report on Wednesday, February 28th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $26.56.

Arcutis Biotherapeutics Trading Up 0.1 %

NASDAQ:ARQT opened at $8.75 on Thursday. The business’s 50-day moving average is $10.14 and its two-hundred day moving average is $5.71. The company has a debt-to-equity ratio of 2.28, a current ratio of 7.08 and a quick ratio of 6.80. Arcutis Biotherapeutics, Inc. has a 12 month low of $1.76 and a 12 month high of $15.21. The firm has a market capitalization of $847.09 million, a PE ratio of -2.23 and a beta of 1.14.

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

Arcutis Biotherapeutics Company 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.