Campbell & CO Investment Adviser LLC Lowers Holdings in Arcutis Biotherapeutics, Inc. $ARQT

Campbell & CO Investment Adviser LLC trimmed its stake in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 78.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,149 shares of the company’s stock after selling 59,050 shares during the quarter. Campbell & CO Investment Adviser LLC’s holdings in Arcutis Biotherapeutics were worth $226,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Arcutis Biotherapeutics by 5.9% in the 1st quarter. Vanguard Group Inc. now owns 6,818,078 shares of the company’s stock worth $106,635,000 after purchasing an additional 377,363 shares during the last quarter. American Century Companies Inc. increased its stake in Arcutis Biotherapeutics by 1.3% during the 1st quarter. American Century Companies Inc. now owns 1,652,492 shares of the company’s stock valued at $25,845,000 after purchasing an additional 21,266 shares in the last quarter. Paradigm Biocapital Advisors LP purchased a new position in Arcutis Biotherapeutics in the first quarter worth about $22,918,000. Invesco Ltd. lifted its stake in shares of Arcutis Biotherapeutics by 18.0% in the first quarter. Invesco Ltd. now owns 1,328,954 shares of the company’s stock worth $20,785,000 after buying an additional 202,286 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Arcutis Biotherapeutics during the first quarter valued at approximately $12,759,000.

Insider Buying and Selling at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, Director Howard G. Welgus sold 10,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $25.27, for a total value of $252,700.00. Following the transaction, the director directly owned 89,744 shares in the company, valued at approximately $2,267,830.88. This trade represents a 10.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Neha Krishnamohan sold 40,504 shares of Arcutis Biotherapeutics stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $23.20, for a total transaction of $939,692.80. Following the transaction, the director owned 22,123 shares in the company, valued at $513,253.60. This represents a 64.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 280,415 shares of company stock valued at $6,085,811 in the last quarter. Insiders own 9.40% of the company’s stock.

Arcutis Biotherapeutics Stock Up 4.7%

ARQT stock opened at $26.17 on Tuesday. The business’s 50-day moving average is $20.76 and its two-hundred day moving average is $16.76. The company has a market cap of $3.21 billion, a price-to-earnings ratio of -72.69 and a beta of 1.96. Arcutis Biotherapeutics, Inc. has a fifty-two week low of $8.90 and a fifty-two week high of $27.08. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.28 and a current ratio of 3.50.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.10) by $0.16. The firm had revenue of $99.22 million during the quarter, compared to analyst estimates of $86.69 million. Arcutis Biotherapeutics had a negative net margin of 13.94% and a negative return on equity of 29.69%. As a group, analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ARQT shares. Weiss Ratings restated a “sell (e+)” rating on shares of Arcutis Biotherapeutics in a report on Tuesday, October 14th. The Goldman Sachs Group boosted their price target on Arcutis Biotherapeutics from $19.00 to $29.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Cowen reaffirmed a “buy” rating on shares of Arcutis Biotherapeutics in a report on Thursday, August 7th. Zacks Research raised Arcutis Biotherapeutics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 29th. Finally, Needham & Company LLC upped their target price on shares of Arcutis Biotherapeutics from $22.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Arcutis Biotherapeutics currently has an average rating of “Moderate Buy” and an average price target of $28.00.

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.