Aberdeen Group plc Sells 88,637 Shares of Arcutis Biotherapeutics, Inc. $ARQT

Aberdeen Group plc lowered its holdings in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 13.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 586,397 shares of the company’s stock after selling 88,637 shares during the period. Aberdeen Group plc owned approximately 0.48% of Arcutis Biotherapeutics worth $17,029,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ARQT. Ellsworth Advisors LLC bought a new stake in shares of Arcutis Biotherapeutics during the 4th quarter worth approximately $868,000. Zevenbergen Capital Investments LLC bought a new stake in shares of Arcutis Biotherapeutics during the 4th quarter worth approximately $12,140,000. LVW Advisors LLC lifted its holdings in shares of Arcutis Biotherapeutics by 7.4% during the 4th quarter. LVW Advisors LLC now owns 22,189 shares of the company’s stock worth $644,000 after acquiring an additional 1,535 shares during the period. Silverleafe Capital Partners LLC lifted its holdings in shares of Arcutis Biotherapeutics by 278.8% during the 4th quarter. Silverleafe Capital Partners LLC now owns 62,994 shares of the company’s stock worth $1,829,000 after acquiring an additional 46,366 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in shares of Arcutis Biotherapeutics by 102.3% during the 4th quarter. SG Americas Securities LLC now owns 35,229 shares of the company’s stock worth $1,023,000 after acquiring an additional 17,814 shares during the period.

Insider Activity at Arcutis Biotherapeutics

In other news, insider Todd Watanabe sold 37,349 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $25.18, for a total transaction of $940,447.82. Following the completion of the sale, the insider directly owned 785,957 shares in the company, valued at $19,790,397.26. This represents a 4.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Howard G. Welgus sold 10,000 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $23.88, for a total transaction of $238,800.00. Following the sale, the director owned 39,744 shares of the company’s stock, valued at approximately $949,086.72. This trade represents a 20.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 159,546 shares of company stock valued at $4,032,162 over the last 90 days. 9.40% of the stock is owned by company insiders.

Arcutis Biotherapeutics Trading Up 0.1%

Shares of NASDAQ ARQT opened at $23.66 on Tuesday. Arcutis Biotherapeutics, Inc. has a 52-week low of $11.86 and a 52-week high of $31.77. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.99 and a current ratio of 3.17. The firm has a 50 day moving average price of $24.76 and a two-hundred day moving average price of $25.15. The stock has a market cap of $2.93 billion, a P/E ratio of -168.99 and a beta of 1.76.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.10. Arcutis Biotherapeutics had a negative net margin of 4.29% and a negative return on equity of 10.26%. The company had revenue of $129.50 million during the quarter, compared to analysts’ expectations of $110.79 million. As a group, equities analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on ARQT. Guggenheim upped their price objective on shares of Arcutis Biotherapeutics from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. HC Wainwright upped their price objective on shares of Arcutis Biotherapeutics from $30.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a research report on Friday, March 27th. Wall Street Zen cut shares of Arcutis Biotherapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 14th. Finally, Zacks Research cut shares of Arcutis Biotherapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Five 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. According to MarketBeat, Arcutis Biotherapeutics currently has an average 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.