100,000 Shares in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Acquired by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. acquired a new stake in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 100,000 shares of the company's stock, valued at approximately $1,393,000. Adage Capital Partners GP L.L.C. owned about 0.09% of Arcutis Biotherapeutics at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Summit Investment Advisors Inc. increased its stake in shares of Arcutis Biotherapeutics by 8.0% during the 4th quarter. Summit Investment Advisors Inc. now owns 11,245 shares of the company's stock worth $157,000 after purchasing an additional 837 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in Arcutis Biotherapeutics by 10.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 24,818 shares of the company's stock worth $346,000 after buying an additional 2,336 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in Arcutis Biotherapeutics in the fourth quarter valued at approximately $46,000. Swiss National Bank lifted its position in shares of Arcutis Biotherapeutics by 1.6% in the fourth quarter. Swiss National Bank now owns 206,900 shares of the company's stock valued at $2,882,000 after buying an additional 3,300 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its stake in shares of Arcutis Biotherapeutics by 6.2% during the 4th quarter. MetLife Investment Management LLC now owns 65,471 shares of the company's stock worth $912,000 after acquiring an additional 3,813 shares during the period.

Insider Buying and Selling

In other Arcutis Biotherapeutics news, insider Masaru Matsuda sold 8,338 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $12.70, for a total value of $105,892.60. Following the transaction, the insider now directly owns 178,692 shares of the company's stock, valued at $2,269,388.40. This trade represents a 4.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Todd Franklin Watanabe sold 1,500 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $17.52, for a total transaction of $26,280.00. Following the sale, the insider now directly owns 927,414 shares of the company's stock, valued at approximately $16,248,293.28. This trade represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,099 shares of company stock worth $631,256. Company insiders own 9.50% of the company's stock.

Arcutis Biotherapeutics Stock Performance

Shares of NASDAQ:ARQT traded up $0.59 on Friday, reaching $15.24. 1,564,919 shares of the company's stock were exchanged, compared to its average volume of 2,374,642. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67. Arcutis Biotherapeutics, Inc. has a twelve month low of $6.99 and a twelve month high of $17.75. The company has a fifty day moving average of $14.69 and a 200-day moving average of $13.03. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of -8.51 and a beta of 1.67.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, topping analysts' consensus estimates of ($0.28) by $0.19. The firm had revenue of $71.36 million for the quarter, compared to analyst estimates of $60.52 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. On average, research analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ARQT shares. HC Wainwright reaffirmed a "buy" rating and set a $19.00 price target on shares of Arcutis Biotherapeutics in a report on Thursday, April 3rd. Needham & Company LLC restated a "buy" rating and set a $20.00 target price on shares of Arcutis Biotherapeutics in a research note on Wednesday, April 9th. Guggenheim reiterated a "buy" rating on shares of Arcutis Biotherapeutics in a research note on Thursday, April 3rd. Mizuho raised their price objective on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. Finally, The Goldman Sachs Group upped their target price on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a "neutral" rating in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $18.80.

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.