Tudor Investment Corp ET AL Raises Stock Holdings in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Tudor Investment Corp ET AL grew its holdings in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) by 206.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,334 shares of the company's stock after purchasing an additional 43,370 shares during the quarter. Tudor Investment Corp ET AL owned about 0.05% of Arcutis Biotherapeutics worth $896,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Jennison Associates LLC boosted its holdings in shares of Arcutis Biotherapeutics by 5.8% in the fourth quarter. Jennison Associates LLC now owns 12,339,792 shares of the company's stock worth $171,893,000 after acquiring an additional 676,295 shares during the period. Gilder Gagnon Howe & Co. LLC boosted its stake in Arcutis Biotherapeutics by 9.8% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 3,902,991 shares of the company's stock worth $54,369,000 after purchasing an additional 349,153 shares during the period. American Century Companies Inc. grew its holdings in Arcutis Biotherapeutics by 11.4% during the 4th quarter. American Century Companies Inc. now owns 1,631,226 shares of the company's stock valued at $22,723,000 after buying an additional 166,915 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Arcutis Biotherapeutics by 0.9% during the third quarter. JPMorgan Chase & Co. now owns 1,296,911 shares of the company's stock valued at $12,061,000 after buying an additional 11,833 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Arcutis Biotherapeutics by 20.1% in the fourth quarter. Invesco Ltd. now owns 1,126,668 shares of the company's stock valued at $15,694,000 after acquiring an additional 188,184 shares during the period.

Insider Buying and Selling at Arcutis Biotherapeutics

In related news, insider Patrick Burnett sold 12,242 shares of the company's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $15.04, for a total value of $184,119.68. Following the transaction, the insider now owns 121,936 shares in the company, valued at $1,833,917.44. The trade was a 9.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Howard G. Welgus sold 10,000 shares of Arcutis Biotherapeutics stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $13.00, for a total transaction of $130,000.00. Following the completion of the transaction, the director now directly owns 131,944 shares of the company's stock, valued at $1,715,272. This trade represents a 7.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,662 shares of company stock valued at $527,326. Corporate insiders own 9.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ARQT. Jefferies Financial Group boosted their price target on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a "buy" rating in a research report on Tuesday, March 11th. HC Wainwright reiterated a "buy" rating and set a $19.00 price target on shares of Arcutis Biotherapeutics in a research report on Thursday, April 3rd. Needham & Company LLC restated a "buy" rating and issued a $20.00 price objective on shares of Arcutis Biotherapeutics in a research report on Wednesday, April 9th. The Goldman Sachs Group raised their price objective on shares of Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a "neutral" rating in a research report on Thursday, February 27th. Finally, Guggenheim reiterated a "buy" rating on shares of Arcutis Biotherapeutics in a research report on Thursday, April 3rd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $18.80.

Arcutis Biotherapeutics Stock Up 0.1 %

Shares of ARQT stock traded up $0.01 during midday trading on Friday, reaching $13.53. 1,987,330 shares of the stock were exchanged, compared to its average volume of 2,383,276. Arcutis Biotherapeutics, Inc. has a 1 year low of $6.99 and a 1 year high of $17.75. The firm has a market cap of $1.61 billion, a PE ratio of -7.56 and a beta of 1.87. The company's 50 day moving average is $14.78 and its two-hundred day moving average is $13.20. 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 (NASDAQ:ARQT - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported ($0.20) EPS for the quarter, beating analysts' consensus estimates of ($0.21) by $0.01. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. The firm had revenue of $65.85 million for the quarter, compared to analysts' expectations of $64.80 million. On average, equities research analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

About Arcutis Biotherapeutics

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.