Ensign Peak Advisors Inc Sells 42,672 Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Ensign Peak Advisors Inc decreased its position in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,374,140 shares of the company's stock after selling 42,672 shares during the quarter. Ensign Peak Advisors Inc owned about 2.03% of Arcutis Biotherapeutics worth $33,072,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Jennison Associates LLC raised its holdings in Arcutis Biotherapeutics by 5.8% during the 4th quarter. Jennison Associates LLC now owns 12,339,792 shares of the company's stock worth $171,893,000 after buying an additional 676,295 shares during the period. Gilder Gagnon Howe & Co. LLC raised its holdings in Arcutis Biotherapeutics by 9.8% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 3,902,991 shares of the company's stock worth $54,369,000 after buying an additional 349,153 shares during the period. D. E. Shaw & Co. Inc. raised its holdings in Arcutis Biotherapeutics by 44.0% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,513,577 shares of the company's stock worth $35,014,000 after buying an additional 768,553 shares during the period. American Century Companies Inc. raised 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 worth $22,723,000 after buying an additional 166,915 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Arcutis Biotherapeutics by 0.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,296,911 shares of the company's stock worth $12,061,000 after buying an additional 11,833 shares during the period.

Arcutis Biotherapeutics Stock Up 1.6%

ARQT traded up $0.22 during trading on Friday, reaching $13.85. 843,481 shares of the stock were exchanged, compared to its average volume of 2,315,536. The stock has a market cap of $1.65 billion, a P/E ratio of -7.74 and a beta of 1.87. Arcutis Biotherapeutics, Inc. has a twelve month low of $6.99 and a twelve month high of $17.75. The stock's 50 day moving average price is $14.72 and its two-hundred day moving average price is $13.35. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($0.20) earnings per share for the quarter, topping analysts' consensus estimates of ($0.21) by $0.01. The business had revenue of $65.85 million for the quarter, compared to the consensus estimate of $64.80 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. Equities analysts expect that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

Insider Buying and Selling

In related news, Director Howard G. Welgus sold 10,000 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $13.00, for a total transaction of $130,000.00. Following the transaction, the director now directly owns 131,944 shares in the company, valued at approximately $1,715,272. The trade was a 7.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Patrick Burnett sold 12,242 shares of the business's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $15.04, for a total transaction of $184,119.68. Following the transaction, the insider now owns 121,936 shares in the company, valued at approximately $1,833,917.44. The trade was a 9.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,662 shares of company stock worth $527,326. Insiders own 9.40% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Jefferies Financial Group raised their target price on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a "buy" rating in a report on Tuesday, March 11th. Mizuho lifted their price objective on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. The Goldman Sachs Group lifted their price objective on shares of Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a "neutral" rating in a report on Thursday, February 27th. HC Wainwright reiterated a "buy" rating and issued a $19.00 price objective on shares of Arcutis Biotherapeutics in a report on Thursday, April 3rd. Finally, Guggenheim reiterated a "buy" rating on shares of Arcutis Biotherapeutics in a report on Thursday, April 3rd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target 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.