Eversept Partners LP Decreases Position in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Eversept Partners LP cut its stake in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) by 72.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 191,158 shares of the company's stock after selling 502,105 shares during the period. Eversept Partners LP owned approximately 0.16% of Arcutis Biotherapeutics worth $2,663,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Barclays PLC boosted its stake in Arcutis Biotherapeutics by 45.8% during the third quarter. Barclays PLC now owns 253,392 shares of the company's stock worth $2,356,000 after buying an additional 79,579 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Arcutis Biotherapeutics by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,470,138 shares of the company's stock valued at $22,977,000 after acquiring an additional 48,868 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Arcutis Biotherapeutics by 0.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,296,911 shares of the company's stock valued at $12,061,000 after acquiring an additional 11,833 shares during the last quarter. LVW Advisors LLC purchased a new stake in shares of Arcutis Biotherapeutics in the fourth quarter valued at about $166,000. Finally, SG Americas Securities LLC increased its position in Arcutis Biotherapeutics by 25.4% during the fourth quarter. SG Americas Securities LLC now owns 48,087 shares of the company's stock worth $670,000 after purchasing an additional 9,754 shares during the last quarter.

Arcutis Biotherapeutics Trading Down 0.7 %

NASDAQ ARQT traded down $0.11 on Friday, reaching $14.61. The stock had a trading volume of 830,186 shares, compared to its average volume of 2,390,052. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67. The stock has a fifty day moving average price of $14.48 and a two-hundred day moving average price of $12.89. Arcutis Biotherapeutics, Inc. has a 12-month low of $6.99 and a 12-month high of $17.75. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of -8.16 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) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.19. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. The firm had revenue of $71.36 million for the quarter, compared to the consensus estimate of $60.52 million. As a group, sell-side analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current fiscal year.

Insider Transactions at Arcutis Biotherapeutics

In related news, Director Howard G. Welgus sold 10,000 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $12.71, for a total transaction of $127,100.00. Following the sale, the director now directly owns 141,944 shares of the company's stock, valued at $1,804,108.24. This represents a 6.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Masaru Matsuda sold 8,338 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $12.70, for a total transaction of $105,892.60. Following the sale, the insider now owns 178,692 shares in the company, valued at approximately $2,269,388.40. This trade represents a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,099 shares of company stock valued at $631,256. 9.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ARQT shares. Jefferies Financial Group boosted their target price on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a "buy" rating in a report on Tuesday, March 11th. Guggenheim reiterated a "buy" rating on shares of Arcutis Biotherapeutics in a report on Thursday, April 3rd. Needham & Company LLC reissued a "buy" rating and set a $20.00 target price on shares of Arcutis Biotherapeutics in a research note on Wednesday, April 9th. Mizuho lifted their target price on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. Finally, The Goldman Sachs Group increased their price target on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a "neutral" rating in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average 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.