26,520 Shares in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Bought by Perpetual Ltd

Perpetual Ltd acquired a new stake in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund acquired 26,520 shares of the company's stock, valued at approximately $415,000.

Other institutional investors have also added to or reduced their stakes in the company. Rhumbline Advisers lifted its holdings in shares of Arcutis Biotherapeutics by 2.8% in the fourth quarter. Rhumbline Advisers now owns 168,052 shares of the company's stock worth $2,341,000 after buying an additional 4,598 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Arcutis Biotherapeutics by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 878,804 shares of the company's stock worth $12,242,000 after acquiring an additional 18,958 shares during the period. Keybank National Association OH lifted its stake in Arcutis Biotherapeutics by 22.8% in the 4th quarter. Keybank National Association OH now owns 52,204 shares of the company's stock worth $727,000 after purchasing an additional 9,680 shares in the last quarter. Aigen Investment Management LP bought a new position in Arcutis Biotherapeutics in the 4th quarter valued at $191,000. Finally, Jackson Creek Investment Advisors LLC bought a new position in Arcutis Biotherapeutics in the 4th quarter valued at $2,108,000.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ ARQT traded down $0.07 during mid-day trading on Wednesday, reaching $13.68. 726,535 shares of the company were exchanged, compared to its average volume of 2,198,686. The stock has a market capitalization of $1.63 billion, a PE ratio of -13.15 and a beta of 1.77. The company has a quick ratio of 3.37, a current ratio of 3.55 and a debt-to-equity ratio of 0.75. Arcutis Biotherapeutics, Inc. has a 52 week low of $7.86 and a 52 week high of $17.75. The company's 50 day moving average price is $14.01 and its 200 day moving average price is $14.06.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.21) by $0.01. The firm had revenue of $65.85 million during the quarter, compared to analysts' expectations of $64.80 million. Arcutis Biotherapeutics had a negative return on equity of 80.66% and a negative net margin of 60.95%. Sell-side analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on ARQT. Guggenheim reaffirmed a "buy" rating on shares of Arcutis Biotherapeutics in a report on Thursday, April 3rd. Jefferies Financial Group upped their target price on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a "buy" rating in a research note 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. Finally, Needham & Company LLC reissued a "buy" rating and set a $20.00 price objective on shares of Arcutis Biotherapeutics in a report on Friday, May 23rd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $18.80.

Insider Buying and Selling at Arcutis Biotherapeutics

In other news, insider Larry Todd Edwards sold 7,451 shares of the firm's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $14.07, for a total transaction of $104,835.57. Following the transaction, the insider directly owned 183,104 shares of the company's stock, valued at approximately $2,576,273.28. This trade represents a 3.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Howard G. Welgus sold 10,139 shares of Arcutis Biotherapeutics stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $13.37, for a total value of $135,558.43. Following the completion of the transaction, the director owned 109,414 shares in the company, valued at approximately $1,462,865.18. This represents a 8.48% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders purchased 7,434 shares of company stock valued at $99,277 and sold 28,291 shares valued at $394,261. Insiders own 9.40% of the company's stock.

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.