382,682 Shares in Arcutis Biotherapeutics, Inc. $ARQT Bought by Deutsche Bank AG

Key Points

• Deutsche Bank AG acquired 382,682 shares of Arcutis Biotherapeutics during the second quarter, worth approximately $10.0 million and representing about 0.31% of the company.
• Arcutis reported quarterly revenue of $129.86 million and EPS of $0.11, exceeding analyst expectations of $118.85 million in revenue and $0.06 EPS.
• Analyst sentiment remains positive: six analysts rate the stock a Buy and three rate it Hold, producing a “Moderate Buy” consensus and an average price target of $35.57, above the reported share price of $25.08.

Deutsche Bank AG bought a new stake in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 382,682 shares of the company's stock, valued at approximately $10,034,000. Deutsche Bank AG owned approximately 0.31% of Arcutis Biotherapeutics at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. boosted its holdings in Arcutis Biotherapeutics by 325.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,089 shares of the company's stock worth $32,000 after acquiring an additional 833 shares in the last quarter. Global Retirement Partners LLC acquired a new position in shares of Arcutis Biotherapeutics during the fourth quarter valued at about $35,000. EverSource Wealth Advisors LLC raised its position in shares of Arcutis Biotherapeutics by 124.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the company's stock valued at $37,000 after purchasing an additional 698 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Arcutis Biotherapeutics by 209.0% in the 4th quarter. NewEdge Advisors LLC now owns 1,545 shares of the company's stock valued at $45,000 after purchasing an additional 1,045 shares during the last quarter. Finally, Truvestments Capital LLC lifted its stake in shares of Arcutis Biotherapeutics by 114.2% during the fourth quarter. Truvestments Capital LLC now owns 3,012 shares of the company's stock worth $87,000 after buying an additional 1,606 shares during the period.

Arcutis Biotherapeutics Price Performance

Arcutis Biotherapeutics stock opened at $25.08 on Monday. The business's 50-day moving average price is $26.77 and its 200 day moving average price is $24.68. The company has a quick ratio of 2.67, a current ratio of 2.92 and a debt-to-equity ratio of 0.46. The firm has a market cap of $3.15 billion, a price-to-earnings ratio of 119.43 and a beta of 1.49. Arcutis Biotherapeutics, Inc. has a 52 week low of $15.10 and a 52 week high of $31.77.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.05. Arcutis Biotherapeutics had a return on equity of 15.05% and a net margin of 6.15%.The company had revenue of $129.86 million during the quarter, compared to the consensus estimate of $118.85 million. As a group, sell-side analysts anticipate that Arcutis Biotherapeutics, Inc. will post 0.4 earnings per share for the current year.

Insider Activity

In other news, Director Sue-Jean Lin sold 4,946 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $24.38, for a total transaction of $120,583.48. Following the completion of the transaction, the director directly owned 27,567 shares of the company's stock, valued at $672,083.46. The trade was a 15.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Todd Watanabe sold 4,375 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $26.12, for a total transaction of $114,275.00. Following the sale, the insider directly owned 717,203 shares in the company, valued at $18,733,342.36. This trade represents a 0.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 35,967 shares of company stock worth $926,898. 9.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ARQT has been the topic of several research analyst reports. Weiss Ratings upgraded Arcutis Biotherapeutics from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday. Wall Street Zen upgraded Arcutis Biotherapeutics from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 8th. Guggenheim lifted their target price on Arcutis Biotherapeutics from $35.00 to $38.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Morgan Stanley upped their target price on Arcutis Biotherapeutics from $34.00 to $38.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. Finally, Needham & Company LLC raised their target price on shares of Arcutis Biotherapeutics from $36.00 to $40.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $35.57.

Arcutis Biotherapeutics Company Profile

Arcutis Biotherapeutics is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for immuno-inflammatory skin diseases. The company's research and development efforts center on targeted treatments that address the underlying biology of conditions such as plaque psoriasis, atopic dermatitis, seborrheic dermatitis and vitiligo. Arcutis employs a precision-medicine approach to deliver topical therapies designed to improve efficacy and tolerability compared with existing treatment options.

In August 2022, Arcutis received U.S.

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