Focus Partners Wealth Buys Shares of 64,183 Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Focus Partners Wealth bought a new position in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 64,183 shares of the company's stock, valued at approximately $894,000. Focus Partners Wealth owned approximately 0.05% of Arcutis Biotherapeutics at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Venturi Wealth Management LLC purchased a new stake in shares of Arcutis Biotherapeutics in the 4th quarter valued at approximately $46,000. Cibc World Markets Corp purchased a new stake in shares of Arcutis Biotherapeutics in the fourth quarter valued at $140,000. Summit Investment Advisors Inc. boosted its position in shares of Arcutis Biotherapeutics by 8.0% in the fourth quarter. Summit Investment Advisors Inc. now owns 11,245 shares of the company's stock worth $157,000 after buying an additional 837 shares during the period. LVW Advisors LLC purchased a new position in shares of Arcutis Biotherapeutics during the fourth quarter valued at $166,000. Finally, Syon Capital LLC purchased a new position in shares of Arcutis Biotherapeutics during the fourth quarter valued at $189,000.

Arcutis Biotherapeutics Price Performance

ARQT stock traded up $0.32 during midday trading on Friday, reaching $13.98. 1,646,092 shares of the company's stock traded hands, compared to its average volume of 2,294,170. Arcutis Biotherapeutics, Inc. has a 1-year low of $6.99 and a 1-year high of $17.75. The company has a market cap of $1.67 billion, a price-to-earnings ratio of -7.81 and a beta of 1.87. 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 company has a 50-day simple moving average of $14.56 and a two-hundred day simple moving average of $13.60.

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 the consensus estimate of ($0.21) by $0.01. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. The firm had revenue of $65.85 million for the quarter, compared to the consensus estimate of $64.80 million. On average, analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current year.

Insider Buying and Selling

In other Arcutis Biotherapeutics news, insider Todd Franklin Watanabe sold 1,500 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $17.52, for a total value of $26,280.00. Following the completion of the transaction, the insider now directly owns 927,414 shares in the company, valued at $16,248,293.28. This trade represents a 0.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Patrick J. Heron purchased 2,520 shares of the business's stock in a transaction on Wednesday, May 21st. The stock was purchased at an average price of $13.66 per share, with a total value of $34,423.20. Following the purchase, the director now owns 20,014 shares of the company's stock, valued at approximately $273,391.24. The trade was a 14.40% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 44,113 shares of company stock worth $632,162 over the last ninety days. Company insiders own 9.40% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ARQT shares. Guggenheim reaffirmed a "buy" rating on shares of Arcutis Biotherapeutics in a research note on Thursday, April 3rd. Needham & Company LLC reiterated a "buy" rating and issued a $20.00 target price on shares of Arcutis Biotherapeutics in a research report on Friday. The Goldman Sachs Group lifted their price target on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a "neutral" rating in a report on Thursday, February 27th. HC Wainwright reaffirmed a "buy" rating and set a $19.00 price objective on shares of Arcutis Biotherapeutics in a research report on Thursday, April 3rd. Finally, Jefferies Financial Group boosted their price target on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a "buy" rating in a research report on Tuesday, March 11th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $18.80.

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.