Arcutis Biotherapeutics, Inc. $ARQT Shares Acquired by Aberdeen Group plc

Key Points

• Aberdeen Group plc has increased its stake in Arcutis Biotherapeutics by 21.9%, owning approximately 0.49% of the company after acquiring over 105,000 shares in the first quarter.
• Several hedge funds, including Suvretta Capital Management LLC and Polar Capital Holdings Plc, have also boosted their positions in Arcutis Biotherapeutics during recent quarters.
• Arcutis Biotherapeutics recently reported a revenue of $81.5 million for the quarter, exceeding analysts' expectations, and achieved a narrower loss per share than anticipated at ($0.13) compared to estimates of ($0.18).

Aberdeen Group plc lifted its holdings in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) by 21.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 587,540 shares of the company's stock after buying an additional 105,466 shares during the period. Aberdeen Group plc owned approximately 0.49% of Arcutis Biotherapeutics worth $9,189,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Suvretta Capital Management LLC boosted its stake in shares of Arcutis Biotherapeutics by 6.3% during the fourth quarter. Suvretta Capital Management LLC now owns 11,399,138 shares of the company's stock worth $158,790,000 after buying an additional 677,627 shares during the period. Polar Capital Holdings Plc boosted its stake in shares of Arcutis Biotherapeutics by 7.2% during the fourth quarter. Polar Capital Holdings Plc now owns 7,377,381 shares of the company's stock worth $102,767,000 after buying an additional 493,009 shares during the period. Vanguard Group Inc. boosted its stake in shares of Arcutis Biotherapeutics by 5.9% during the first quarter. Vanguard Group Inc. now owns 6,818,078 shares of the company's stock worth $106,635,000 after buying an additional 377,363 shares during the period. Gilder Gagnon Howe & Co. LLC lifted its position in Arcutis Biotherapeutics by 9.8% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 3,902,991 shares of the company's stock valued at $54,369,000 after purchasing an additional 349,153 shares during the period. Finally, D. E. Shaw & Co. Inc. lifted its position in Arcutis Biotherapeutics by 44.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,513,577 shares of the company's stock valued at $35,014,000 after purchasing an additional 768,553 shares during the period.

Insider Transactions at Arcutis Biotherapeutics

In other news, Director Patrick J. Heron bought 2,646 shares of the stock in a transaction on Friday, June 13th. The stock was purchased at an average cost of $13.08 per share, with a total value of $34,609.68. Following the purchase, the director owned 27,448 shares of the company's stock, valued at approximately $359,019.84. The trade was a 10.67% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Howard G. Welgus sold 10,000 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $14.30, for a total transaction of $143,000.00. Following the completion of the sale, the director directly owned 100,206 shares of the company's stock, valued at $1,432,945.80. The trade was a 9.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders bought 4,914 shares of company stock worth $64,853 and sold 75,124 shares worth $1,085,164. Insiders own 9.40% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on ARQT shares. Wall Street Zen upgraded shares of Arcutis Biotherapeutics from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. The Goldman Sachs Group started coverage on shares of Arcutis Biotherapeutics in a research report on Friday, July 25th. They issued a "neutral" rating and a $18.00 price objective for the company. Needham & Company LLC raised their price objective on shares of Arcutis Biotherapeutics from $20.00 to $22.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Finally, Cowen restated a "buy" rating on shares of Arcutis Biotherapeutics in a research report on Thursday, August 7th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $19.80.

Arcutis Biotherapeutics Trading Down 5.8%

Shares of ARQT opened at $15.77 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.20 and a quick ratio of 3.04. The firm has a 50 day simple moving average of $14.57 and a 200-day simple moving average of $14.25. Arcutis Biotherapeutics, Inc. has a 1-year low of $8.03 and a 1-year high of $17.75. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of -21.03 and a beta of 1.84.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.13) earnings per share for the quarter, topping analysts' consensus estimates of ($0.18) by $0.05. Arcutis Biotherapeutics had a negative net margin of 35.40% and a negative return on equity of 62.62%. The business had revenue of $81.50 million during the quarter, compared to analysts' expectations of $72.70 million. Equities analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current fiscal year.

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.

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