Vanguard Group Inc. Has $106.64 Million Position in Arcutis Biotherapeutics, Inc. $ARQT

Key Points

• Vanguard Group Inc. increased its stake in Arcutis Biotherapeutics by 5.9%, owning 6,818,078 shares worth approximately $106.6 million as of the latest SEC filing.
• Arcutis Biotherapeutics reported a revenue of $81.5 million for the last quarter, exceeding consensus estimates, and announced earnings per share of ($0.13), beating estimates by $0.05.
• Analysts have a generally favorable outlook on the stock, with ratings ranging from "neutral" to "buy," and an average price target of $19.80.

Vanguard Group Inc. increased its holdings in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) by 5.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,818,078 shares of the company's stock after acquiring an additional 377,363 shares during the quarter. Vanguard Group Inc. owned about 5.72% of Arcutis Biotherapeutics worth $106,635,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Arcutis Biotherapeutics by 3.2% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,697 shares of the company's stock worth $464,000 after acquiring an additional 917 shares during the period. Amalgamated Bank increased its position in Arcutis Biotherapeutics by 39.4% during the first quarter. Amalgamated Bank now owns 3,723 shares of the company's stock worth $58,000 after acquiring an additional 1,053 shares during the period. GF Fund Management CO. LTD. bought a new position in Arcutis Biotherapeutics during the fourth quarter worth about $34,000. LVW Advisors LLC grew its stake in Arcutis Biotherapeutics by 21.2% during the first quarter. LVW Advisors LLC now owns 14,466 shares of the company's stock worth $226,000 after buying an additional 2,530 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Arcutis Biotherapeutics by 1.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 280,100 shares of the company's stock valued at $3,902,000 after buying an additional 3,409 shares during the period.

Arcutis Biotherapeutics Price Performance

Shares of ARQT traded down $0.16 during mid-day trading on Thursday, reaching $15.49. The company had a trading volume of 1,342,163 shares, compared to its average volume of 1,751,959. The company's 50 day simple moving average is $14.88 and its 200 day simple moving average is $14.39. Arcutis Biotherapeutics, Inc. has a 1-year low of $8.03 and a 1-year high of $17.75. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.04 and a current ratio of 3.20. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of -20.65 and a beta of 1.84.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last posted its earnings results 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 firm had revenue of $81.50 million for the quarter, compared to analyst estimates of $72.70 million. Analysts expect that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

Insider Activity

In related news, Director Howard G. Welgus sold 10,000 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $14.30, for a total transaction of $143,000.00. Following the transaction, the director owned 100,206 shares in the company, valued at $1,432,945.80. The trade was a 9.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Todd Watanabe sold 11,547 shares of the business's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $14.33, for a total transaction of $165,468.51. Following the transaction, the insider owned 901,569 shares in the company, valued at $12,919,483.77. The trade was a 1.26% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 4,914 shares of company stock valued at $64,853 and sold 77,512 shares valued at $1,126,600. 9.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

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.