Arcutis Biotherapeutics, Inc. $ARQT Shares Sold by Vontobel Holding Ltd.

Key Points

• Vontobel Holding cut its Arcutis Biotherapeutics stake by 44.5% in the third quarter, selling 68,242 shares and retaining 85,000 shares valued at approximately $2.25 million.
• Arcutis reported quarterly revenue of $129.86 million and earnings of $0.11 per share, exceeding analysts’ estimates of $118.85 million and $0.06, respectively.
• Analysts maintain a generally positive outlook, with eight Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $37.33, above the reported $28.82 share price.

Vontobel Holding Ltd. reduced its stake in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) by 44.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 85,000 shares of the company's stock after selling 68,242 shares during the quarter. Vontobel Holding Ltd. owned 0.07% of Arcutis Biotherapeutics worth $2,247,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Arizona State Retirement System raised its position in Arcutis Biotherapeutics by 1.7% in the second quarter. Arizona State Retirement System now owns 30,802 shares of the company's stock worth $808,000 after acquiring an additional 521 shares in the last quarter. Bank of New York Mellon Corp grew its position in Arcutis Biotherapeutics by 0.4% during the first quarter. Bank of New York Mellon Corp now owns 305,532 shares of the company's stock valued at $7,198,000 after purchasing an additional 1,104 shares in the last quarter. KBC Group NV increased its stake in shares of Arcutis Biotherapeutics by 43.2% in the first quarter. KBC Group NV now owns 4,376 shares of the company's stock worth $103,000 after acquiring an additional 1,321 shares during the last quarter. AMI Asset Management Corp lifted its holdings in shares of Arcutis Biotherapeutics by 3.2% during the 1st quarter. AMI Asset Management Corp now owns 50,863 shares of the company's stock valued at $1,198,000 after buying an additional 1,601 shares during the last quarter. Finally, Fishman Jay A Ltd. MI increased its position in Arcutis Biotherapeutics by 0.4% during the first quarter. Fishman Jay A Ltd. MI now owns 566,730 shares of the company's stock worth $13,352,000 after buying an additional 2,080 shares during the last quarter.

Arcutis Biotherapeutics Stock Performance

NASDAQ ARQT opened at $28.82 on Monday. The firm's 50 day simple moving average is $25.45 and its 200 day simple moving average is $24.83. The firm has a market capitalization of $3.62 billion, a price-to-earnings ratio of 137.24 and a beta of 1.57. The company has a current ratio of 2.92, a quick ratio of 2.67 and a debt-to-equity ratio of 0.46. Arcutis Biotherapeutics, Inc. has a 1 year low of $19.30 and a 1 year high of $31.77.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.05. Arcutis Biotherapeutics had a net margin of 6.15% and a return on equity of 15.05%. The business had revenue of $129.86 million during the quarter, compared to analysts' expectations of $118.85 million. As a group, research analysts expect that Arcutis Biotherapeutics, Inc. will post 0.43 earnings per share for the current fiscal year.

Insider Transactions at Arcutis Biotherapeutics

In related news, insider Masaru Matsuda sold 3,674 shares of the business's stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $25.00, for a total value of $91,850.00. Following the completion of the sale, the insider directly owned 112,508 shares of the company's stock, valued at $2,812,700. The trade was a 3.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Terrie Curran sold 38,200 shares of the business's stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $25.03, for a total value of $956,146.00. Following the sale, the director directly owned 23,526 shares of the company's stock, valued at $588,855.78. This represents a 61.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 79,225 shares of company stock valued at $2,015,966. 9.40% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ARQT shares. Weiss Ratings downgraded shares of Arcutis Biotherapeutics from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday. Morgan Stanley boosted their target price on Arcutis Biotherapeutics from $34.00 to $38.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Guggenheim upped their target price on shares of Arcutis Biotherapeutics from $35.00 to $38.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Wall Street Zen cut shares of Arcutis Biotherapeutics from a "strong-buy" rating to a "buy" rating in a research report on Saturday, October 10th. Finally, Needham & Company LLC boosted 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. Eight research 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, Arcutis Biotherapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $37.33.

Arcutis Biotherapeutics Company Profile

Arcutis Biotherapeutics, Inc NASDAQ: ARQT is a biopharmaceutical company focused on developing and commercializing treatments for dermatologic conditions. The company concentrates on medical dermatology, with an emphasis on addressing diseases that can significantly affect patients' quality of life and for which additional treatment options are needed.

Arcutis's primary commercial product is ZORYVE (roflumilast), a topical phosphodiesterase-4 inhibitor available in multiple formulations.

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