Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Stock Holdings Decreased by Deutsche Bank AG

Deutsche Bank AG lowered its stake in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) by 51.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 387,536 shares of the company's stock after selling 412,491 shares during the period. Deutsche Bank AG owned approximately 0.33% of Arcutis Biotherapeutics worth $5,398,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Venturi Wealth Management LLC purchased a new position in Arcutis Biotherapeutics during the fourth quarter worth approximately $46,000. Cibc World Markets Corp purchased a new position in Arcutis Biotherapeutics during the fourth quarter worth approximately $140,000. Summit Investment Advisors Inc. raised its stake in Arcutis Biotherapeutics by 8.0% during the fourth quarter. Summit Investment Advisors Inc. now owns 11,245 shares of the company's stock worth $157,000 after purchasing an additional 837 shares during the period. LVW Advisors LLC purchased a new position in Arcutis Biotherapeutics during the fourth quarter worth approximately $166,000. Finally, Syon Capital LLC purchased a new position in Arcutis Biotherapeutics during the fourth quarter worth approximately $189,000.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ARQT shares. The Goldman Sachs Group increased their price target on shares of Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a "neutral" rating in a research note on Thursday, February 27th. Mizuho lifted their target price on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Needham & Company LLC restated a "buy" rating and set a $20.00 target price on shares of Arcutis Biotherapeutics in a report on Wednesday, April 9th. HC Wainwright restated a "buy" rating and set a $19.00 target price on shares of Arcutis Biotherapeutics in a report on Thursday, April 3rd. Finally, Jefferies Financial Group lifted their target price on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a "buy" rating in a report on Tuesday, March 11th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Arcutis Biotherapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $18.80.

Insiders Place Their Bets

In other Arcutis Biotherapeutics news, insider Todd Franklin Watanabe sold 1,500 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $17.52, for a total value of $26,280.00. Following the transaction, the insider now owns 927,414 shares in the company, valued at $16,248,293.28. The trade was a 0.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Howard G. Welgus sold 10,000 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $13.00, for a total transaction of $130,000.00. Following the completion of the sale, the director now directly owns 131,944 shares of the company's stock, valued at $1,715,272. The trade was a 7.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,113 shares of company stock worth $632,162 in the last quarter. 9.40% of the stock is owned by corporate insiders.

Arcutis Biotherapeutics Stock Down 0.7%

ARQT stock traded down $0.10 during trading on Thursday, reaching $13.66. The stock had a trading volume of 3,099,626 shares, compared to its average volume of 2,304,352. Arcutis Biotherapeutics, Inc. has a 1-year low of $6.99 and a 1-year high of $17.75. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $1.63 billion, a P/E ratio of -7.63 and a beta of 1.87. The firm has a fifty day moving average price of $14.66 and a 200 day moving average price of $13.51.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.20) EPS for the quarter, topping analysts' consensus estimates of ($0.21) by $0.01. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. The firm had revenue of $65.85 million for the quarter, compared to analyst estimates of $64.80 million. On average, equities analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current 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.