Candriam S.C.A. Increases Holdings in Arcutis Biotherapeutics, Inc. $ARQT

Key Points

• Candriam S.C.A. boosted its stake in Arcutis Biotherapeutics by 35.3% in the first quarter, ending with 1,086,651 shares worth about $25.6 million.
• Other investors also increased exposure to ARQT, while insiders were net sellers: Masaru Matsuda and Director Howard G. Welgus both sold shares, and insiders sold 30,931 shares total in the last quarter.
• Analyst sentiment is mixed but still leans positive, with a Moderate Buy consensus and a $34 average price target; the stock recently traded at $27.74 after the company posted earnings that missed EPS estimates but slightly beat revenue expectations.

Candriam S.C.A. increased its position in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) by 35.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,086,651 shares of the company's stock after purchasing an additional 283,513 shares during the quarter. Candriam S.C.A. owned 0.87% of Arcutis Biotherapeutics worth $25,601,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Kornitzer Capital Management Inc. KS raised its position in Arcutis Biotherapeutics by 55.1% during the 1st quarter. Kornitzer Capital Management Inc. KS now owns 175,870 shares of the company's stock worth $4,143,000 after buying an additional 62,485 shares during the last quarter. Fishman Jay A Ltd. MI increased its stake in shares of Arcutis Biotherapeutics by 0.4% in the first quarter. Fishman Jay A Ltd. MI now owns 566,730 shares of the company's stock worth $13,352,000 after acquiring an additional 2,080 shares during the period. Peregrine Capital Management LLC purchased a new position in shares of Arcutis Biotherapeutics during the first quarter worth $7,216,000. AMI Asset Management Corp boosted its holdings in Arcutis Biotherapeutics by 3.2% in the first quarter. AMI Asset Management Corp now owns 50,863 shares of the company's stock valued at $1,198,000 after purchasing an additional 1,601 shares during the last quarter. Finally, Inspire Investing LLC grew its position in Arcutis Biotherapeutics by 38.6% during the 1st quarter. Inspire Investing LLC now owns 21,947 shares of the company's stock worth $517,000 after purchasing an additional 6,111 shares during the period.

Insider Activity at Arcutis Biotherapeutics

In related news, insider Masaru Matsuda sold 8,256 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $23.31, for a total value of $192,447.36. Following the completion of the transaction, the insider directly owned 126,689 shares of the company's stock, valued at approximately $2,953,120.59. This represents a 6.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Howard G. Welgus sold 4,096 shares of the firm's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $24.41, for a total value of $99,983.36. Following the completion of the transaction, the director owned 38,378 shares in the company, valued at $936,806.98. The trade was a 9.64% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 30,931 shares of company stock worth $730,086 in the last quarter. Corporate insiders own 9.40% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on ARQT shares. Needham & Company LLC restated a "buy" rating and issued a $36.00 target price on shares of Arcutis Biotherapeutics in a research note on Thursday, May 7th. Weiss Ratings reissued a "sell (d-)" rating on shares of Arcutis Biotherapeutics in a report on Wednesday, June 24th. Finally, Wall Street Zen cut shares of Arcutis Biotherapeutics from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Arcutis Biotherapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $34.00.

Arcutis Biotherapeutics Price Performance

NASDAQ:ARQT traded down $1.04 during trading hours on Friday, reaching $27.74. 1,572,129 shares of the company were exchanged, compared to its average volume of 1,740,885. The company has a current ratio of 2.68, a quick ratio of 2.46 and a debt-to-equity ratio of 0.54. The firm has a market cap of $3.47 billion, a PE ratio of -924.36 and a beta of 1.48. Arcutis Biotherapeutics, Inc. has a twelve month low of $13.69 and a twelve month high of $31.77. The stock's 50-day moving average is $23.67 and its 200-day moving average is $24.85.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.07). Arcutis Biotherapeutics had a negative return on equity of 1.41% and a negative net margin of 0.57%.The company had revenue of $105.40 million for the quarter, compared to analysts' expectations of $103.67 million. On average, sell-side analysts anticipate that Arcutis Biotherapeutics, Inc. will post 0.15 earnings per share for the current fiscal year.

Arcutis Biotherapeutics Profile

Arcutis Biotherapeutics is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for immuno-inflammatory skin diseases. The company's research and development efforts center on targeted treatments that address the underlying biology of conditions such as plaque psoriasis, atopic dermatitis, seborrheic dermatitis and vitiligo. Arcutis employs a precision-medicine approach to deliver topical therapies designed to improve efficacy and tolerability compared with existing treatment options.

In August 2022, Arcutis received U.S.

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