Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Shares Sold by GW&K Investment Management LLC

GW&K Investment Management LLC decreased its position in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) by 2.1% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 1,512,211 shares of the company's stock after selling 31,873 shares during the period. GW&K Investment Management LLC owned 1.27% of Arcutis Biotherapeutics worth $23,651,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. GF Fund Management CO. LTD. purchased a new position in Arcutis Biotherapeutics during the fourth quarter worth approximately $34,000. Amalgamated Bank raised its stake 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 purchasing an additional 1,053 shares during the period. KBC Group NV purchased a new position in Arcutis Biotherapeutics during the first quarter worth approximately $84,000. Cibc World Markets Corp purchased a new position in Arcutis Biotherapeutics during the fourth quarter worth approximately $140,000. Finally, 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.

Analysts Set New Price Targets

A number of research firms have weighed in on ARQT. Needham & Company LLC reaffirmed a "buy" rating and set a $20.00 price target on shares of Arcutis Biotherapeutics in a research note on Friday, May 23rd. HC Wainwright reaffirmed a "buy" rating and set a $19.00 price target on shares of Arcutis Biotherapeutics in a research note on Thursday, April 3rd. Finally, Guggenheim reaffirmed a "buy" rating on shares of Arcutis Biotherapeutics in a research note on Thursday, April 3rd. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $18.80.

Insider Buying and Selling at Arcutis Biotherapeutics

In related news, insider Larry Todd Edwards sold 7,451 shares of the firm's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $14.07, for a total transaction of $104,835.57. Following the completion of the sale, the insider directly owned 183,104 shares of the company's stock, valued at approximately $2,576,273.28. This trade represents a 3.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Masaru Matsuda sold 5,030 shares of the firm's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $15.20, for a total transaction of $76,456.00. Following the sale, the insider directly owned 204,399 shares of the company's stock, valued at approximately $3,106,864.80. The trade was a 2.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 7,434 shares of company stock worth $99,277 and sold 57,041 shares worth $827,063. Company insiders own 9.40% of the company's stock.

Arcutis Biotherapeutics Stock Performance

Shares of ARQT stock traded up $0.21 during mid-day trading on Tuesday, reaching $14.55. The company's stock had a trading volume of 1,326,359 shares, compared to its average volume of 2,148,083. The company's 50 day simple moving average is $14.04 and its 200-day simple moving average is $14.07. Arcutis Biotherapeutics, Inc. has a 12-month low of $7.86 and a 12-month high of $17.75. The company has a debt-to-equity ratio of 0.75, a quick ratio of 3.37 and a current ratio of 3.55.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($0.20) EPS for the quarter, beating analysts' consensus estimates of ($0.21) by $0.01. Arcutis Biotherapeutics had a negative net margin of 60.95% and a negative return on equity of 80.66%. The business had revenue of $65.85 million for the quarter, compared to the consensus estimate of $64.80 million. Research analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current fiscal year.

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.