Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Shares Sold by Jackson Creek Investment Advisors LLC

Jackson Creek Investment Advisors LLC cut its stake in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) by 25.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 113,536 shares of the company's stock after selling 37,757 shares during the period. Arcutis Biotherapeutics accounts for approximately 0.6% of Jackson Creek Investment Advisors LLC's portfolio, making the stock its 18th largest holding. Jackson Creek Investment Advisors LLC owned approximately 0.10% of Arcutis Biotherapeutics worth $1,776,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. GF Fund Management CO. LTD. purchased a new stake in Arcutis Biotherapeutics in the fourth quarter worth approximately $34,000. Amalgamated Bank raised its holdings in shares of Arcutis Biotherapeutics by 39.4% during the first quarter. Amalgamated Bank now owns 3,723 shares of the company's stock valued at $58,000 after acquiring an additional 1,053 shares in the last quarter. KBC Group NV bought a new position in Arcutis Biotherapeutics in the first quarter worth $84,000. Cibc World Markets Corp bought a new position in Arcutis Biotherapeutics in the fourth quarter worth $140,000. Finally, Summit Investment Advisors Inc. raised its holdings in Arcutis Biotherapeutics by 8.0% in 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 in the last quarter.

Arcutis Biotherapeutics Trading Down 0.9%

Shares of NASDAQ ARQT traded down $0.14 during trading hours on Monday, hitting $14.54. 314,632 shares of the company traded hands, compared to its average volume of 2,146,075. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of -13.98 and a beta of 1.77. The company has a current ratio of 3.55, a quick ratio of 3.37 and a debt-to-equity ratio of 0.75. The company's 50 day moving average price is $14.04 and its 200 day moving average price is $14.07. Arcutis Biotherapeutics, Inc. has a 12 month low of $7.86 and a 12 month high of $17.75.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Guggenheim reissued a "buy" rating on shares of Arcutis Biotherapeutics in a research note on Thursday, April 3rd. Needham & Company LLC reaffirmed a "buy" rating and issued a $20.00 price objective on shares of Arcutis Biotherapeutics in a research note on Friday, May 23rd. Finally, HC Wainwright reissued a "buy" rating and set a $19.00 target price on shares of Arcutis Biotherapeutics in a research note on Thursday, April 3rd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $18.80.

Insider Activity at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, insider Larry Todd Edwards sold 7,451 shares of the company's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $14.07, for a total value of $104,835.57. Following the completion of the sale, the insider directly owned 183,104 shares in the company, valued at approximately $2,576,273.28. This represents a 3.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Patrick Burnett sold 23,000 shares of the company's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $15.05, for a total value of $346,150.00. Following the completion of the sale, the insider owned 115,468 shares of the company's stock, valued at $1,737,793.40. This represents a 16.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 7,434 shares of company stock worth $99,277 and have sold 57,041 shares worth $827,063. 9.40% of the stock is owned by insiders.

Arcutis Biotherapeutics Company 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.