Jackson Creek Investment Advisors LLC Has $1.78 Million Stock Position in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Jackson Creek Investment Advisors LLC reduced its stake in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) by 25.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,536 shares of the company's stock after selling 37,757 shares during the quarter. Arcutis Biotherapeutics comprises approximately 0.6% of Jackson Creek Investment Advisors LLC's portfolio, making the stock its 18th biggest holding. Jackson Creek Investment Advisors LLC owned approximately 0.10% of Arcutis Biotherapeutics worth $1,776,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. GF Fund Management CO. LTD. bought a new position in Arcutis Biotherapeutics in the 4th quarter worth $34,000. Amalgamated Bank lifted its stake in Arcutis Biotherapeutics by 39.4% during the 1st quarter. Amalgamated Bank now owns 3,723 shares of the company's stock valued at $58,000 after acquiring an additional 1,053 shares during the period. KBC Group NV bought a new position in Arcutis Biotherapeutics during the 1st quarter valued at about $84,000. Cibc World Markets Corp bought a new position in Arcutis Biotherapeutics during the 4th quarter valued at about $140,000. Finally, Summit Investment Advisors Inc. lifted its stake in shares of Arcutis Biotherapeutics by 8.0% in the 4th 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.

Arcutis Biotherapeutics Stock Performance

Shares of NASDAQ:ARQT traded down $0.81 during trading on Friday, reaching $14.67. The company had a trading volume of 1,688,023 shares, compared to its average volume of 2,148,779. The stock's fifty day moving average price is $14.04 and its 200 day moving average price is $14.08. Arcutis Biotherapeutics, Inc. has a fifty-two week low of $7.86 and a fifty-two week high of $17.75. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of -14.11 and a beta of 1.77. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.55 and a quick ratio of 3.37.

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

Insider Activity at Arcutis Biotherapeutics

In other news, insider Masaru Matsuda sold 5,030 shares of the company's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $15.20, for a total value of $76,456.00. Following the completion of the sale, the insider owned 204,399 shares in the company, valued at $3,106,864.80. This represents a 2.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Howard G. Welgus sold 10,139 shares of the company's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $13.37, for a total value of $135,558.43. Following the sale, the director directly owned 109,414 shares of the company's stock, valued at approximately $1,462,865.18. This represents a 8.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 7,434 shares of company stock worth $99,277 and sold 57,041 shares worth $827,063. 9.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ARQT has been the subject of a number of research analyst reports. HC Wainwright reaffirmed a "buy" rating and set a $19.00 price objective on shares of Arcutis Biotherapeutics in a report on Thursday, April 3rd. Guggenheim restated a "buy" rating on shares of Arcutis Biotherapeutics in a research note on Thursday, April 3rd. Finally, Needham & Company LLC reiterated a "buy" rating and set a $20.00 price objective on shares of Arcutis Biotherapeutics in a research note on Friday, May 23rd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Arcutis Biotherapeutics currently has a consensus rating of "Moderate Buy" and an average target price of $18.80.

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.