Jackson Creek Investment Advisors LLC Sells 64,784 Shares of Arcutis Biotherapeutics, Inc. $ARQT

Key Points

• Jackson Creek Investment Advisors cut its Arcutis Biotherapeutics stake by 47.7% in the fourth quarter, selling 64,784 shares and leaving it with 71,035 shares worth about $2.06 million.
• Arcutis Biotherapeutics’ latest earnings showed a smaller-than-expected loss, with EPS of -$0.09 versus the -$0.02 estimate, while revenue came in at $105.4 million, slightly above expectations.
• Analysts remain mixed on the stock, with a consensus rating of “Moderate Buy” and an average price target of $34, though recent insider sales and some downgrades have added caution.

Jackson Creek Investment Advisors LLC reduced its stake in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) by 47.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 71,035 shares of the company's stock after selling 64,784 shares during the quarter. Arcutis Biotherapeutics comprises 0.6% of Jackson Creek Investment Advisors LLC's holdings, making the stock its 28th largest position. Jackson Creek Investment Advisors LLC owned 0.06% of Arcutis Biotherapeutics worth $2,063,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Johnson Investment Counsel Inc. bought a new position in Arcutis Biotherapeutics in the 3rd quarter valued at about $30,000. SBI Securities Co. Ltd. raised its holdings in Arcutis Biotherapeutics by 325.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,089 shares of the company's stock valued at $32,000 after acquiring an additional 833 shares during the period. Global Retirement Partners LLC acquired a new position in shares of Arcutis Biotherapeutics during the 4th quarter worth approximately $35,000. EverSource Wealth Advisors LLC grew its position in shares of Arcutis Biotherapeutics by 124.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the company's stock worth $37,000 after purchasing an additional 698 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its position in shares of Arcutis Biotherapeutics by 1,291.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 7,067 shares of the company's stock worth $124,000 after purchasing an additional 6,559 shares in the last quarter.

Analysts Set New Price Targets

A number of research analysts have issued reports on ARQT shares. Wall Street Zen lowered shares of Arcutis Biotherapeutics from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. TD Cowen increased their target price on shares of Arcutis Biotherapeutics from $30.00 to $35.00 and gave the stock a "buy" rating in a research report on Thursday, February 26th. Weiss Ratings restated a "sell (d-)" rating on shares of Arcutis Biotherapeutics in a research report on Friday, March 27th. Needham & Company LLC restated a "buy" rating and set a $36.00 target price on shares of Arcutis Biotherapeutics in a research report on Thursday, May 7th. Finally, Mizuho decreased their target price on shares of Arcutis Biotherapeutics from $37.00 to $35.00 and set an "outperform" rating on the stock in a research report on Monday, March 2nd. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $34.00.

Arcutis Biotherapeutics Stock Performance

NASDAQ ARQT opened at $21.11 on Wednesday. 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 capitalization of $2.64 billion, a price-to-earnings ratio of -703.43 and a beta of 1.58. The firm's 50 day simple moving average is $22.64 and its 200 day simple moving average is $25.61. Arcutis Biotherapeutics, Inc. has a 1 year low of $12.72 and a 1 year high of $31.77.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.07). The firm had revenue of $105.40 million for the quarter, compared to analyst estimates of $103.68 million. Arcutis Biotherapeutics had a negative return on equity of 1.41% and a negative net margin of 0.57%. As a group, research analysts expect that Arcutis Biotherapeutics, Inc. will post 0.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Arcutis Biotherapeutics

In related news, Director Howard G. Welgus sold 7,144 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $22.99, for a total value of $164,240.56. Following the completion of the transaction, the director owned 32,600 shares of the company's stock, valued at $749,474. This represents a 17.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Todd Watanabe sold 3,172 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $23.61, for a total transaction of $74,890.92. Following the completion of the transaction, the insider directly owned 720,755 shares of the company's stock, valued at approximately $17,017,025.55. The trade was a 0.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders have sold a total of 93,488 shares of company stock worth $2,309,329 in the last three months. Company insiders own 9.40% of the company's stock.

Arcutis Biotherapeutics Company 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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