Phocas Financial Corp. Trims Stake in Arcutis Biotherapeutics, Inc. $ARQT

Key Points

• Phocas Financial Corp. reduced its stake in Arcutis by 39.3% in Q4, selling 41,808 shares and ending the quarter with 64,499 shares (about 0.05% of the company) valued at $1.873 million.
• Company insiders have been net sellers, disposing of 159,546 shares worth $4.03 million in the last three months (insiders still own 9.40%), including Larry Todd Edwards and director Howard G. Welgus (10,000 shares sold under a Rule 10b5‑1 plan).
• Wall Street sentiment is a Moderate Buy with an average target of $34.00 (five Buys, two Holds, one Sell), and the company recently beat quarterly expectations with EPS $0.13 vs $0.03 and revenue $129.5M vs $110.8M consensus.

Phocas Financial Corp. reduced its stake in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) by 39.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 64,499 shares of the company's stock after selling 41,808 shares during the quarter. Phocas Financial Corp. owned approximately 0.05% of Arcutis Biotherapeutics worth $1,873,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ARQT. Focus Partners Wealth increased its position in Arcutis Biotherapeutics by 0.8% in the third quarter. Focus Partners Wealth now owns 65,196 shares of the company's stock worth $1,237,000 after buying an additional 490 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Arcutis Biotherapeutics by 1.8% during the 3rd quarter. Arizona State Retirement System now owns 31,685 shares of the company's stock valued at $597,000 after buying an additional 568 shares in the last quarter. AlphaQuest LLC grew its stake in shares of Arcutis Biotherapeutics by 5.7% during the 3rd quarter. AlphaQuest LLC now owns 12,603 shares of the company's stock valued at $238,000 after acquiring an additional 682 shares during the period. Creative Planning increased its holdings in Arcutis Biotherapeutics by 8.2% in the 2nd quarter. Creative Planning now owns 19,575 shares of the company's stock worth $274,000 after acquiring an additional 1,477 shares in the last quarter. Finally, LVW Advisors LLC raised its stake in Arcutis Biotherapeutics by 7.4% during the 4th quarter. LVW Advisors LLC now owns 22,189 shares of the company's stock worth $644,000 after acquiring an additional 1,535 shares during the period.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ARQT. Mizuho lowered 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 note on Monday, March 2nd. TD Cowen raised their price target on Arcutis Biotherapeutics from $30.00 to $35.00 and gave the company a "buy" rating in a report on Thursday, February 26th. Zacks Research downgraded Arcutis Biotherapeutics from a "strong-buy" rating to a "hold" rating in a research report on Monday, December 29th. Wall Street Zen lowered Arcutis Biotherapeutics from a "strong-buy" rating to a "buy" rating in a research note on Saturday, February 14th. Finally, HC Wainwright increased their target price on Arcutis Biotherapeutics from $30.00 to $34.00 and gave the stock a "buy" rating in a research report on Thursday, February 26th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $34.00.

Insider Buying and Selling

In related news, insider Larry Todd Edwards sold 3,687 shares of the company's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $25.18, for a total transaction of $92,838.66. Following the sale, the insider owned 175,178 shares of the company's stock, valued at $4,410,982.04. This represents a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Howard G. Welgus sold 10,000 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $23.88, for a total transaction of $238,800.00. Following the completion of the transaction, the director directly owned 39,744 shares of the company's stock, valued at approximately $949,086.72. The trade was a 20.10% 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. Insiders have sold a total of 159,546 shares of company stock valued at $4,032,162 in the last three months. Corporate insiders own 9.40% of the company's stock.

Arcutis Biotherapeutics Price Performance

NASDAQ:ARQT opened at $24.58 on Thursday. The business's 50-day moving average is $24.56 and its 200 day moving average is $25.44. Arcutis Biotherapeutics, Inc. has a 12 month low of $12.42 and a 12 month high of $31.77. The company has a market capitalization of $3.05 billion, a P/E ratio of -175.56 and a beta of 1.76. The company has a current ratio of 3.17, a quick ratio of 2.99 and a debt-to-equity ratio of 0.57.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.10. The business had revenue of $129.50 million during the quarter, compared to analysts' expectations of $110.79 million. Arcutis Biotherapeutics had a negative return on equity of 10.26% and a negative net margin of 4.29%. On average, equities research analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current fiscal year.

About Arcutis Biotherapeutics

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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