Tejara Capital Ltd Has $13.24 Million Stock Position in Arcutis Biotherapeutics, Inc. $ARQT

Key Points

• Tejara Capital Ltd reduced its holdings in Arcutis Biotherapeutics by 4.6%, owning 846,221 shares valued at approximately $13.24 million, making it their largest investment.
• Insider transactions saw Director Howard G. Welgus sell 10,000 shares while Director Patrick J. Heron bought 2,646 shares, indicating mixed sentiment among the company’s leadership.
• Analysts have largely upgraded their ratings on Arcutis Biotherapeutics, with a consensus rating of "Moderate Buy" and an average target price of $19.80, signaling optimism about the stock's future performance.

Tejara Capital Ltd lowered its stake in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) by 4.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 846,221 shares of the company's stock after selling 40,617 shares during the quarter. Arcutis Biotherapeutics comprises approximately 5.1% of Tejara Capital Ltd's holdings, making the stock its largest holding. Tejara Capital Ltd owned 0.71% of Arcutis Biotherapeutics worth $13,235,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. GF Fund Management CO. LTD. acquired a new stake in Arcutis Biotherapeutics during the fourth quarter worth $34,000. Amalgamated Bank boosted 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 buying an additional 1,053 shares in the last quarter. KBC Group NV acquired a new stake in Arcutis Biotherapeutics during the first quarter worth $84,000. Nkcfo LLC acquired a new stake in Arcutis Biotherapeutics during the first quarter worth $109,000. Finally, Baader Bank Aktiengesellschaft acquired a new stake in Arcutis Biotherapeutics during the first quarter worth $156,000.

Analyst Ratings Changes

ARQT has been the topic of a number of recent research reports. Needham & Company LLC lifted their price target on shares of Arcutis Biotherapeutics from $20.00 to $22.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Cowen reiterated a "buy" rating on shares of Arcutis Biotherapeutics in a research note on Thursday, August 7th. Wall Street Zen raised Arcutis Biotherapeutics from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, The Goldman Sachs Group initiated coverage on Arcutis Biotherapeutics in a report on Friday, July 25th. They set a "neutral" rating and a $18.00 price objective for the company. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $19.80.

Insiders Place Their Bets

In other Arcutis Biotherapeutics news, Director Patrick J. Heron purchased 2,646 shares of the business's stock in a transaction that occurred on Friday, June 13th. The stock was acquired at an average cost of $13.08 per share, with a total value of $34,609.68. Following the completion of the acquisition, the director directly owned 27,448 shares of the company's stock, valued at $359,019.84. This represents a 10.67% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Howard G. Welgus sold 10,139 shares of the business's stock in a transaction dated Wednesday, June 18th. The stock was 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 $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 three months, insiders purchased 7,434 shares of company stock valued at $99,277 and sold 75,124 shares valued at $1,085,164. 9.40% of the stock is owned by corporate insiders.

Arcutis Biotherapeutics Price Performance

Shares of Arcutis Biotherapeutics stock traded down $0.97 during trading on Tuesday, reaching $15.77. The company's stock had a trading volume of 1,102,415 shares, compared to its average volume of 2,140,357. The stock has a 50-day moving average price of $14.53 and a two-hundred day moving average price of $14.23. The company has a current ratio of 3.20, a quick ratio of 3.04 and a debt-to-equity ratio of 0.77. Arcutis Biotherapeutics, Inc. has a one year low of $8.03 and a one year high of $17.75. The stock has a market capitalization of $1.89 billion, a P/E ratio of -21.03 and a beta of 1.84.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.18) by $0.05. Arcutis Biotherapeutics had a negative return on equity of 62.62% and a negative net margin of 35.40%.The business had revenue of $81.50 million during the quarter, compared to analysts' expectations of $72.70 million. As a group, sell-side analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current fiscal year.

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.