Tudor Investment Corp ET AL Invests $1.32 Million in Arcutis Biotherapeutics, Inc. $ARQT

Key Points

• Tudor Investment Corp ET AL initiated a new position in Arcutis Biotherapeutics (NASDAQ:ARQT) of 69,980 shares worth about $1.32 million, representing roughly 0.06% of the company.
• Insiders sold 163,733 shares valued at $4.20 million over the last quarter — including Todd Watanabe's 37,349-share sale and CFO Latha Vairavan's 2,853-share sale — leaving insiders with 9.40% ownership.
• Analysts hold a "Moderate Buy" consensus (5 Buys, 2 Holds, 1 Sell) with an average price target of $34.00, and the company recently beat quarterly expectations with EPS $0.13 (vs. $0.03) and revenue $129.5M (vs. $110.8M est.).

Tudor Investment Corp ET AL purchased a new stake in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 69,980 shares of the company's stock, valued at approximately $1,319,000. Tudor Investment Corp ET AL owned approximately 0.06% of Arcutis Biotherapeutics as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Johnson Investment Counsel Inc. purchased a new position in Arcutis Biotherapeutics during the third quarter worth approximately $30,000. Jones Financial Companies Lllp raised its stake 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 buying an additional 6,559 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Arcutis Biotherapeutics by 10.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,828 shares of the company's stock worth $124,000 after buying an additional 820 shares during the period. Cookson Peirce & Co. Inc. purchased a new position in shares of Arcutis Biotherapeutics during the 3rd quarter valued at approximately $188,000. Finally, Merit Financial Group LLC acquired a new stake in Arcutis Biotherapeutics in the 3rd quarter valued at $190,000.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ARQT shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Arcutis Biotherapeutics in a report on Monday, December 29th. HC Wainwright raised their price target on shares of Arcutis Biotherapeutics from $30.00 to $34.00 and gave the stock a "buy" rating in a research note on Thursday, February 26th. Guggenheim boosted their price objective on Arcutis Biotherapeutics from $34.00 to $35.00 and gave the stock a "buy" rating in a research note on Friday, February 27th. Mizuho lowered their price objective on Arcutis Biotherapeutics from $37.00 to $35.00 and set an "outperform" rating for the company in a research report on Monday, March 2nd. Finally, Zacks Research cut Arcutis Biotherapeutics from a "strong-buy" rating to a "hold" rating in a research note on Monday, December 29th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Arcutis Biotherapeutics presently has an average rating of "Moderate Buy" and an average price target of $34.00.

Insider Buying and Selling

In other news, insider Todd Watanabe sold 37,349 shares of Arcutis Biotherapeutics stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $25.18, for a total value of $940,447.82. Following the completion of the sale, the insider directly owned 785,957 shares of the company's stock, valued at approximately $19,790,397.26. The trade was a 4.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Latha Vairavan sold 2,853 shares of the business's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $25.18, for a total value of $71,838.54. Following the completion of the sale, the chief financial officer owned 87,754 shares in the company, valued at $2,209,645.72. This represents a 3.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 163,733 shares of company stock valued at $4,204,675 over the last quarter. 9.40% of the stock is owned by corporate insiders.

Arcutis Biotherapeutics Stock Performance

Shares of ARQT stock opened at $21.22 on Monday. Arcutis Biotherapeutics, Inc. has a 1-year low of $11.86 and a 1-year high of $31.77. The firm has a market cap of $2.63 billion, a PE ratio of -151.56 and a beta of 1.66. The company has a 50-day moving average of $25.11 and a two-hundred day moving average of $24.90. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.17 and a quick ratio of 2.99.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.10. The business had revenue of $129.50 million for the quarter, compared to the consensus estimate of $110.79 million. Arcutis Biotherapeutics had a negative net margin of 4.29% and a negative return on equity of 10.26%. On average, analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

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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