Tudor Investment Corp ET AL Makes New Investment in Arcutis Biotherapeutics, Inc. $ARQT

Key Points

• Tudor Investment Corp purchased 69,980 shares of Arcutis Biotherapeutics in Q3 (~$1.32M), representing about 0.06% ownership at the end of the reporting period.
• Insider selling has been notable—insiders sold 159,546 shares totaling roughly $4.03M over the last 90 days, although insiders still own 9.40% of the company.
• Analyst sentiment skews positive with five Buys, two Holds and one Sell (average "Moderate Buy" and $34 target), and recent quarterly results beat revenue and EPS estimates despite the company remaining unprofitable.

Tudor Investment Corp ET AL purchased a new position in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 69,980 shares of the company's stock, valued at approximately $1,319,000. Tudor Investment Corp ET AL owned 0.06% of Arcutis Biotherapeutics at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Johnson Investment Counsel Inc. purchased a new position in Arcutis Biotherapeutics in the 3rd quarter worth approximately $30,000. Jones Financial Companies Lllp increased its stake in Arcutis Biotherapeutics by 1,291.1% in 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 during the period. Quantbot Technologies LP purchased a new position in Arcutis Biotherapeutics in the 2nd quarter worth approximately $145,000. Russell Investments Group Ltd. increased its stake in Arcutis Biotherapeutics by 4,562.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 11,190 shares of the company's stock worth $157,000 after purchasing an additional 10,950 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in Arcutis Biotherapeutics by 38.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 11,653 shares of the company's stock worth $163,000 after purchasing an additional 3,234 shares during the period.

Arcutis Biotherapeutics Price Performance

ARQT opened at $24.12 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.99 and a current ratio of 3.17. Arcutis Biotherapeutics, Inc. has a 52-week low of $12.42 and a 52-week high of $31.77. The stock has a market capitalization of $2.99 billion, a PE ratio of -172.27 and a beta of 1.76. The stock's 50 day moving average price is $24.61 and its 200-day moving average price is $25.40.

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. Arcutis Biotherapeutics had a negative return on equity of 10.26% and a negative net margin of 4.29%.The company had revenue of $129.50 million for the quarter, compared to analyst estimates of $110.79 million. On average, equities research analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

Insider Activity at Arcutis Biotherapeutics

In related news, Director Howard G. Welgus sold 10,000 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $23.88, for a total transaction of $238,800.00. Following the sale, the director directly owned 39,744 shares in the company, valued at $949,086.72. The trade was a 20.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Todd Watanabe sold 37,349 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $25.18, for a total value of $940,447.82. Following the sale, the insider owned 785,957 shares in the company, valued at $19,790,397.26. This represents a 4.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 159,546 shares of company stock valued at $4,032,162 over the last ninety days. Insiders own 9.40% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ARQT shares. Needham & Company LLC boosted their target price on Arcutis Biotherapeutics from $31.00 to $36.00 and gave the company a "buy" rating in a research note on Thursday, February 26th. HC Wainwright boosted their target price on Arcutis Biotherapeutics from $30.00 to $34.00 and gave the company a "buy" rating in a research note on Thursday, February 26th. TD Cowen boosted their target price on Arcutis Biotherapeutics from $30.00 to $35.00 and gave the company a "buy" rating in a research note on Thursday, February 26th. Wall Street Zen cut Arcutis Biotherapeutics from a "strong-buy" rating to a "buy" rating in a research note on Saturday, February 14th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Arcutis Biotherapeutics in a research note on Friday, March 27th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Arcutis Biotherapeutics has an average rating of "Moderate Buy" and an average target price of $34.00.

Arcutis Biotherapeutics 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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