J. Goldman & Co LP Sells 879,573 Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

J. Goldman & Co LP lessened its position in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) by 58.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 612,644 shares of the company's stock after selling 879,573 shares during the quarter. J. Goldman & Co LP owned 0.52% of Arcutis Biotherapeutics worth $8,534,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Summit Investment Advisors Inc. boosted its holdings in shares of Arcutis Biotherapeutics by 8.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 11,245 shares of the company's stock worth $157,000 after purchasing an additional 837 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of Arcutis Biotherapeutics by 10.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 24,818 shares of the company's stock valued at $346,000 after buying an additional 2,336 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in Arcutis Biotherapeutics in the 4th quarter worth approximately $46,000. Swiss National Bank boosted its stake in Arcutis Biotherapeutics by 1.6% in the fourth quarter. Swiss National Bank now owns 206,900 shares of the company's stock worth $2,882,000 after buying an additional 3,300 shares in the last quarter. Finally, MetLife Investment Management LLC grew its position in Arcutis Biotherapeutics by 6.2% during the fourth quarter. MetLife Investment Management LLC now owns 65,471 shares of the company's stock valued at $912,000 after acquiring an additional 3,813 shares during the last quarter.

Arcutis Biotherapeutics Trading Up 3.5%

NASDAQ:ARQT traded up $0.48 during midday trading on Friday, reaching $14.11. 1,817,478 shares of the stock traded hands, compared to its average volume of 2,319,102. The stock has a market capitalization of $1.68 billion, a P/E ratio of -7.88 and a beta of 1.87. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46. The company has a fifty day moving average of $14.72 and a 200 day moving average of $13.35. Arcutis Biotherapeutics, Inc. has a 12 month low of $6.99 and a 12 month high of $17.75.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.21) by $0.01. The firm had revenue of $65.85 million for the quarter, compared to analysts' expectations of $64.80 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. On average, research analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

Insider Activity at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, Director Howard G. Welgus sold 10,000 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $13.00, for a total transaction of $130,000.00. Following the transaction, the director now directly owns 131,944 shares of the company's stock, valued at approximately $1,715,272. The trade was a 7.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Patrick Burnett sold 3,871 shares of the company's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $13.59, for a total transaction of $52,606.89. Following the completion of the transaction, the insider now owns 115,468 shares of the company's stock, valued at $1,569,210.12. This trade represents a 3.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,662 shares of company stock worth $527,326 in the last 90 days. Company insiders own 9.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ARQT. Guggenheim restated a "buy" rating on shares of Arcutis Biotherapeutics in a report on Thursday, April 3rd. Needham & Company LLC reissued a "buy" rating and issued a $20.00 price target on shares of Arcutis Biotherapeutics in a research note on Wednesday, April 9th. Jefferies Financial Group upped their price target on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a "buy" rating in a research report on Tuesday, March 11th. HC Wainwright reiterated a "buy" rating and issued a $19.00 price objective on shares of Arcutis Biotherapeutics in a report on Thursday, April 3rd. Finally, The Goldman Sachs Group boosted their target price on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a "neutral" rating in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $18.80.

About Arcutis Biotherapeutics

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.