Los Angeles Capital Management LLC Has $1.47 Million Holdings in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Los Angeles Capital Management LLC cut its stake in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 23.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 148,433 shares of the company’s stock after selling 46,028 shares during the period. Los Angeles Capital Management LLC owned approximately 0.15% of Arcutis Biotherapeutics worth $1,471,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ARQT. Jennison Associates LLC lifted its holdings in Arcutis Biotherapeutics by 104.6% during the fourth quarter. Jennison Associates LLC now owns 9,066,082 shares of the company’s stock worth $29,283,000 after acquiring an additional 4,633,907 shares in the last quarter. Frazier Life Sciences Management L.P. lifted its holdings in shares of Arcutis Biotherapeutics by 0.9% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 8,764,232 shares of the company’s stock valued at $28,308,000 after purchasing an additional 80,000 shares in the last quarter. Rubric Capital Management LP lifted its holdings in shares of Arcutis Biotherapeutics by 32.0% in the fourth quarter. Rubric Capital Management LP now owns 6,644,530 shares of the company’s stock valued at $21,462,000 after purchasing an additional 1,610,000 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Arcutis Biotherapeutics by 260.2% in the fourth quarter. Franklin Resources Inc. now owns 4,655,544 shares of the company’s stock valued at $15,037,000 after purchasing an additional 3,363,191 shares in the last quarter. Finally, Vestal Point Capital LP bought a new stake in shares of Arcutis Biotherapeutics in the fourth quarter valued at about $8,721,000.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ ARQT opened at $8.49 on Friday. The business’s 50 day moving average price is $8.61 and its two-hundred day moving average price is $7.47. The company has a market cap of $982.80 million, a PE ratio of -2.90 and a beta of 1.17. The company has a quick ratio of 9.61, a current ratio of 9.89 and a debt-to-equity ratio of 0.90. Arcutis Biotherapeutics, Inc. has a twelve month low of $1.76 and a twelve month high of $13.17.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings results on Tuesday, May 14th. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.28. The firm had revenue of $49.57 million for the quarter. Arcutis Biotherapeutics had a negative return on equity of 197.28% and a negative net margin of 204.35%. During the same period last year, the firm earned ($1.31) EPS. On average, analysts predict that Arcutis Biotherapeutics, Inc. will post -1.6 EPS for the current year.

Insider Activity

In other news, SVP Larry Todd Edwards sold 7,640 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $8.98, for a total value of $68,607.20. Following the transaction, the senior vice president now owns 140,360 shares of the company’s stock, valued at $1,260,432.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Arcutis Biotherapeutics news, insider Patrick Burnett sold 23,000 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $8.75, for a total transaction of $201,250.00. Following the completion of the sale, the insider now directly owns 209,793 shares in the company, valued at $1,835,688.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Larry Todd Edwards sold 7,640 shares of the company’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $8.98, for a total value of $68,607.20. Following the sale, the senior vice president now owns 140,360 shares of the company’s stock, valued at $1,260,432.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,415 shares of company stock valued at $285,850. 9.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Mizuho boosted their price target on Arcutis Biotherapeutics from $17.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Needham & Company LLC upped their target price on Arcutis Biotherapeutics from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Finally, The Goldman Sachs Group upped their target price on Arcutis Biotherapeutics from $6.00 to $11.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Arcutis Biotherapeutics has an average rating of “Moderate Buy” and an average price target of $25.38.

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.