Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Shares Bought by Rhumbline Advisers

Rhumbline Advisers grew its holdings in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 33.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 167,289 shares of the company’s stock after acquiring an additional 41,956 shares during the quarter. Rhumbline Advisers owned about 0.14% of Arcutis Biotherapeutics worth $1,556,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in ARQT. Victory Capital Management Inc. purchased a new stake in shares of Arcutis Biotherapeutics in the fourth quarter worth approximately $34,000. Amalgamated Bank lifted its stake in shares of Arcutis Biotherapeutics by 48.9% in the fourth quarter. Amalgamated Bank now owns 11,078 shares of the company’s stock worth $36,000 after buying an additional 3,639 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Arcutis Biotherapeutics by 260.2% during the 4th quarter. Franklin Resources Inc. now owns 4,655,544 shares of the company’s stock worth $15,037,000 after buying an additional 3,363,191 shares during the period. Cape Investment Advisory Inc. acquired a new position in Arcutis Biotherapeutics in the 4th quarter valued at $26,000. Finally, Vestal Point Capital LP bought a new position in Arcutis Biotherapeutics in the 4th quarter worth $8,721,000.

Insider Buying and Selling at Arcutis Biotherapeutics

In other news, Director Howard G. Welgus sold 10,000 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $9.31, for a total value of $93,100.00. Following the transaction, the director now directly owns 180,339 shares in the company, valued at approximately $1,678,956.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Arcutis Biotherapeutics news, insider Masaru Matsuda sold 5,220 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $9.02, for a total value of $47,084.40. Following the sale, the insider now directly owns 183,288 shares in the company, valued at $1,653,257.76. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Howard G. Welgus sold 10,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $9.31, for a total transaction of $93,100.00. Following the completion of the transaction, the director now directly owns 180,339 shares of the company’s stock, valued at approximately $1,678,956.09. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,948 shares of company stock worth $360,910. Insiders own 9.50% of the company’s stock.

Arcutis Biotherapeutics Stock Up 0.1 %

NASDAQ:ARQT opened at $10.15 on Friday. The company has a market cap of $1.18 billion, a price-to-earnings ratio of -3.46 and a beta of 1.18. The company has a debt-to-equity ratio of 1.09, a quick ratio of 8.19 and a current ratio of 8.46. The stock’s fifty day moving average price is $9.91 and its two-hundred day moving average price is $9.56. Arcutis Biotherapeutics, Inc. has a 52-week low of $1.76 and a 52-week high of $13.17.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.06. Arcutis Biotherapeutics had a negative return on equity of 145.41% and a negative net margin of 150.51%. The business had revenue of $30.86 million for the quarter, compared to analysts’ expectations of $31.00 million. During the same quarter last year, the business earned ($1.16) earnings per share. On average, analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.56 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Arcutis Biotherapeutics in a research note on Wednesday, August 28th. They set a “buy” rating and a $15.00 target price for the company. Needham & Company LLC reissued a “buy” rating and set a $18.00 target price on shares of Arcutis Biotherapeutics in a research report on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $13.33.

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.