Ensign Peak Advisors Inc Reduces Stock Holdings in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Ensign Peak Advisors Inc trimmed its position in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 28.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,133,702 shares of the company’s stock after selling 846,645 shares during the period. Ensign Peak Advisors Inc owned approximately 1.84% of Arcutis Biotherapeutics worth $19,843,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ARQT. Cape Investment Advisory Inc. acquired a new position in shares of Arcutis Biotherapeutics during the 4th quarter worth $26,000. Cantor Fitzgerald L. P. acquired a new stake in shares of Arcutis Biotherapeutics in the 4th quarter worth approximately $33,000. Victory Capital Management Inc. purchased a new position in Arcutis Biotherapeutics in the 4th quarter valued at approximately $34,000. CWM LLC raised its holdings in Arcutis Biotherapeutics by 6,740.0% during the second quarter. CWM LLC now owns 4,104 shares of the company’s stock worth $38,000 after purchasing an additional 4,044 shares during the last quarter. Finally, Ameritas Investment Partners Inc. boosted its position in Arcutis Biotherapeutics by 55.2% during the first quarter. Ameritas Investment Partners Inc. now owns 7,871 shares of the company’s stock worth $78,000 after purchasing an additional 2,800 shares in the last quarter.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price objective on shares of Arcutis Biotherapeutics in a research report on Thursday, August 15th. 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 price objective for the company. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $13.33.

Arcutis Biotherapeutics Stock Down 5.1 %

ARQT stock opened at $9.63 on Tuesday. Arcutis Biotherapeutics, Inc. has a one year low of $1.76 and a one year high of $13.17. The stock has a market capitalization of $1.11 billion, a P/E ratio of -3.29 and a beta of 1.18. The company has a 50 day moving average price of $9.89 and a two-hundred day moving average price of $9.54. The company has a debt-to-equity ratio of 1.09, a quick ratio of 8.19 and a current ratio of 8.46.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its earnings results on Wednesday, August 14th. The company reported ($0.42) earnings per share for the quarter, topping 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 firm had revenue of $30.86 million for the quarter, compared to the consensus estimate of $31.00 million. During the same period in the prior year, the business posted ($1.16) earnings per share. As a group, sell-side analysts expect that Arcutis Biotherapeutics, Inc. will post -1.56 EPS for the current year.

Insider Buying and Selling

In other Arcutis Biotherapeutics news, insider Masaru Matsuda sold 5,220 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $9.02, for a total transaction of $47,084.40. Following the completion of the sale, the insider now directly owns 183,288 shares in the company, valued at $1,653,257.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Masaru Matsuda sold 5,220 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 183,288 shares in the company, valued at $1,653,257.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Howard G. Welgus sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $9.87, for a total transaction of $98,700.00. Following the sale, the director now owns 176,953 shares of the company’s stock, valued at $1,746,526.11. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,948 shares of company stock valued at $360,910. 9.50% of the stock is currently owned by company insiders.

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.