ProShare Advisors LLC Sells 3,251 Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

ProShare Advisors LLC reduced its position in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 15.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 17,739 shares of the company’s stock after selling 3,251 shares during the quarter. ProShare Advisors LLC’s holdings in Arcutis Biotherapeutics were worth $165,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. CWM LLC grew its stake in shares of Arcutis Biotherapeutics by 6,740.0% in the 2nd quarter. CWM LLC now owns 4,104 shares of the company’s stock worth $38,000 after buying an additional 4,044 shares in the last quarter. Ameritas Investment Partners Inc. grew its position in Arcutis Biotherapeutics by 55.2% in the first quarter. Ameritas Investment Partners Inc. now owns 7,871 shares of the company’s stock worth $78,000 after acquiring an additional 2,800 shares in the last quarter. Cantor Fitzgerald L. P. bought a new stake in Arcutis Biotherapeutics during the fourth quarter worth approximately $33,000. China Universal Asset Management Co. Ltd. raised its position in Arcutis Biotherapeutics by 70.5% during the first quarter. China Universal Asset Management Co. Ltd. now owns 18,614 shares of the company’s stock valued at $184,000 after purchasing an additional 7,694 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Arcutis Biotherapeutics in the 2nd quarter valued at approximately $174,000.

Wall Street Analysts Forecast Growth

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

Arcutis Biotherapeutics Stock Performance

Shares of Arcutis Biotherapeutics stock opened at $10.02 on Friday. Arcutis Biotherapeutics, Inc. has a 52 week low of $1.76 and a 52 week high of $13.17. The company has a market capitalization of $1.16 billion, a PE ratio of -3.42 and a beta of 1.17. The stock’s fifty day moving average is $9.81 and its two-hundred day moving average is $9.49. The company has a quick ratio of 8.19, a current ratio of 8.46 and a debt-to-equity ratio of 1.09.

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

Insider Transactions at Arcutis Biotherapeutics

In related news, insider Masaru Matsuda sold 5,220 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $9.02, for a total value of $47,084.40. Following the completion of the sale, the insider now owns 183,288 shares in the company, valued at approximately $1,653,257.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Arcutis Biotherapeutics news, insider Masaru Matsuda sold 5,220 shares of Arcutis Biotherapeutics stock in a transaction on 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 of the company’s stock, valued at $1,653,257.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Larry Todd Edwards sold 3,725 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $10.01, for a total value of $37,287.25. Following the completion of the sale, the senior vice president now owns 136,635 shares of the company’s stock, valued at $1,367,716.35. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,299 shares of company stock valued at $507,911. 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.