AQR Capital Management LLC Acquires 226,258 Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

AQR Capital Management LLC grew its holdings in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 727.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 257,357 shares of the company’s stock after acquiring an additional 226,258 shares during the period. AQR Capital Management LLC owned about 0.22% of Arcutis Biotherapeutics worth $2,393,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in ARQT. Cantor Fitzgerald L. P. bought a new position in Arcutis Biotherapeutics in the 4th quarter worth approximately $33,000. CWM LLC boosted its position in shares of 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 acquiring an additional 4,044 shares during the last quarter. Ameritas Investment Partners Inc. grew its stake in Arcutis Biotherapeutics by 55.2% during the first quarter. Ameritas Investment Partners Inc. now owns 7,871 shares of the company’s stock valued at $78,000 after acquiring an additional 2,800 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Arcutis Biotherapeutics in the 2nd quarter valued at $174,000. Finally, China Universal Asset Management Co. Ltd. lifted its stake in Arcutis Biotherapeutics by 70.5% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 18,614 shares of the company’s stock worth $184,000 after purchasing an additional 7,694 shares in the last quarter.

Insider Activity

In related news, insider Masaru Matsuda sold 5,220 shares of Arcutis Biotherapeutics stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $9.02, for a total transaction of $47,084.40. Following the completion of the transaction, the insider now directly owns 183,288 shares of the company’s stock, valued at approximately $1,653,257.76. The trade was a 0.00 % decrease in their position. The transaction 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 the firm’s stock in a transaction dated Friday, August 2nd. The shares were 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 of the company’s stock, valued at $1,653,257.76. This trade represents 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 available at this hyperlink. Also, SVP Larry Todd Edwards sold 3,725 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $10.01, for a total value of $37,287.25. Following the transaction, the senior vice president now directly owns 136,635 shares in the company, valued at approximately $1,367,716.35. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,299 shares of company stock valued at $507,911. 9.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ARQT has been the topic of several research reports. Jefferies Financial Group initiated coverage on Arcutis Biotherapeutics in a research report on Wednesday, August 28th. They issued a “buy” rating and a $15.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price objective on shares of Arcutis Biotherapeutics in a report on Thursday, August 15th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $13.33.

Arcutis Biotherapeutics Trading Down 1.1 %

ARQT opened at $9.68 on Wednesday. Arcutis Biotherapeutics, Inc. has a 12 month low of $1.76 and a 12 month high of $13.17. The company has a current ratio of 8.46, a quick ratio of 8.19 and a debt-to-equity ratio of 1.09. The stock has a 50-day moving average of $9.82 and a 200 day moving average of $9.48. The firm has a market cap of $1.12 billion, a P/E ratio of -3.30 and a beta of 1.17.

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

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.