Creative Planning Purchases New Shares in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Creative Planning acquired a new position in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 13,676 shares of the company’s stock, valued at approximately $127,000.

A number of other large investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its stake in Arcutis Biotherapeutics by 3.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 47,753 shares of the company’s stock worth $474,000 after acquiring an additional 1,681 shares in the last quarter. ProShare Advisors LLC lifted its stake in Arcutis Biotherapeutics by 9.8% in the first quarter. ProShare Advisors LLC now owns 20,990 shares of the company’s stock worth $208,000 after acquiring an additional 1,870 shares during the period. Ameritas Investment Partners Inc. grew its holdings in Arcutis Biotherapeutics by 55.2% during the 1st 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. CWM LLC increased its position in Arcutis Biotherapeutics by 6,740.0% during the 2nd quarter. CWM LLC now owns 4,104 shares of the company’s stock valued at $38,000 after purchasing an additional 4,044 shares during the period. Finally, Dark Forest Capital Management LP raised its holdings in shares of Arcutis Biotherapeutics by 29.9% in the 2nd quarter. Dark Forest Capital Management LP now owns 27,612 shares of the company’s stock valued at $257,000 after purchasing an additional 6,362 shares in the last quarter.

Insider Buying and Selling

In other Arcutis Biotherapeutics news, insider Masaru Matsuda sold 5,015 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $8.68, for a total value of $43,530.20. Following the transaction, the insider now owns 178,273 shares in the company, valued at approximately $1,547,409.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Arcutis Biotherapeutics news, insider Masaru Matsuda sold 5,015 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $8.68, for a total value of $43,530.20. Following the completion of the sale, the insider now owns 178,273 shares in the company, valued at approximately $1,547,409.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Larry Todd Edwards sold 3,725 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $10.01, for a total transaction of $37,287.25. Following the completion of the transaction, the senior vice president now directly owns 136,635 shares in the company, valued at $1,367,716.35. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,094 shares of company stock worth $492,157 in the last 90 days. Insiders own 9.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $18.00 price objective on shares of Arcutis Biotherapeutics in a research note on Thursday, November 7th. Jefferies Financial Group started coverage on shares of Arcutis Biotherapeutics in a report on Wednesday, August 28th. They set a “buy” rating and a $15.00 price objective on the stock. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Arcutis Biotherapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $14.40.

Arcutis Biotherapeutics Trading Down 5.4 %

Arcutis Biotherapeutics stock opened at $10.25 on Wednesday. The firm has a market cap of $1.20 billion, a PE ratio of -5.73 and a beta of 1.18. Arcutis Biotherapeutics, Inc. has a 12 month low of $1.76 and a 12 month high of $13.17. The stock’s 50 day simple moving average is $9.66 and its two-hundred day simple moving average is $9.35. The company has a current ratio of 2.46, a quick ratio of 8.19 and a debt-to-equity ratio of 0.67.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its earnings results on Wednesday, November 6th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.09. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. The business had revenue of $44.76 million during the quarter, compared to the consensus estimate of $38.05 million. Analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.37 earnings per share for the current year.

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.