E Fund Management Co. Ltd. Trims Holdings in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

E Fund Management Co. Ltd. lowered its position in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 59.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,759 shares of the company’s stock after selling 23,107 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Arcutis Biotherapeutics were worth $147,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ARQT. Price T Rowe Associates Inc. MD lifted its stake in shares of Arcutis Biotherapeutics by 3.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 47,753 shares of the company’s stock valued at $474,000 after buying an additional 1,681 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Arcutis Biotherapeutics by 9.8% in the first quarter. ProShare Advisors LLC now owns 20,990 shares of the company’s stock valued at $208,000 after acquiring an additional 1,870 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of 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 during the period. Amalgamated Bank grew its position in shares of Arcutis Biotherapeutics by 48.9% during the fourth quarter. Amalgamated Bank now owns 11,078 shares of the company’s stock worth $36,000 after purchasing an additional 3,639 shares in the last quarter. Finally, CWM LLC raised its stake 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.

Insiders Place Their Bets

In other news, insider Masaru Matsuda sold 5,220 shares of Arcutis Biotherapeutics 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 transaction, the insider now owns 183,288 shares in the company, valued at approximately $1,653,257.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Howard G. Welgus sold 10,000 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $9.87, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Masaru Matsuda sold 5,220 shares of the firm’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 owns 183,288 shares of the company’s stock, valued at approximately $1,653,257.76. The disclosure for this sale can be found here. Insiders have sold 36,948 shares of company stock valued at $360,910 over the last ninety days. 9.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ARQT shares. 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. Jefferies Financial Group started coverage on shares of Arcutis Biotherapeutics in a report on Wednesday, August 28th. They issued a “buy” rating and a $15.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $13.33.

Arcutis Biotherapeutics Stock Down 2.5 %

NASDAQ ARQT opened at $10.14 on Friday. The stock has a 50 day moving average price of $9.92 and a 200-day moving average price of $9.57. Arcutis Biotherapeutics, Inc. has a one year low of $1.76 and a one year high of $13.17. The company has a market capitalization of $1.17 billion, a P/E 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.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its earnings results on Wednesday, August 14th. The company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.06. Arcutis Biotherapeutics had a negative net margin of 150.51% and a negative return on equity of 145.41%. 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 previous year, the firm posted ($1.16) EPS. As a group, equities analysts predict that Arcutis Biotherapeutics, Inc. will post -1.56 EPS for the current fiscal year.

Arcutis Biotherapeutics 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.