AQR Capital Management LLC grew its holdings in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT – Free Report) 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
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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 – Get Free Report) 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.
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