Venturi Wealth Management LLC Acquires New Stake in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Venturi Wealth Management LLC acquired a new stake in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,300 shares of the company’s stock, valued at approximately $46,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Point72 DIFC Ltd bought a new position in Arcutis Biotherapeutics in the 3rd quarter worth about $25,000. Erste Asset Management GmbH bought a new position in Arcutis Biotherapeutics in the 3rd quarter worth about $104,000. Victory Capital Management Inc. raised its holdings in Arcutis Biotherapeutics by 9.9% in the 3rd quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock worth $119,000 after acquiring an additional 1,155 shares during the last quarter. Creative Planning purchased a new position in Arcutis Biotherapeutics in the 3rd quarter worth approximately $127,000. Finally, LVW Advisors LLC purchased a new position in Arcutis Biotherapeutics in the 4th quarter worth approximately $166,000.

Analyst Upgrades and Downgrades

ARQT has been the subject of a number of recent analyst reports. Needham & Company LLC restated a “buy” rating and issued a $18.00 price objective on shares of Arcutis Biotherapeutics in a report on Thursday, November 7th. Guggenheim reaffirmed a “buy” rating on shares of Arcutis Biotherapeutics in a report on Monday. Mizuho upped their price target on Arcutis Biotherapeutics from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Tuesday, January 7th. Finally, HC Wainwright reissued a “buy” rating and set a $19.00 price objective on shares of Arcutis Biotherapeutics in a report on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $16.60.

Insider Activity at Arcutis Biotherapeutics

In related news, Director Howard G. Welgus sold 10,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $12.71, for a total value of $127,100.00. Following the completion of the transaction, the director now directly owns 141,944 shares of the company’s stock, valued at $1,804,108.24. This trade represents a 6.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Todd Franklin Watanabe sold 15,000 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $15.17, for a total transaction of $227,550.00. Following the sale, the insider now directly owns 823,430 shares in the company, valued at $12,491,433.10. This trade represents a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,029 shares of company stock valued at $756,017 over the last 90 days. Insiders own 9.50% of the company’s stock.

Arcutis Biotherapeutics Trading Down 1.5 %

Shares of Arcutis Biotherapeutics stock opened at $12.20 on Wednesday. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -6.82 and a beta of 1.29. Arcutis Biotherapeutics, Inc. has a twelve month low of $6.99 and a twelve month high of $16.20. The business has a 50-day moving average price of $13.59 and a 200-day moving average price of $11.41. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.19. The business had revenue of $71.36 million for the quarter, compared to the consensus estimate of $60.52 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. Equities research analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current fiscal 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.