Legato Capital Management LLC Sells 13,437 Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Legato Capital Management LLC reduced its holdings in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 23.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 42,771 shares of the company’s stock after selling 13,437 shares during the quarter. Legato Capital Management LLC’s holdings in Arcutis Biotherapeutics were worth $596,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ARQT. Victory Capital Management Inc. increased its stake in shares of Arcutis Biotherapeutics by 9.9% in the 3rd quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock valued at $119,000 after acquiring an additional 1,155 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in Arcutis Biotherapeutics by 10.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 24,818 shares of the company’s stock worth $346,000 after purchasing an additional 2,336 shares during the period. Point72 DIFC Ltd bought a new stake in Arcutis Biotherapeutics in the third quarter valued at $25,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Arcutis Biotherapeutics by 1.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 276,691 shares of the company’s stock valued at $2,573,000 after purchasing an additional 2,912 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Arcutis Biotherapeutics by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 859,846 shares of the company’s stock worth $7,997,000 after purchasing an additional 8,522 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ARQT shares. HC Wainwright reaffirmed a “buy” rating and set a $19.00 price target on shares of Arcutis Biotherapeutics in a research note on Monday, January 13th. Guggenheim reissued a “buy” rating on shares of Arcutis Biotherapeutics in a research report on Monday, February 10th. Mizuho raised their price objective on shares of Arcutis Biotherapeutics from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Tuesday, January 7th. Finally, Needham & Company LLC reissued a “buy” rating and set a $18.00 price target on shares of Arcutis Biotherapeutics in a research report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.60.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ:ARQT opened at $12.78 on Friday. The company has a market capitalization of $1.50 billion, a P/E ratio of -7.14 and a beta of 1.29. The company’s 50-day moving average is $13.64 and its 200 day moving average is $11.21. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46. Arcutis Biotherapeutics, Inc. has a fifty-two week low of $6.99 and a fifty-two week high of $16.20.

Insider Buying and Selling at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, insider Todd Franklin Watanabe sold 15,000 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $15.17, for a total value of $227,550.00. Following the sale, the insider now directly owns 823,430 shares in the company, valued at $12,491,433.10. The trade was a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Patrick Burnett sold 16,023 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $10.14, for a total value of $162,473.22. Following the transaction, the insider now owns 128,669 shares of the company’s stock, valued at $1,304,703.66. The trade was a 11.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 72,827 shares of company stock worth $935,672 over the last three months. 9.50% of the stock is currently owned by insiders.

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.