Erste Asset Management GmbH Has $1.05 Million Stock Position in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Erste Asset Management GmbH increased its stake in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 558.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,100 shares of the company’s stock after purchasing an additional 62,000 shares during the period. Erste Asset Management GmbH owned approximately 0.06% of Arcutis Biotherapeutics worth $1,045,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ARQT. Point72 DIFC Ltd bought a new position in Arcutis Biotherapeutics during the third quarter worth about $25,000. Venturi Wealth Management LLC bought a new position in Arcutis Biotherapeutics during the 4th quarter worth approximately $46,000. LVW Advisors LLC acquired a new position in Arcutis Biotherapeutics during the fourth quarter valued at approximately $166,000. Victory Capital Management Inc. increased its stake in Arcutis Biotherapeutics by 9.9% in the third quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock valued at $119,000 after purchasing an additional 1,155 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new stake in Arcutis Biotherapeutics in the fourth quarter worth $191,000.

Arcutis Biotherapeutics Stock Down 1.3 %

ARQT stock opened at $14.62 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38. The stock has a market capitalization of $1.73 billion, a P/E ratio of -8.17 and a beta of 1.48. Arcutis Biotherapeutics, Inc. has a fifty-two week low of $6.99 and a fifty-two week high of $16.20. The business has a 50-day moving average of $13.52 and a 200-day moving average of $11.80.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.19. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. The firm had revenue of $71.36 million during the quarter, compared to the consensus estimate of $60.52 million. On average, sell-side analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current fiscal year.

Insider Transactions at Arcutis Biotherapeutics

In other news, Director Howard G. Welgus sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $13.00, for a total transaction of $130,000.00. Following the sale, the director now owns 131,944 shares in the company, valued at $1,715,272. This represents a 7.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Todd Franklin Watanabe sold 15,000 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $15.17, for a total value of $227,550.00. Following the completion of the sale, the insider now directly owns 823,430 shares of the company’s stock, valued at approximately $12,491,433.10. The trade was a 1.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 57,848 shares of company stock worth $797,648 in the last three months. Insiders own 9.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ARQT. HC Wainwright reissued a “buy” rating and issued a $19.00 price target on shares of Arcutis Biotherapeutics in a report on Wednesday, February 26th. Mizuho increased their price target on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Needham & Company LLC reiterated a “buy” rating and set a $20.00 price objective on shares of Arcutis Biotherapeutics in a report on Wednesday, February 26th. The Goldman Sachs Group boosted their price objective on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Thursday, February 27th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Arcutis Biotherapeutics in a research note on Monday, February 24th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Arcutis Biotherapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.80.

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.