Tocqueville Asset Management L.P. Sells 5,000 Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Tocqueville Asset Management L.P. reduced its position in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 26.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 14,200 shares of the company’s stock after selling 5,000 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Arcutis Biotherapeutics were worth $198,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ARQT. Victory Capital Management Inc. boosted its position in shares of Arcutis Biotherapeutics by 9.9% during 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 during the last quarter. Quest Partners LLC bought a new position in shares of Arcutis Biotherapeutics during the 3rd quarter valued at approximately $398,000. Jennison Associates LLC raised its holdings in Arcutis Biotherapeutics by 0.8% during the 3rd quarter. Jennison Associates LLC now owns 11,663,497 shares of the company’s stock valued at $108,471,000 after buying an additional 91,803 shares during the period. Intech Investment Management LLC purchased a new stake in Arcutis Biotherapeutics during the 3rd quarter valued at $345,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Arcutis Biotherapeutics by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 859,846 shares of the company’s stock valued at $7,997,000 after buying an additional 8,522 shares during the period.

Insider Transactions at Arcutis Biotherapeutics

In other news, insider Patrick Burnett sold 12,242 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $15.04, for a total transaction of $184,119.68. Following the transaction, the insider now owns 121,936 shares of the company’s stock, valued at approximately $1,833,917.44. This represents a 9.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Masaru Matsuda sold 8,338 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $12.70, for a total value of $105,892.60. Following the transaction, the insider now directly owns 178,692 shares in the company, valued at $2,269,388.40. The trade was a 4.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,290 shares of company stock valued at $775,350. 9.50% of the stock is currently owned by corporate insiders.

Arcutis Biotherapeutics Stock Performance

ARQT stock opened at $16.77 on Friday. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67. The business’s fifty day simple moving average is $13.61 and its two-hundred day simple moving average is $11.99. Arcutis Biotherapeutics, Inc. has a twelve month low of $6.99 and a twelve month high of $17.70. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of -9.37 and a beta of 1.48.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its 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 business had revenue of $71.36 million for the quarter, compared to analyst estimates of $60.52 million. Analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ARQT. Guggenheim restated a “buy” rating on shares of Arcutis Biotherapeutics in a report on Monday, February 24th. Needham & Company LLC restated a “buy” rating and set a $20.00 price target on shares of Arcutis Biotherapeutics in a report on Wednesday, February 26th. Jefferies Financial Group increased their price target on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, March 11th. HC Wainwright restated a “buy” rating and set a $19.00 price target on shares of Arcutis Biotherapeutics in a report on Wednesday, February 26th. Finally, Mizuho increased their price target on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Arcutis Biotherapeutics has a consensus rating of “Moderate Buy” and an average price target of $18.80.

About Arcutis Biotherapeutics

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.