Los Angeles Capital Management LLC Has $429,000 Position in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Los Angeles Capital Management LLC cut its position in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 75.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,793 shares of the company’s stock after selling 94,310 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Arcutis Biotherapeutics were worth $429,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ARQT. Victory Capital Management Inc. increased its stake in shares of 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 buying an additional 1,155 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings in Arcutis Biotherapeutics by 10.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 24,818 shares of the company’s stock worth $346,000 after acquiring an additional 2,336 shares during the last quarter. Point72 DIFC Ltd acquired a new position in Arcutis Biotherapeutics in the 3rd quarter valued at approximately $25,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake 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 acquiring an additional 2,912 shares during the last quarter. Finally, Venturi Wealth Management LLC acquired a new position in shares of Arcutis Biotherapeutics during the fourth quarter worth $46,000.

Arcutis Biotherapeutics Stock Down 6.3 %

Shares of NASDAQ:ARQT opened at $12.83 on Tuesday. Arcutis Biotherapeutics, Inc. has a 1 year low of $6.99 and a 1 year high of $16.20. 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 business’s 50-day moving average is $13.53 and its 200-day moving average is $11.48. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of -7.17 and a beta of 1.29.

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

Insider Transactions at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, insider Masaru Matsuda sold 8,338 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $12.70, for a total transaction of $105,892.60. Following the transaction, the insider now owns 178,692 shares in the company, valued at approximately $2,269,388.40. This represents a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Todd Franklin Watanabe sold 15,000 shares of the firm’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 completion of the transaction, 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 have sold 45,029 shares of company stock valued at $630,917 in the last 90 days. 9.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ARQT has been the subject of a number of recent research reports. Guggenheim restated a “buy” rating on shares of Arcutis Biotherapeutics in a report on Monday, February 24th. Needham & Company LLC reissued a “buy” rating and issued a $20.00 price target on shares of Arcutis Biotherapeutics in a research note on Wednesday, February 26th. The Goldman Sachs Group lifted their price objective on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday, February 27th. HC Wainwright reiterated a “buy” rating and issued a $19.00 target price on shares of Arcutis Biotherapeutics in a report on Wednesday, February 26th. Finally, Mizuho raised their price target on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock 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 company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $18.00.

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.