Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. cut its position in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 57.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,000 shares of the company’s stock after selling 28,191 shares during the period. Vontobel Holding Ltd.’s holdings in Arcutis Biotherapeutics were worth $68,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ARQT. Bank of New York Mellon Corp increased its holdings in shares of Arcutis Biotherapeutics by 12.9% in the third quarter. Bank of New York Mellon Corp now owns 237,779 shares of the company’s stock valued at $1,263,000 after purchasing an additional 27,170 shares during the period. Jennison Associates LLC grew its holdings in Arcutis Biotherapeutics by 3.2% in the third quarter. Jennison Associates LLC now owns 4,432,175 shares of the company’s stock valued at $23,535,000 after purchasing an additional 138,209 shares during the period. Jump Financial LLC acquired a new stake in Arcutis Biotherapeutics in the third quarter valued at approximately $108,000. Fox Run Management L.L.C. acquired a new stake in Arcutis Biotherapeutics in the third quarter valued at approximately $60,000. Finally, Swiss National Bank grew its holdings in Arcutis Biotherapeutics by 9.9% in the third quarter. Swiss National Bank now owns 101,200 shares of the company’s stock valued at $537,000 after purchasing an additional 9,100 shares during the period.

Arcutis Biotherapeutics Stock Performance

Shares of Arcutis Biotherapeutics stock opened at $8.75 on Thursday. Arcutis Biotherapeutics, Inc. has a one year low of $1.76 and a one year high of $15.21. The company has a market cap of $847.09 million, a price-to-earnings ratio of -2.23 and a beta of 1.14. The company has a debt-to-equity ratio of 2.28, a quick ratio of 6.80 and a current ratio of 7.08. The business’s 50 day moving average price is $10.14 and its 200 day moving average price is $5.71.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.08). Arcutis Biotherapeutics had a negative return on equity of 294.85% and a negative net margin of 439.79%. The company had revenue of $13.53 million for the quarter, compared to analysts’ expectations of $11.78 million. During the same quarter in the previous year, the business posted ($1.18) EPS. On average, research analysts predict that Arcutis Biotherapeutics, Inc. will post -2.49 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Needham & Company LLC reissued a “buy” rating and issued a $16.00 price objective on shares of Arcutis Biotherapeutics in a report on Friday, April 12th. Mizuho restated a “buy” rating and issued a $16.00 target price (up previously from $8.00) on shares of Arcutis Biotherapeutics in a research report on Friday, February 23rd. Finally, The Goldman Sachs Group raised their target price on Arcutis Biotherapeutics from $6.00 to $11.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $26.56.

Insider Buying and Selling

In related news, insider Masaru Matsuda sold 3,760 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $11.12, for a total transaction of $41,811.20. Following the transaction, the insider now owns 190,424 shares in the company, valued at $2,117,514.88. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 20.70% of the stock is currently owned by company insiders.

Arcutis Biotherapeutics 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.