Arcutis Biotherapeutics, Inc. $ARQT Shares Purchased by Profund Advisors LLC

Profund Advisors LLC increased its holdings in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 97.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 64,171 shares of the company’s stock after buying an additional 31,615 shares during the period. Profund Advisors LLC owned about 0.05% of Arcutis Biotherapeutics worth $1,864,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. grew its stake in shares of Arcutis Biotherapeutics by 325.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,089 shares of the company’s stock worth $32,000 after acquiring an additional 833 shares in the last quarter. Johnson Investment Counsel Inc. purchased a new stake in Arcutis Biotherapeutics during the 3rd quarter worth about $30,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Arcutis Biotherapeutics by 28.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,952 shares of the company’s stock worth $173,000 after purchasing an additional 1,316 shares during the period. Jones Financial Companies Lllp raised its position in Arcutis Biotherapeutics by 1,291.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 7,067 shares of the company’s stock valued at $124,000 after purchasing an additional 6,559 shares in the last quarter. Finally, Whalen Wealth Management Inc. purchased a new position in shares of Arcutis Biotherapeutics in the 4th quarter valued at about $233,000.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ARQT shares. Needham & Company LLC reissued a “buy” rating and set a $36.00 price objective on shares of Arcutis Biotherapeutics in a research report on Thursday, May 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a research note on Friday, March 27th. Mizuho lowered their price target on shares of Arcutis Biotherapeutics from $37.00 to $35.00 and set an “outperform” rating for the company in a report on Monday, March 2nd. HC Wainwright raised their price objective on shares of Arcutis Biotherapeutics from $30.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Finally, Guggenheim lifted their price objective on shares of Arcutis Biotherapeutics from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Arcutis Biotherapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $34.00.

Arcutis Biotherapeutics Price Performance

ARQT stock opened at $20.47 on Thursday. The business has a 50 day moving average price of $22.85 and a 200 day moving average price of $25.71. The company has a quick ratio of 2.46, a current ratio of 2.68 and a debt-to-equity ratio of 0.54. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of -682.11 and a beta of 1.58. Arcutis Biotherapeutics, Inc. has a fifty-two week low of $12.72 and a fifty-two week high of $31.77.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.07). The company had revenue of $105.40 million during the quarter, compared to analysts’ expectations of $103.68 million. Arcutis Biotherapeutics had a negative net margin of 0.57% and a negative return on equity of 1.41%. Equities research analysts anticipate that Arcutis Biotherapeutics, Inc. will post 0.15 earnings per share for the current fiscal year.

Insider Transactions at Arcutis Biotherapeutics

In related news, insider Patrick Burnett sold 6,287 shares of Arcutis Biotherapeutics stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $25.18, for a total transaction of $158,306.66. Following the sale, the insider directly owned 121,150 shares in the company, valued at $3,050,557. This trade represents a 4.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Howard G. Welgus sold 10,000 shares of the business’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $23.88, for a total transaction of $238,800.00. Following the completion of the sale, the director directly owned 39,744 shares of the company’s stock, valued at approximately $949,086.72. This trade represents a 20.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 93,488 shares of company stock worth $2,309,329. Insiders own 9.40% of the company’s stock.

Arcutis Biotherapeutics Company Profile

Arcutis Biotherapeutics is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for immuno-inflammatory skin diseases. The company’s research and development efforts center on targeted treatments that address the underlying biology of conditions such as plaque psoriasis, atopic dermatitis, seborrheic dermatitis and vitiligo. Arcutis employs a precision-medicine approach to deliver topical therapies designed to improve efficacy and tolerability compared with existing treatment options.

In August 2022, Arcutis received U.S.