Stempoint Capital LP Has $9.75 Million Stake in Arcutis Biotherapeutics, Inc. $ARQT

Stempoint Capital LP lifted its position in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 84.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 413,792 shares of the company’s stock after buying an additional 189,052 shares during the quarter. Arcutis Biotherapeutics comprises about 1.9% of Stempoint Capital LP’s holdings, making the stock its 15th largest position. Stempoint Capital LP owned 0.33% of Arcutis Biotherapeutics worth $9,749,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. SBI Securities Co. Ltd. boosted its position in Arcutis Biotherapeutics by 325.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,089 shares of the company’s stock valued at $32,000 after acquiring an additional 833 shares during the last quarter. Global Retirement Partners LLC acquired a new position in shares of Arcutis Biotherapeutics in the 4th quarter valued at about $35,000. EverSource Wealth Advisors LLC lifted its stake in shares of Arcutis Biotherapeutics by 124.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the company’s stock valued at $37,000 after purchasing an additional 698 shares during the period. NewEdge Advisors LLC boosted its position in shares of Arcutis Biotherapeutics by 209.0% during the 4th quarter. NewEdge Advisors LLC now owns 1,545 shares of the company’s stock valued at $45,000 after purchasing an additional 1,045 shares in the last quarter. Finally, Truvestments Capital LLC boosted its position in shares of Arcutis Biotherapeutics by 114.2% during the 4th quarter. Truvestments Capital LLC now owns 3,012 shares of the company’s stock valued at $87,000 after purchasing an additional 1,606 shares in the last quarter.

Arcutis Biotherapeutics Stock Performance

Shares of Arcutis Biotherapeutics stock opened at $27.86 on Thursday. The business has a 50-day simple moving average of $25.29 and a 200 day simple moving average of $24.69. Arcutis Biotherapeutics, Inc. has a one year low of $13.69 and a one year high of $31.77. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.68 and a quick ratio of 2.46. The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of -928.36 and a beta of 1.48.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.07). Arcutis Biotherapeutics had a negative return on equity of 1.41% and a negative net margin of 0.57%.The firm had revenue of $105.40 million during the quarter, compared to the consensus estimate of $103.67 million. On average, research analysts anticipate that Arcutis Biotherapeutics, Inc. will post 0.16 earnings per share for the current fiscal year.

Insider Activity at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, Director Howard G. Welgus sold 7,144 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $22.99, for a total transaction of $164,240.56. Following the transaction, the director owned 32,600 shares in the company, valued at approximately $749,474. This represents a 17.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Latha Vairavan sold 1,341 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $23.61, for a total transaction of $31,661.01. Following the completion of the transaction, the chief financial officer directly owned 86,413 shares in the company, valued at $2,040,210.93. This trade represents a 1.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 30,931 shares of company stock valued at $730,086 over the last three months. 9.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Wall Street Zen upgraded Arcutis Biotherapeutics from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a report on Wednesday, June 24th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $36.00 price objective on shares of Arcutis Biotherapeutics in a research report on Thursday, May 7th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $34.00.

Arcutis Biotherapeutics 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.