Janus Henderson Group PLC Has $43.68 Million Position in Arcutis Biotherapeutics, Inc. $ARQT

Janus Henderson Group PLC lifted its holdings in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 1.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,854,566 shares of the company’s stock after purchasing an additional 24,505 shares during the period. Janus Henderson Group PLC owned 1.48% of Arcutis Biotherapeutics worth $43,684,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in ARQT. Suvretta Capital Management LLC grew its holdings in Arcutis Biotherapeutics by 14.2% in the 4th quarter. Suvretta Capital Management LLC now owns 11,964,000 shares of the company’s stock valued at $347,435,000 after buying an additional 1,486,000 shares during the last quarter. Vanguard Group Inc. increased its position in Arcutis Biotherapeutics by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 7,253,936 shares of the company’s stock worth $210,654,000 after buying an additional 107,846 shares during the period. Polar Capital Holdings Plc lifted its holdings in shares of Arcutis Biotherapeutics by 4.9% during the fourth quarter. Polar Capital Holdings Plc now owns 5,556,169 shares of the company’s stock worth $161,351,000 after buying an additional 257,415 shares during the last quarter. State Street Corp boosted its position in shares of Arcutis Biotherapeutics by 18.2% in the fourth quarter. State Street Corp now owns 5,488,301 shares of the company’s stock valued at $159,380,000 after acquiring an additional 846,986 shares during the period. Finally, Morgan Stanley boosted its position in shares of Arcutis Biotherapeutics by 1.5% in the fourth quarter. Morgan Stanley now owns 4,340,239 shares of the company’s stock valued at $126,041,000 after acquiring an additional 63,845 shares during the period.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ARQT. Needham & Company LLC restated a “buy” rating and issued a $36.00 price objective on shares of Arcutis Biotherapeutics in a research note on Thursday, May 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a report on Wednesday, June 24th. Finally, Wall Street Zen upgraded shares of Arcutis Biotherapeutics from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

Arcutis Biotherapeutics Price Performance

Shares of ARQT stock opened at $26.86 on Monday. Arcutis Biotherapeutics, Inc. has a 12 month low of $13.69 and a 12 month high of $31.77. The company has a market capitalization of $3.36 billion, a P/E ratio of -895.03 and a beta of 1.48. The stock has a 50 day moving average of $25.55 and a two-hundred day moving average of $24.69. The company has a current ratio of 2.68, a quick ratio of 2.46 and a debt-to-equity ratio of 0.54.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). The firm had revenue of $105.40 million for the quarter, compared to the consensus estimate of $103.67 million. Arcutis Biotherapeutics had a negative net margin of 0.57% and a negative return on equity of 1.41%. As a group, equities analysts expect that Arcutis Biotherapeutics, Inc. will post 0.16 EPS for the current year.

Insiders Place Their Bets

In other Arcutis Biotherapeutics news, Director Howard G. Welgus sold 4,096 shares of Arcutis Biotherapeutics stock in a transaction on Monday, June 15th. The shares were sold at an average price of $24.41, for a total transaction of $99,983.36. Following the sale, the director owned 38,378 shares in the company, valued at $936,806.98. The trade was a 9.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sue-Jean Lin sold 4,946 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $24.38, for a total transaction of $120,583.48. Following the completion of the transaction, the director owned 27,567 shares of the company’s stock, valued at approximately $672,083.46. This represents a 15.21% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 10,334 shares of company stock worth $250,697 in the last quarter. Corporate insiders own 9.40% of the company’s stock.

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.