Arcutis Biotherapeutics, Inc. $ARQT Shares Newly Bought by Yousif Capital Management LLC

Yousif Capital Management LLC acquired a new stake in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 30,489 shares of the company’s stock, valued at approximately $806,000.

Several other hedge funds have also recently bought and sold shares of the company. Montanova Capital LLC grew its position in Arcutis Biotherapeutics by 0.9% in the 2nd quarter. Montanova Capital LLC now owns 12,437,000 shares of the company’s stock worth $326,098,000 after purchasing an additional 110,000 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Arcutis Biotherapeutics in the second quarter valued at approximately $276,502,000. Bank of America Corp DE acquired a new stake in shares of Arcutis Biotherapeutics in the second quarter valued at approximately $78,330,000. Janus Henderson Group PLC raised its holdings in shares of Arcutis Biotherapeutics by 1.3% during the first quarter. Janus Henderson Group PLC now owns 1,854,566 shares of the company’s stock valued at $43,684,000 after buying an additional 24,505 shares during the last quarter. Finally, Jupiter Topco LLC bought a new stake in shares of Arcutis Biotherapeutics during the second quarter valued at approximately $36,989,000.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ARQT shares. Jefferies Financial Group reiterated a “buy” rating and set a $39.00 price objective on shares of Arcutis Biotherapeutics in a research report on Thursday, October 8th. Weiss Ratings upgraded Arcutis Biotherapeutics from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday. Needham & Company LLC raised their target price on Arcutis Biotherapeutics from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Cantor Fitzgerald started coverage on Arcutis Biotherapeutics in a research note on Thursday, October 15th. They set an “overweight” rating and a $48.00 target price on the stock. Finally, Morgan Stanley boosted their price target on Arcutis Biotherapeutics from $34.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $39.12.

Insider Buying and Selling at Arcutis Biotherapeutics

In other news, Director Howard Welgus sold 4,730 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $26.18, for a total transaction of $123,831.40. Following the completion of the transaction, the director owned 36,475 shares in the company, valued at approximately $954,915.50. This trade represents a 11.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Terrie Curran sold 38,200 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $25.03, for a total transaction of $956,146.00. Following the completion of the transaction, the director directly owned 23,526 shares in the company, valued at $588,855.78. This represents a 61.89% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 77,393 shares of company stock worth $1,971,944. Company insiders own 9.40% of the company’s stock.

Arcutis Biotherapeutics Stock Performance

Shares of Arcutis Biotherapeutics stock opened at $32.07 on Monday. The company has a quick ratio of 2.67, a current ratio of 2.92 and a debt-to-equity ratio of 0.46. The firm has a market cap of $4.03 billion, a price-to-earnings ratio of 152.72 and a beta of 1.66. The business has a fifty day simple moving average of $26.66 and a 200-day simple moving average of $25.28. Arcutis Biotherapeutics, Inc. has a fifty-two week low of $19.30 and a fifty-two week high of $33.30.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its earnings results on Wednesday, August 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. Arcutis Biotherapeutics had a return on equity of 15.05% and a net margin of 6.15%. The firm had revenue of $129.86 million for the quarter, compared to analyst estimates of $118.85 million. On average, equities analysts forecast that Arcutis Biotherapeutics, Inc. will post 0.43 EPS for the current fiscal year.

About Arcutis Biotherapeutics

Arcutis Biotherapeutics, Inc is a commercial-stage biopharmaceutical company focused on developing and delivering treatments for dermatologic conditions. The company’s portfolio is centered on therapies designed to address inflammatory skin diseases, with an emphasis on nonsteroidal topical medicines that may help patients manage chronic conditions.

Arcutis’s lead product is ZORYVE (roflumilast), a topical phosphodiesterase-4 inhibitor. ZORYVE has received U.S. Food and Drug Administration approvals for multiple dermatological uses, including plaque psoriasis, seborrheic dermatitis and atopic dermatitis, in different cream and foam formulations.