25,297 Arcutis Biotherapeutics, Inc. $ARQT Shares Sold by CenterBook Partners LP

CenterBook Partners LP decreased its holdings in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 41.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,646 shares of the company’s stock after selling 25,297 shares during the period. CenterBook Partners LP’s holdings in Arcutis Biotherapeutics were worth $942,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ARQT. Montanova Capital LLC boosted its stake in shares of Arcutis Biotherapeutics by 0.9% during the 2nd quarter. Montanova Capital LLC now owns 12,437,000 shares of the company’s stock worth $326,098,000 after acquiring an additional 110,000 shares during the period. BlackRock Inc. acquired a new position in shares of Arcutis Biotherapeutics during the 2nd quarter worth approximately $276,502,000. Bank of America Corp DE acquired a new position in shares of Arcutis Biotherapeutics during the 2nd quarter worth approximately $78,330,000. Janus Henderson Group PLC increased its holdings in shares of Arcutis Biotherapeutics by 1.3% during the 1st quarter. Janus Henderson Group PLC now owns 1,854,566 shares of the company’s stock worth $43,684,000 after acquiring an additional 24,505 shares during the last quarter. Finally, Jupiter Topco LLC bought a new stake in Arcutis Biotherapeutics in the 2nd quarter valued at $36,989,000.

Insider Activity at Arcutis Biotherapeutics

In related news, 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 sale, the director directly owned 23,526 shares of the company’s stock, valued at approximately $588,855.78. This trade represents a 61.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Masaru Matsuda sold 40,000 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $34.32, for a total value of $1,372,800.00. Following the sale, the executive vice president directly owned 111,289 shares of the company’s stock, valued at approximately $3,819,438.48. The trade was a 26.44% 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 have sold 108,932 shares of company stock valued at $3,158,225 in the last 90 days. Corporate insiders own 9.40% of the company’s stock.

Arcutis Biotherapeutics Trading Up 4.5%

Shares of ARQT stock opened at $27.39 on Wednesday. The firm has a 50 day moving average price of $27.28 and a two-hundred day moving average price of $25.37. The company has a quick ratio of 2.66, a current ratio of 2.92 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $3.46 billion, a PE ratio of 130.43 and a beta of 1.66. Arcutis Biotherapeutics, Inc. has a 12-month low of $19.30 and a 12-month high of $34.80.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.12). Arcutis Biotherapeutics had a return on equity of 14.18% and a net margin of 5.88%. The firm had revenue of $143.92 million for the quarter, compared to the consensus estimate of $142.59 million. As a group, analysts predict that Arcutis Biotherapeutics, Inc. will post 0.28 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Weiss Ratings raised Arcutis Biotherapeutics from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 29th. Morgan Stanley lifted their price objective on shares of Arcutis Biotherapeutics from $34.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Cantor Fitzgerald began coverage on shares of Arcutis Biotherapeutics in a report on Thursday, October 15th. They issued an “overweight” rating and a $48.00 price objective on the stock. Wall Street Zen lowered shares of Arcutis Biotherapeutics from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, TD Cowen increased their price objective on shares of Arcutis Biotherapeutics from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, November 5th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.75.

Arcutis Biotherapeutics Company Profile

Arcutis Biotherapeutics is a biopharmaceutical company focused on developing and commercializing treatments for inflammatory skin diseases. Founded in 2016, the company is headquartered in Westlake Village, California. Arcutis primarily serves the U.S. market and continues to develop medicines for dermatologic conditions. Its leadership is headed by President and Chief Executive Officer Frank Watanabe.