Tejara Capital Ltd Takes Position in Arcutis Biotherapeutics, Inc. $ARQT

Tejara Capital Ltd bought a new position in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) during the second quarter, HoldingsChannel.com reports. The fund bought 113,084 shares of the company’s stock, valued at approximately $2,965,000. Arcutis Biotherapeutics accounts for 1.2% of Tejara Capital Ltd’s portfolio, making the stock its 24th biggest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. boosted its position in Arcutis Biotherapeutics by 325.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,089 shares of the company’s stock valued at $32,000 after buying an additional 833 shares during the period. Global Retirement Partners LLC purchased a new position in shares of Arcutis Biotherapeutics during the fourth quarter worth approximately $35,000. EverSource Wealth Advisors LLC raised its stake in shares of Arcutis Biotherapeutics by 124.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the company’s stock valued at $37,000 after acquiring an additional 698 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Arcutis Biotherapeutics by 209.0% in the fourth 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 during the period. Finally, Truvestments Capital LLC grew its stake in Arcutis Biotherapeutics by 114.2% in the fourth quarter. Truvestments Capital LLC now owns 3,012 shares of the company’s stock worth $87,000 after purchasing an additional 1,606 shares in the last quarter.

Insider Activity

In related news, insider Masaru Matsuda sold 1,230 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $26.12, for a total value of $32,127.60. Following the transaction, the insider owned 126,171 shares in the company, valued at approximately $3,295,586.52. This represents a 0.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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. Also, insider Patrick Burnett sold 6,700 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $26.08, for a total transaction of $174,736.00. Following the sale, the insider owned 119,289 shares of the company’s stock, valued at approximately $3,111,057.12. The trade was a 5.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 35,967 shares of company stock valued at $926,898. 9.40% of the stock is owned by insiders.

Arcutis Biotherapeutics Trading Down 4.2%

Arcutis Biotherapeutics stock opened at $25.35 on Friday. The stock has a market cap of $3.19 billion, a PE ratio of 120.72 and a beta of 1.49. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.67 and a current ratio of 2.92. The stock has a 50-day moving average of $26.76 and a two-hundred day moving average of $24.68. Arcutis Biotherapeutics, Inc. has a one year low of $15.10 and a one year high of $31.77.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its earnings results on Wednesday, August 5th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.05. The company had revenue of $129.86 million for the quarter, compared to the consensus estimate of $118.85 million. Arcutis Biotherapeutics had a net margin of 6.15% and a return on equity of 15.05%. On average, research analysts anticipate that Arcutis Biotherapeutics, Inc. will post 0.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Morgan Stanley increased 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. Weiss Ratings upgraded shares of Arcutis Biotherapeutics from a “sell (d-)” rating to a “hold (c-)” rating in a report on Thursday, August 6th. Wall Street Zen raised shares of Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Guggenheim boosted their price target on shares of Arcutis Biotherapeutics from $35.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Needham & Company LLC upped their price target on shares of Arcutis Biotherapeutics from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $35.57.

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.