E Fund Management Co. Ltd. Sells 2,906 Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

E Fund Management Co. Ltd. lowered its position in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 16.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,879 shares of the company’s stock after selling 2,906 shares during the period. E Fund Management Co. Ltd.’s holdings in Arcutis Biotherapeutics were worth $207,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Suvretta Capital Management LLC boosted its holdings in shares of Arcutis Biotherapeutics by 7.2% during the third quarter. Suvretta Capital Management LLC now owns 10,721,511 shares of the company’s stock worth $99,710,000 after purchasing an additional 717,019 shares during the period. Fishman Jay A Ltd. MI raised its position in Arcutis Biotherapeutics by 28.3% during the 4th quarter. Fishman Jay A Ltd. MI now owns 536,400 shares of the company’s stock valued at $7,472,000 after purchasing an additional 118,400 shares during the last quarter. GSA Capital Partners LLP lifted its holdings in Arcutis Biotherapeutics by 730.0% in the 3rd quarter. GSA Capital Partners LLP now owns 237,174 shares of the company’s stock worth $2,206,000 after buying an additional 208,599 shares during the period. Rubric Capital Management LP grew its position in shares of Arcutis Biotherapeutics by 11.7% in the 3rd quarter. Rubric Capital Management LP now owns 10,966,672 shares of the company’s stock worth $101,990,000 after buying an additional 1,150,000 shares during the last quarter. Finally, Algert Global LLC increased its stake in shares of Arcutis Biotherapeutics by 595.9% during the third quarter. Algert Global LLC now owns 72,480 shares of the company’s stock valued at $674,000 after buying an additional 62,065 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ARQT shares. Guggenheim reaffirmed a “buy” rating on shares of Arcutis Biotherapeutics in a research note on Monday, February 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 target price on shares of Arcutis Biotherapeutics in a research note on Wednesday, February 26th. Mizuho boosted their price target on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. HC Wainwright restated a “buy” rating and issued a $19.00 price objective on shares of Arcutis Biotherapeutics in a report on Wednesday, February 26th. Finally, The Goldman Sachs Group lifted their price objective on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Arcutis Biotherapeutics has an average rating of “Moderate Buy” and an average price target of $18.00.

Insiders Place Their Bets

In other news, Director Howard G. Welgus sold 10,000 shares of Arcutis Biotherapeutics stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $13.00, for a total value of $130,000.00. Following the completion of the transaction, the director now owns 131,944 shares of the company’s stock, valued at $1,715,272. The trade was a 7.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Masaru Matsuda sold 8,338 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $12.70, for a total transaction of $105,892.60. Following the sale, the insider now directly owns 178,692 shares in the company, valued at $2,269,388.40. This trade represents a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,848 shares of company stock valued at $797,648. 9.50% of the stock is currently owned by corporate insiders.

Arcutis Biotherapeutics Trading Up 1.5 %

NASDAQ:ARQT opened at $14.72 on Monday. The firm has a market capitalization of $1.75 billion, a P/E ratio of -8.22 and a beta of 1.48. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38. Arcutis Biotherapeutics, Inc. has a one year low of $6.99 and a one year high of $16.20. The company’s 50-day simple moving average is $13.45 and its 200 day simple moving average is $11.68.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.19. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. The firm had revenue of $71.36 million during the quarter, compared to analyst estimates of $60.52 million. As a group, analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current fiscal year.

Arcutis Biotherapeutics Profile

Arcutis Biotherapeutics, Inc, a biopharmaceutical company, focuses on developing and commercializing treatments for dermatological diseases. Its lead product candidate is ARQ-151, a topical roflumilast cream that has completed Phase III clinical trials for the treatment of plaque psoriasis and atopic dermatitis.