Inspire Investing LLC Decreases Position in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Inspire Investing LLC trimmed its holdings in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 34.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 28,923 shares of the company’s stock after selling 15,421 shares during the period. Inspire Investing LLC’s holdings in Arcutis Biotherapeutics were worth $403,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Point72 DIFC Ltd purchased a new position in Arcutis Biotherapeutics in the 3rd quarter worth approximately $25,000. Algert Global LLC purchased a new stake in Arcutis Biotherapeutics during the 2nd quarter valued at $97,000. Erste Asset Management GmbH bought a new stake in Arcutis Biotherapeutics in the 3rd quarter worth $104,000. LVW Advisors LLC purchased a new position in shares of Arcutis Biotherapeutics in the fourth quarter valued at about $166,000. Finally, Victory Capital Management Inc. raised its stake in shares of Arcutis Biotherapeutics by 9.9% during the third quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock valued at $119,000 after acquiring an additional 1,155 shares during the last quarter.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Mizuho raised their target price on Arcutis Biotherapeutics from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. HC Wainwright reiterated a “buy” rating and issued a $19.00 price objective on shares of Arcutis Biotherapeutics in a research report on Monday, January 13th. Finally, Needham & Company LLC restated a “buy” rating and set a $18.00 target price on shares of Arcutis Biotherapeutics in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.60.

Insider Buying and Selling

In other Arcutis Biotherapeutics news, insider Masaru Matsuda sold 5,015 shares of Arcutis Biotherapeutics stock in a transaction on Monday, November 4th. The stock was sold at an average price of $8.68, for a total value of $43,530.20. Following the completion of the sale, the insider now owns 178,273 shares of the company’s stock, valued at approximately $1,547,409.64. This trade represents a 2.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Todd Franklin Watanabe sold 15,000 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $15.17, for a total value of $227,550.00. Following the completion of the transaction, the insider now directly owns 823,430 shares of the company’s stock, valued at approximately $12,491,433.10. This trade represents a 1.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 78,291 shares of company stock worth $927,966 in the last 90 days. Insiders own 9.50% of the company’s stock.

Arcutis Biotherapeutics Trading Up 1.8 %

NASDAQ ARQT opened at $13.85 on Friday. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67. The stock’s 50 day moving average is $13.19 and its 200 day moving average is $10.93. The firm has a market capitalization of $1.62 billion, a PE ratio of -7.74 and a beta of 1.30. Arcutis Biotherapeutics, Inc. has a twelve month low of $4.44 and a twelve month high of $16.20.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.09. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. The business had revenue of $44.76 million for the quarter, compared to analyst estimates of $38.05 million. Research analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.35 earnings per share for the current fiscal year.

Arcutis Biotherapeutics Company 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.