Tradewinds LLC. Takes Position in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Tradewinds LLC. purchased a new position in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 14,035 shares of the company’s stock, valued at approximately $196,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Intech Investment Management LLC purchased a new position in Arcutis Biotherapeutics in the third quarter worth $345,000. Charles Schwab Investment Management Inc. grew its stake in shares of Arcutis Biotherapeutics by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 859,846 shares of the company’s stock worth $7,997,000 after purchasing an additional 8,522 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Arcutis Biotherapeutics by 30.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 52,503 shares of the company’s stock valued at $488,000 after purchasing an additional 12,180 shares in the last quarter. FMR LLC lifted its stake in shares of Arcutis Biotherapeutics by 25.6% in the third quarter. FMR LLC now owns 171,219 shares of the company’s stock valued at $1,592,000 after purchasing an additional 34,884 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Arcutis Biotherapeutics by 1.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 276,691 shares of the company’s stock worth $2,573,000 after buying an additional 2,912 shares in the last quarter.

Insider Activity

In other news, insider Patrick Burnett sold 12,242 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $15.04, for a total transaction of $184,119.68. Following the completion of the transaction, the insider now owns 121,936 shares of the company’s stock, valued at $1,833,917.44. This represents a 9.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Masaru Matsuda sold 8,338 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $12.70, for a total transaction of $105,892.60. Following the transaction, the insider now owns 178,692 shares in the company, valued at approximately $2,269,388.40. The trade was a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,099 shares of company stock valued at $777,956 over the last 90 days. Insiders own 9.50% of the company’s stock.

Arcutis Biotherapeutics Stock Performance

NASDAQ ARQT opened at $14.98 on Wednesday. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67. Arcutis Biotherapeutics, Inc. has a fifty-two week low of $6.99 and a fifty-two week high of $17.75. The business has a fifty day moving average of $14.08 and a 200-day moving average of $12.33. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of -8.37 and a beta of 1.48.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share 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 the consensus estimate of $60.52 million. As a group, analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Jefferies Financial Group increased their target price on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, March 11th. The Goldman Sachs Group lifted their price objective on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, February 27th. HC Wainwright reissued a “buy” rating and issued a $19.00 target price on shares of Arcutis Biotherapeutics in a report on Wednesday, February 26th. Mizuho lifted their price target on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price objective on shares of Arcutis Biotherapeutics in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Arcutis Biotherapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $18.80.

About Arcutis Biotherapeutics

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.