151,293 Shares in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Bought by Jackson Creek Investment Advisors LLC

Jackson Creek Investment Advisors LLC acquired a new stake in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 151,293 shares of the company’s stock, valued at approximately $2,108,000. Arcutis Biotherapeutics accounts for 0.6% of Jackson Creek Investment Advisors LLC’s investment portfolio, making the stock its 7th biggest position. Jackson Creek Investment Advisors LLC owned about 0.13% of Arcutis Biotherapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Rubric Capital Management LP grew its position in Arcutis Biotherapeutics by 11.7% in the 3rd quarter. Rubric Capital Management LP now owns 10,966,672 shares of the company’s stock valued at $101,990,000 after buying an additional 1,150,000 shares during the last quarter. Suvretta Capital Management LLC lifted its stake in shares of Arcutis Biotherapeutics by 7.2% in the 3rd quarter. Suvretta Capital Management LLC now owns 10,721,511 shares of the company’s stock worth $99,710,000 after acquiring an additional 717,019 shares during the period. Jennison Associates LLC boosted its holdings in shares of Arcutis Biotherapeutics by 5.8% in the fourth quarter. Jennison Associates LLC now owns 12,339,792 shares of the company’s stock valued at $171,893,000 after acquiring an additional 676,295 shares in the last quarter. State Street Corp increased its stake in shares of Arcutis Biotherapeutics by 9.9% during the third quarter. State Street Corp now owns 5,641,631 shares of the company’s stock worth $52,467,000 after acquiring an additional 506,788 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in Arcutis Biotherapeutics during the third quarter worth about $2,273,000.

Insider Activity at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, Director Howard G. Welgus sold 10,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.67, for a total value of $146,700.00. Following the completion of the transaction, the director now directly owns 151,944 shares in the company, valued at approximately $2,229,018.48. The trade was a 6.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Masaru Matsuda sold 8,338 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $12.70, for a total value of $105,892.60. Following the transaction, the insider now directly owns 178,692 shares in the company, valued at approximately $2,269,388.40. This represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 57,848 shares of company stock valued at $797,648. 9.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

Arcutis Biotherapeutics Stock Down 1.9 %

Arcutis Biotherapeutics stock opened at $14.50 on Friday. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of -8.10 and a beta of 1.48. Arcutis Biotherapeutics, Inc. has a fifty-two week low of $6.99 and a fifty-two week high of $16.20. The stock’s fifty day moving average is $13.45 and its two-hundred day moving average is $11.57. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46.

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

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.