Bellevue Group AG Grows Stock Holdings in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Bellevue Group AG increased its stake in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 125.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,500 shares of the company’s stock after purchasing an additional 22,000 shares during the quarter. Bellevue Group AG’s holdings in Arcutis Biotherapeutics were worth $367,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Jennison Associates LLC lifted its holdings in shares of Arcutis Biotherapeutics by 0.8% during the 3rd quarter. Jennison Associates LLC now owns 11,663,497 shares of the company’s stock valued at $108,471,000 after buying an additional 91,803 shares during the period. Rubric Capital Management LP lifted its holdings in Arcutis Biotherapeutics by 11.7% in the third quarter. Rubric Capital Management LP now owns 10,966,672 shares of the company’s stock valued at $101,990,000 after acquiring an additional 1,150,000 shares during the period. Suvretta Capital Management LLC lifted its holdings in Arcutis Biotherapeutics by 7.2% in the third quarter. Suvretta Capital Management LLC now owns 10,721,511 shares of the company’s stock valued at $99,710,000 after acquiring an additional 717,019 shares during the period. Vanguard Group Inc. boosted its position in Arcutis Biotherapeutics by 5.5% in the first quarter. Vanguard Group Inc. now owns 5,166,417 shares of the company’s stock worth $51,199,000 after purchasing an additional 269,904 shares during the last quarter. Finally, Perceptive Advisors LLC grew its stake in shares of Arcutis Biotherapeutics by 107.8% during the 2nd quarter. Perceptive Advisors LLC now owns 1,558,500 shares of the company’s stock valued at $14,494,000 after purchasing an additional 808,500 shares during the period.

Insider Buying and Selling

In other news, Director Howard G. Welgus sold 10,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $8.65, for a total value of $86,500.00. Following the transaction, the director now directly owns 171,944 shares in the company, valued at $1,487,315.60. The trade was a 5.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David Joseph Topper sold 11,626 shares of the stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $9.48, for a total value of $110,214.48. Following the sale, the chief financial officer now owns 158,374 shares of the company’s stock, valued at $1,501,385.52. This represents a 6.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 76,951 shares of company stock valued at $752,744. Company insiders own 9.50% of the company’s stock.

Arcutis Biotherapeutics Trading Up 11.4 %

Shares of NASDAQ:ARQT opened at $13.04 on Monday. The stock has a 50 day moving average of $9.71 and a 200 day moving average of $9.56. The company has a market cap of $1.53 billion, a PE ratio of -7.28 and a beta of 1.18. Arcutis Biotherapeutics, Inc. has a 12-month low of $1.76 and a 12-month high of $13.50. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.09. The business had revenue of $44.76 million during the quarter, compared to analyst estimates of $38.05 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. As a group, equities research analysts expect that Arcutis Biotherapeutics, Inc. will post -1.34 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ARQT. Needham & Company LLC reissued a “buy” rating and issued a $18.00 price objective on shares of Arcutis Biotherapeutics in a report on Thursday, November 7th. Jefferies Financial Group initiated coverage on shares of Arcutis Biotherapeutics in a research note on Wednesday, August 28th. They set a “buy” rating and a $15.00 price target on the stock.

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.