ProShare Advisors LLC Acquires Shares of 10,379 Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

ProShare Advisors LLC acquired a new stake in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT – Get Rating) during the 4th quarter, Holdings Channel.com reports. The fund acquired 10,379 shares of the company’s stock, valued at approximately $154,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Credit Suisse AG raised its position in shares of Arcutis Biotherapeutics by 2.9% during the 2nd quarter. Credit Suisse AG now owns 17,741 shares of the company’s stock worth $378,000 after purchasing an additional 502 shares during the period. Point72 Hong Kong Ltd raised its position in shares of Arcutis Biotherapeutics by 102.9% during the 2nd quarter. Point72 Hong Kong Ltd now owns 1,197 shares of the company’s stock worth $26,000 after purchasing an additional 607 shares during the period. Amalgamated Bank raised its position in shares of Arcutis Biotherapeutics by 19.5% during the 3rd quarter. Amalgamated Bank now owns 6,612 shares of the company’s stock worth $126,000 after purchasing an additional 1,079 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Arcutis Biotherapeutics by 19.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,026 shares of the company’s stock worth $104,000 after purchasing an additional 1,134 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Arcutis Biotherapeutics by 0.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 313,943 shares of the company’s stock worth $5,999,000 after purchasing an additional 1,335 shares during the period.

Wall Street Analyst Weigh In

Several analysts recently commented on ARQT shares. Truist Financial lowered their target price on Arcutis Biotherapeutics from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, March 29th. Morgan Stanley lowered their target price on Arcutis Biotherapeutics from $50.00 to $47.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 12th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcutis Biotherapeutics in a research note on Wednesday, March 1st. Needham & Company LLC reissued a “buy” rating and set a $24.00 price objective on shares of Arcutis Biotherapeutics in a research note on Wednesday, April 19th. Finally, Mizuho reissued a “buy” rating and set a $61.00 price objective on shares of Arcutis Biotherapeutics in a research note on Tuesday, April 11th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, Arcutis Biotherapeutics has an average rating of “Buy” and a consensus target price of $46.83.

Insider Buying and Selling at Arcutis Biotherapeutics

In other news, Director Howard G. Welgus sold 8,500 shares of Arcutis Biotherapeutics stock in a transaction dated Wednesday, February 15th. The stock was sold at an average price of $16.98, for a total value of $144,330.00. Following the transaction, the director now directly owns 165,825 shares in the company, valued at $2,815,708.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Todd Franklin Watanabe sold 5,472 shares of the stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $15.83, for a total value of $86,621.76. Following the completion of the sale, the insider now directly owns 369,092 shares of the company’s stock, valued at $5,842,726.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Howard G. Welgus sold 8,500 shares of the stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $16.98, for a total value of $144,330.00. Following the completion of the sale, the director now directly owns 165,825 shares of the company’s stock, valued at $2,815,708.50. The disclosure for this sale can be found here. Insiders have sold a total of 41,573 shares of company stock worth $619,390 over the last three months. Corporate insiders own 23.00% of the company’s stock.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ:ARQT opened at $14.56 on Friday. Arcutis Biotherapeutics, Inc. has a 1 year low of $10.05 and a 1 year high of $27.40. The business has a fifty day simple moving average of $12.90 and a 200 day simple moving average of $15.24. The company has a current ratio of 11.57, a quick ratio of 11.37 and a debt-to-equity ratio of 0.94. The firm has a market cap of $893.42 million, a price-to-earnings ratio of -2.58 and a beta of 0.47.

Arcutis Biotherapeutics (NASDAQ:ARQT – Get Rating) last posted its earnings results on Tuesday, February 28th. The company reported ($1.18) earnings per share for the quarter, beating the consensus estimate of ($1.37) by $0.19. The company had revenue of $2.96 million for the quarter, compared to the consensus estimate of $2.84 million. As a group, sell-side analysts predict that Arcutis Biotherapeutics, Inc. will post -4.81 earnings per share for the current fiscal year.

Arcutis Biotherapeutics Profile

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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.