LVW Advisors LLC Acquires Shares of 11,936 Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

LVW Advisors LLC acquired a new stake in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 11,936 shares of the company’s stock, valued at approximately $166,000.

A number of other hedge funds have also modified their holdings of ARQT. Jennison Associates LLC raised its stake in 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 acquiring an additional 91,803 shares during the last quarter. Rubric Capital Management LP increased its holdings in shares of 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 purchasing an additional 1,150,000 shares during the period. Suvretta Capital Management LLC raised its stake in shares of Arcutis Biotherapeutics by 7.2% during the third quarter. Suvretta Capital Management LLC now owns 10,721,511 shares of the company’s stock worth $99,710,000 after purchasing an additional 717,019 shares during the last quarter. State Street Corp lifted its holdings 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 purchasing an additional 506,788 shares during the period. Finally, Geode Capital Management LLC grew its position in Arcutis Biotherapeutics by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,470,138 shares of the company’s stock valued at $22,977,000 after buying an additional 48,868 shares during the last quarter.

Insider Activity at Arcutis Biotherapeutics

In other news, insider Masaru Matsuda sold 5,015 shares of the firm’s 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 transaction, the insider now owns 178,273 shares in the company, valued at $1,547,409.64. This trade represents a 2.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Terrie Curran sold 8,687 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $10.85, for a total transaction of $94,253.95. Following the completion of the sale, the director now owns 10,139 shares in the company, valued at $110,008.15. This represents a 46.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 78,291 shares of company stock valued at $927,966 in the last ninety days. Corporate insiders own 9.50% of the company’s stock.

Arcutis Biotherapeutics Stock Performance

Shares of ARQT opened at $13.08 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 52-week low of $3.30 and a 52-week high of $16.20. The company has a 50-day simple moving average of $12.96 and a 200-day simple moving average of $10.86. The company has a market capitalization of $1.53 billion, a PE ratio of -7.31 and a beta of 1.30.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its earnings results on Wednesday, November 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.09. The company had revenue of $44.76 million during the quarter, compared to analysts’ expectations of $38.05 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. Equities research analysts predict that Arcutis Biotherapeutics, Inc. will post -1.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ARQT has been the subject of a number of analyst reports. HC Wainwright restated a “buy” rating and set a $19.00 price objective on shares of Arcutis Biotherapeutics in a research report on Monday, January 13th. Needham & Company LLC restated a “buy” rating and issued a $18.00 price objective on shares of Arcutis Biotherapeutics in a research report on Thursday, November 7th. Finally, Mizuho boosted their target price on Arcutis Biotherapeutics from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $16.60.

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.