Ellsworth Advisors LLC Takes $868,000 Position in Arcutis Biotherapeutics, Inc. $ARQT

Ellsworth Advisors LLC bought a new stake in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 29,887 shares of the company’s stock, valued at approximately $868,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ARQT. Focus Partners Wealth lifted its position in Arcutis Biotherapeutics by 0.8% during the 3rd quarter. Focus Partners Wealth now owns 65,196 shares of the company’s stock worth $1,237,000 after acquiring an additional 490 shares during the period. Arizona State Retirement System increased its holdings in shares of Arcutis Biotherapeutics by 1.8% in the third quarter. Arizona State Retirement System now owns 31,685 shares of the company’s stock valued at $597,000 after purchasing an additional 568 shares during the period. AlphaQuest LLC raised its stake in shares of Arcutis Biotherapeutics by 5.7% in the third quarter. AlphaQuest LLC now owns 12,603 shares of the company’s stock worth $238,000 after purchasing an additional 682 shares during the last quarter. Creative Planning raised its stake in shares of Arcutis Biotherapeutics by 8.2% in the second quarter. Creative Planning now owns 19,575 shares of the company’s stock worth $274,000 after purchasing an additional 1,477 shares during the last quarter. Finally, LVW Advisors LLC lifted its holdings in shares of Arcutis Biotherapeutics by 7.4% during the fourth quarter. LVW Advisors LLC now owns 22,189 shares of the company’s stock worth $644,000 after purchasing an additional 1,535 shares during the period.

Insider Transactions at Arcutis Biotherapeutics

In related news, insider Patrick Burnett sold 9,794 shares of the stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $25.81, for a total transaction of $252,783.14. Following the sale, the insider directly owned 80,651 shares of the company’s stock, valued at approximately $2,081,602.31. This represents a 10.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Todd Watanabe sold 37,349 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $25.18, for a total transaction of $940,447.82. Following the sale, the insider directly owned 785,957 shares in the company, valued at $19,790,397.26. This trade represents a 4.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 162,036 shares of company stock worth $4,155,122. Insiders own 9.40% of the company’s stock.

Arcutis Biotherapeutics Stock Up 2.3%

Shares of ARQT stock opened at $24.10 on Thursday. The stock has a 50 day moving average of $24.93 and a 200 day moving average of $24.96. The company has a current ratio of 3.17, a quick ratio of 2.99 and a debt-to-equity ratio of 0.57. The stock has a market cap of $2.99 billion, a P/E ratio of -172.13 and a beta of 1.76. Arcutis Biotherapeutics, Inc. has a twelve month low of $11.86 and a twelve month high of $31.77.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.03 by $0.10. The business had revenue of $129.50 million for the quarter, compared to analyst estimates of $110.79 million. Arcutis Biotherapeutics had a negative return on equity of 10.26% and a negative net margin of 4.29%. As a group, sell-side analysts expect that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ARQT shares. Mizuho dropped their target price on Arcutis Biotherapeutics from $37.00 to $35.00 and set an “outperform” rating on the stock in a research report on Monday, March 2nd. TD Cowen raised their price target on shares of Arcutis Biotherapeutics from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a research note on Friday, March 27th. Needham & Company LLC increased their price objective on shares of Arcutis Biotherapeutics from $31.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Finally, HC Wainwright boosted their target price on shares of Arcutis Biotherapeutics from $30.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Arcutis Biotherapeutics has an average rating of “Moderate Buy” and an average target price of $34.00.

Arcutis Biotherapeutics Profile

Arcutis Biotherapeutics is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for immuno-inflammatory skin diseases. The company’s research and development efforts center on targeted treatments that address the underlying biology of conditions such as plaque psoriasis, atopic dermatitis, seborrheic dermatitis and vitiligo. Arcutis employs a precision-medicine approach to deliver topical therapies designed to improve efficacy and tolerability compared with existing treatment options.

In August 2022, Arcutis received U.S.