28,743 Shares in Arcutis Biotherapeutics, Inc. $ARQT Acquired by D.A. Davidson & CO.

D.A. Davidson & CO. bought a new position in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) in the fourth quarter, HoldingsChannel reports. The firm bought 28,743 shares of the company’s stock, valued at approximately $835,000.

A number of other large investors have also bought and sold shares of ARQT. Johnson Investment Counsel Inc. bought a new stake in Arcutis Biotherapeutics during the 3rd quarter worth approximately $30,000. Jones Financial Companies Lllp increased its stake in Arcutis Biotherapeutics by 1,291.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 7,067 shares of the company’s stock worth $124,000 after purchasing an additional 6,559 shares in the last quarter. Quantbot Technologies LP bought a new stake in Arcutis Biotherapeutics during the 2nd quarter worth approximately $145,000. Russell Investments Group Ltd. increased its stake in Arcutis Biotherapeutics by 4,562.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 11,190 shares of the company’s stock worth $157,000 after purchasing an additional 10,950 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Arcutis Biotherapeutics by 38.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 11,653 shares of the company’s stock worth $163,000 after purchasing an additional 3,234 shares in the last quarter.

Arcutis Biotherapeutics Trading Up 0.6%

ARQT stock opened at $23.49 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.17 and a quick ratio of 2.99. The company has a fifty day moving average price of $23.86 and a two-hundred day moving average price of $25.74. Arcutis Biotherapeutics, Inc. has a one year low of $12.42 and a one year high of $31.77. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of -167.77 and a beta of 1.58.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its earnings results on Wednesday, February 25th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.10. Arcutis Biotherapeutics had a negative return on equity of 10.26% and a negative net margin of 4.29%.The company had revenue of $129.50 million during the quarter, compared to the consensus estimate of $110.79 million. Equities analysts anticipate that Arcutis Biotherapeutics, Inc. will post 0.18 EPS for the current year.

Insider Buying and Selling

In related news, insider Masaru Matsuda sold 8,733 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $25.30, for a total value of $220,944.90. Following the transaction, the insider owned 136,932 shares in the company, valued at approximately $3,464,379.60. This trade represents a 6.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Larry Todd Edwards sold 3,687 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $25.18, for a total value of $92,838.66. Following the completion of the transaction, the insider owned 175,178 shares in the company, valued at $4,410,982.04. The trade was a 2.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 82,028 shares of company stock valued at $2,068,893 in the last ninety days. Insiders own 9.40% of the company’s stock.

Wall Street Analyst Weigh In

ARQT has been the subject of a number of research reports. Needham & Company LLC increased their target price on Arcutis Biotherapeutics from $31.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Guggenheim increased their target price on Arcutis Biotherapeutics from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a research note on Friday, March 27th. Wall Street Zen cut Arcutis Biotherapeutics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 14th. Finally, 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 note on Thursday, February 26th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus 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.