Rockefeller Capital Management L.P. Purchases 2,637 Shares of Arcutis Biotherapeutics, Inc. $ARQT

Rockefeller Capital Management L.P. lifted its holdings in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 14.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,094 shares of the company’s stock after buying an additional 2,637 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Arcutis Biotherapeutics were worth $296,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Allostery Investments LP acquired a new stake in shares of Arcutis Biotherapeutics during the first quarter worth $117,000. PNC Financial Services Group Inc. grew its position in Arcutis Biotherapeutics by 10.2% in the second quarter. PNC Financial Services Group Inc. now owns 8,828 shares of the company’s stock valued at $124,000 after purchasing an additional 820 shares in the last quarter. Atlas Wealth LLC acquired a new position in Arcutis Biotherapeutics during the second quarter worth $138,000. Baader Bank Aktiengesellschaft acquired a new stake in Arcutis Biotherapeutics in the 1st quarter valued at about $156,000. Finally, GK Wealth Management LLC bought a new position in shares of Arcutis Biotherapeutics during the 1st quarter worth approximately $163,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ARQT shares. HC Wainwright restated a “buy” rating and set a $30.00 price objective on shares of Arcutis Biotherapeutics in a report on Wednesday, October 29th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Arcutis Biotherapeutics in a research note on Tuesday, October 14th. Wall Street Zen raised Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. Mizuho raised their target price on shares of Arcutis Biotherapeutics from $32.00 to $37.00 and gave the company an “outperform” rating in a report on Friday. Finally, Needham & Company LLC boosted their price objective on shares of Arcutis Biotherapeutics from $22.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Arcutis Biotherapeutics has a consensus rating of “Moderate Buy” and an average target price of $29.00.

Arcutis Biotherapeutics Price Performance

Arcutis Biotherapeutics stock opened at $30.47 on Friday. The stock’s 50 day moving average is $22.94 and its 200 day moving average is $17.68. Arcutis Biotherapeutics, Inc. has a one year low of $11.13 and a one year high of $31.27. The firm has a market cap of $3.73 billion, a P/E ratio of -84.64 and a beta of 1.97. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.50 and a quick ratio of 3.28.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.16. Arcutis Biotherapeutics had a negative net margin of 13.94% and a negative return on equity of 29.69%. The company had revenue of $99.22 million during the quarter, compared to analysts’ expectations of $86.69 million. As a group, research analysts expect that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

Insider Transactions at Arcutis Biotherapeutics

In related news, Director Sue-Jean Lin sold 25,272 shares of Arcutis Biotherapeutics stock in a transaction on Monday, November 24th. The shares were sold at an average price of $30.78, for a total value of $777,872.16. Following the completion of the sale, the director owned 26,735 shares of the company’s stock, valued at approximately $822,903.30. This trade represents a 48.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Todd Watanabe sold 48,945 shares of the company’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $30.36, for a total transaction of $1,485,970.20. Following the transaction, the insider owned 740,537 shares in the company, valued at approximately $22,482,703.32. The trade was a 6.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 372,331 shares of company stock valued at $8,870,939. 9.40% of the stock is owned by insiders.

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.