Universal Beteiligungs und Servicegesellschaft mbH Acquires New Holdings in Arcutis Biotherapeutics, Inc. $ARQT

Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) in the third quarter, Holdings Channel reports. The fund acquired 86,485 shares of the company’s stock, valued at approximately $1,630,000.

Several other hedge funds and other institutional investors have also bought and sold shares of ARQT. PNC Financial Services Group Inc. raised its position in shares of Arcutis Biotherapeutics by 10.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,828 shares of the company’s stock worth $124,000 after acquiring an additional 820 shares in the last quarter. Atlas Wealth LLC bought a new stake in Arcutis Biotherapeutics during the second quarter valued at about $138,000. Merit Financial Group LLC bought a new stake in Arcutis Biotherapeutics during the third quarter valued at about $190,000. Quantbot Technologies LP purchased a new position in Arcutis Biotherapeutics in the second quarter valued at about $145,000. Finally, Russell Investments Group Ltd. raised its holdings in Arcutis Biotherapeutics by 4,562.5% in the second 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.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ARQT. HC Wainwright restated a “buy” rating and issued a $30.00 price target on shares of Arcutis Biotherapeutics in a report on Wednesday, October 29th. The Goldman Sachs Group raised their target price on shares of Arcutis Biotherapeutics from $19.00 to $29.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Needham & Company LLC lifted their price target on shares of Arcutis Biotherapeutics from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a report on Monday, December 29th. Finally, Wall Street Zen cut Arcutis Biotherapeutics from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 23rd. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Arcutis Biotherapeutics currently has an average rating of “Moderate Buy” and an average price target of $29.20.

Insiders Place Their Bets

In other news, Director Sue-Jean Lin sold 25,272 shares of the firm’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $30.78, for a total value of $777,872.16. Following the completion of the transaction, the director directly owned 26,735 shares in the company, valued at $822,903.30. This trade represents a 48.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Patrick Burnett sold 17,250 shares of Arcutis Biotherapeutics stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $24.18, for a total value of $417,105.00. Following the sale, the insider directly owned 98,325 shares of the company’s stock, valued at $2,377,498.50. This trade represents a 14.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 253,912 shares of company stock valued at $6,884,105. Insiders own 9.40% of the company’s stock.

Arcutis Biotherapeutics Trading Down 1.4%

NASDAQ:ARQT opened at $25.37 on Friday. The company has a market capitalization of $3.11 billion, a P/E ratio of -70.47 and a beta of 1.71. The company has a current ratio of 3.50, a quick ratio of 3.28 and a debt-to-equity ratio of 0.68. Arcutis Biotherapeutics, Inc. has a 12 month low of $11.13 and a 12 month high of $31.77. The firm has a fifty day simple moving average of $28.52 and a 200-day simple moving average of $22.16.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its earnings results on Tuesday, October 28th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.16. Arcutis Biotherapeutics had a negative return on equity of 29.69% and a negative net margin of 13.94%.The company had revenue of $99.22 million during the quarter, compared to analyst estimates of $86.69 million. On average, equities research analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current year.

About Arcutis Biotherapeutics

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.