Franklin Resources Inc. Sells 941,099 Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Franklin Resources Inc. trimmed its holdings in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 22.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,309,319 shares of the company’s stock after selling 941,099 shares during the period. Franklin Resources Inc. owned 2.83% of Arcutis Biotherapeutics worth $46,099,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in ARQT. Point72 DIFC Ltd bought a new stake in shares of Arcutis Biotherapeutics during the 3rd quarter valued at $25,000. Venturi Wealth Management LLC acquired a new position in Arcutis Biotherapeutics in the fourth quarter valued at about $46,000. Cibc World Markets Corp acquired a new stake in Arcutis Biotherapeutics during the fourth quarter worth about $140,000. LVW Advisors LLC acquired a new stake in Arcutis Biotherapeutics during the fourth quarter worth about $166,000. Finally, Aigen Investment Management LP bought a new position in Arcutis Biotherapeutics in the 4th quarter valued at about $191,000.

Insider Buying and Selling

In other news, insider Masaru Matsuda sold 8,338 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $12.70, for a total value of $105,892.60. Following the sale, the insider now directly owns 178,692 shares of the company’s stock, valued at approximately $2,269,388.40. This represents a 4.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Todd Franklin Watanabe sold 1,500 shares of Arcutis Biotherapeutics stock in a transaction on Monday, March 24th. The stock was sold at an average price of $17.52, for a total transaction of $26,280.00. Following the transaction, the insider now directly owns 927,414 shares of the company’s stock, valued at $16,248,293.28. This represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,099 shares of company stock valued at $631,256 over the last ninety days. 9.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ARQT shares. Guggenheim reissued a “buy” rating on shares of Arcutis Biotherapeutics in a research note on Thursday. Mizuho lifted their price target on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. HC Wainwright reissued a “buy” rating and issued a $19.00 price objective on shares of Arcutis Biotherapeutics in a research note on Thursday. Jefferies Financial Group upped their price target on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. Finally, Needham & Company LLC reissued a “buy” rating and set a $20.00 price objective on shares of Arcutis Biotherapeutics in a report on Thursday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $18.80.

Arcutis Biotherapeutics Price Performance

ARQT stock opened at $14.73 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46. Arcutis Biotherapeutics, Inc. has a 52-week low of $6.99 and a 52-week high of $17.75. The company has a market capitalization of $1.75 billion, a P/E ratio of -8.23 and a beta of 1.67. The company has a fifty day moving average price of $14.20 and a 200-day moving average price of $12.41.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its earnings results on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.19. The firm had revenue of $71.36 million for the quarter, compared to the consensus estimate of $60.52 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. As a group, equities analysts expect that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

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.