Privium Fund Management B.V. Buys New Position in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Privium Fund Management B.V. purchased a new position in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 325,709 shares of the company’s stock, valued at approximately $4,537,000. Arcutis Biotherapeutics makes up approximately 1.0% of Privium Fund Management B.V.’s portfolio, making the stock its 21st biggest position. Privium Fund Management B.V. owned 0.28% of Arcutis Biotherapeutics at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Victory Capital Management Inc. boosted its stake in Arcutis Biotherapeutics by 9.9% in the 3rd quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock worth $119,000 after purchasing an additional 1,155 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of Arcutis Biotherapeutics during the third quarter worth $398,000. Jennison Associates LLC lifted its stake in shares of Arcutis Biotherapeutics by 0.8% during the third quarter. Jennison Associates LLC now owns 11,663,497 shares of the company’s stock worth $108,471,000 after buying an additional 91,803 shares during the period. Intech Investment Management LLC purchased a new stake in shares of Arcutis Biotherapeutics during the third quarter valued at $345,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Arcutis Biotherapeutics by 1.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 859,846 shares of the company’s stock valued at $7,997,000 after acquiring an additional 8,522 shares during the period.

Analyst Upgrades and Downgrades

ARQT has been the subject of a number of research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price target on shares of Arcutis Biotherapeutics in a research report on Wednesday, February 26th. The Goldman Sachs Group upped their target price on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Thursday, February 27th. HC Wainwright reiterated a “buy” rating and issued a $19.00 price target on shares of Arcutis Biotherapeutics in a report on Wednesday, February 26th. Jefferies Financial Group lifted their price objective on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. Finally, Mizuho increased their price objective on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.80.

Arcutis Biotherapeutics Trading Down 3.3 %

Shares of NASDAQ:ARQT opened at $15.87 on Wednesday. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67. Arcutis Biotherapeutics, Inc. has a 12-month low of $6.99 and a 12-month high of $17.70. The business has a 50 day moving average of $13.55 and a two-hundred day moving average of $11.92. The company has a market capitalization of $1.88 billion, a PE ratio of -8.87 and a beta of 1.48.

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

Insider Transactions at Arcutis Biotherapeutics

In other news, Director Howard G. Welgus sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.67, for a total value of $146,700.00. Following the completion of the sale, the director now directly owns 151,944 shares in the company, valued at $2,229,018.48. The trade was a 6.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Patrick Burnett sold 12,242 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $15.04, for a total value of $184,119.68. Following the transaction, the insider now owns 121,936 shares in the company, valued at $1,833,917.44. This trade represents a 9.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 70,090 shares of company stock valued at $981,768 in the last ninety days. 9.50% of the stock is currently owned by corporate insiders.

Arcutis Biotherapeutics 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.