Fox Run Management L.L.C. Sells 2,384 Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Fox Run Management L.L.C. lessened its position in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 12.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 16,946 shares of the company’s stock after selling 2,384 shares during the quarter. Fox Run Management L.L.C.’s holdings in Arcutis Biotherapeutics were worth $236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Point72 DIFC Ltd purchased a new stake in Arcutis Biotherapeutics during the third quarter valued at about $25,000. Venturi Wealth Management LLC bought a new stake in shares of Arcutis Biotherapeutics in the fourth quarter valued at approximately $46,000. Erste Asset Management GmbH bought a new stake in shares of Arcutis Biotherapeutics in the third quarter valued at approximately $104,000. Victory Capital Management Inc. lifted its stake in shares of Arcutis Biotherapeutics by 9.9% during the 3rd quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock valued at $119,000 after buying an additional 1,155 shares in the last quarter. Finally, Cibc World Markets Corp purchased a new stake in shares of Arcutis Biotherapeutics during the 4th quarter valued at approximately $140,000.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group boosted their target price on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, March 11th. The Goldman Sachs Group lifted their price target on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and set a $20.00 price objective on shares of Arcutis Biotherapeutics in a report on Wednesday, February 26th. Guggenheim reaffirmed a “buy” rating on shares of Arcutis Biotherapeutics in a report on Monday, February 24th. Finally, Mizuho upped their price target on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.80.

Insider Buying and Selling at Arcutis Biotherapeutics

In other news, Director Howard G. Welgus sold 10,000 shares of Arcutis Biotherapeutics stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.67, for a total transaction of $146,700.00. Following the completion of the sale, the director now directly owns 151,944 shares of the company’s stock, valued at approximately $2,229,018.48. The trade was a 6.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Masaru Matsuda sold 8,338 shares of the 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 completion of the transaction, the insider now directly owns 178,692 shares in the company, valued at approximately $2,269,388.40. This represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 57,790 shares of company stock worth $801,630 over the last three months. 9.50% of the stock is owned by insiders.

Arcutis Biotherapeutics Price Performance

NASDAQ:ARQT opened at $16.09 on Friday. Arcutis Biotherapeutics, Inc. has a 52-week low of $6.99 and a 52-week high of $17.75. The stock has a fifty day moving average of $13.92 and a 200 day moving average of $12.20. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of -8.99 and a beta of 1.48.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.19. The firm had revenue of $71.36 million during 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%. On average, research analysts expect that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current fiscal year.

About Arcutis Biotherapeutics

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.