J. Goldman & Co LP Sells 879,573 Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

J. Goldman & Co LP cut its position in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 58.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 612,644 shares of the company’s stock after selling 879,573 shares during the period. J. Goldman & Co LP’s holdings in Arcutis Biotherapeutics were worth $8,534,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Barclays PLC boosted its holdings in shares of Arcutis Biotherapeutics by 45.8% in the 3rd quarter. Barclays PLC now owns 253,392 shares of the company’s stock worth $2,356,000 after acquiring an additional 79,579 shares in the last quarter. JPMorgan Chase & Co. raised its position in Arcutis Biotherapeutics by 0.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,296,911 shares of the company’s stock valued at $12,061,000 after purchasing an additional 11,833 shares during the last quarter. LVW Advisors LLC acquired a new position in Arcutis Biotherapeutics in the fourth quarter worth $166,000. SG Americas Securities LLC grew its holdings in shares of Arcutis Biotherapeutics by 25.4% during the fourth quarter. SG Americas Securities LLC now owns 48,087 shares of the company’s stock worth $670,000 after purchasing an additional 9,754 shares during the last quarter. Finally, Zweig DiMenna Associates LLC acquired a new stake in shares of Arcutis Biotherapeutics in the fourth quarter valued at $578,000.

Analysts Set New Price Targets

Several research analysts recently issued reports on ARQT shares. HC Wainwright reiterated a “buy” rating and set a $19.00 price target on shares of Arcutis Biotherapeutics in a research report on Thursday, April 3rd. Needham & Company LLC reiterated a “buy” rating and set a $20.00 target price on shares of Arcutis Biotherapeutics in a research report on Wednesday, April 9th. Jefferies Financial Group raised their price target 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. Guggenheim reaffirmed a “buy” rating on shares of Arcutis Biotherapeutics in a report on Thursday, April 3rd. Finally, Mizuho lifted their target price on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.80.

Insider Activity at Arcutis Biotherapeutics

In other news, insider Patrick Burnett sold 12,242 shares of the company’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $15.04, for a total value of $184,119.68. Following the completion of the sale, the insider now directly owns 121,936 shares of the company’s stock, valued at $1,833,917.44. This represents a 9.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Todd Franklin Watanabe sold 1,500 shares of Arcutis Biotherapeutics stock in a transaction that occurred 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 in the company, valued at $16,248,293.28. The trade was a 0.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,662 shares of company stock worth $527,326. 9.50% of the stock is owned by insiders.

Arcutis Biotherapeutics Stock Up 0.1 %

Shares of NASDAQ:ARQT opened at $13.53 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of -7.56 and a beta of 1.87. The company has a 50 day moving average of $14.78 and a 200-day moving average of $13.24. Arcutis Biotherapeutics, Inc. has a one year low of $6.99 and a one year high of $17.75.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its earnings results on Tuesday, May 6th. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.01. The firm had revenue of $65.85 million during the quarter, compared to analyst estimates of $64.80 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. On average, sell-side analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current 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.