Jackson Creek Investment Advisors LLC Sells 64,784 Shares of Arcutis Biotherapeutics, Inc. $ARQT

Jackson Creek Investment Advisors LLC decreased its stake in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 47.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,035 shares of the company’s stock after selling 64,784 shares during the period. Arcutis Biotherapeutics comprises about 0.6% of Jackson Creek Investment Advisors LLC’s holdings, making the stock its 28th largest holding. Jackson Creek Investment Advisors LLC’s holdings in Arcutis Biotherapeutics were worth $2,063,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC lifted its stake in Arcutis Biotherapeutics by 124.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the company’s stock valued at $37,000 after purchasing an additional 698 shares during the last quarter. Global Retirement Partners LLC bought a new position in shares of Arcutis Biotherapeutics during the fourth quarter valued at $35,000. PSP Research LLC bought a new position in shares of Arcutis Biotherapeutics during the fourth quarter valued at $544,000. PNC Financial Services Group Inc. raised its stake in shares of Arcutis Biotherapeutics by 58.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,597 shares of the company’s stock valued at $395,000 after acquiring an additional 4,991 shares during the last quarter. Finally, Handelsbanken Fonder AB bought a new position in shares of Arcutis Biotherapeutics during the fourth quarter valued at $996,000.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ ARQT opened at $21.11 on Wednesday. Arcutis Biotherapeutics, Inc. has a twelve month low of $12.72 and a twelve month high of $31.77. The firm has a fifty day simple moving average of $22.64 and a 200 day simple moving average of $25.61. The company has a market capitalization of $2.64 billion, a PE ratio of -703.43 and a beta of 1.58. The company has a quick ratio of 2.46, a current ratio of 2.68 and a debt-to-equity ratio of 0.54.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its earnings results on Wednesday, May 6th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). Arcutis Biotherapeutics had a negative return on equity of 1.41% and a negative net margin of 0.57%.The firm had revenue of $105.40 million for the quarter, compared to the consensus estimate of $103.68 million. On average, sell-side analysts forecast that Arcutis Biotherapeutics, Inc. will post 0.15 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ARQT shares. TD Cowen raised their price target on shares of Arcutis Biotherapeutics from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $36.00 price target on shares of Arcutis Biotherapeutics in a research note on Thursday, May 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a research note on Friday, March 27th. Wall Street Zen downgraded shares of Arcutis Biotherapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Guggenheim raised their price target on shares of Arcutis Biotherapeutics from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $34.00.

Insiders Place Their Bets

In other Arcutis Biotherapeutics news, insider Todd Watanabe sold 3,172 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $23.61, for a total value of $74,890.92. Following the completion of the sale, the insider directly owned 720,755 shares in the company, valued at approximately $17,017,025.55. This trade represents a 0.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Howard G. Welgus sold 7,144 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $22.99, for a total transaction of $164,240.56. Following the completion of the sale, the director owned 32,600 shares of the company’s stock, valued at $749,474. The trade was a 17.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 93,488 shares of company stock valued at $2,309,329. 9.40% of the stock is currently owned by corporate insiders.

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.