Polar Capital Holdings Plc Boosts Holdings in Arcutis Biotherapeutics, Inc. $ARQT

Polar Capital Holdings Plc raised its stake in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 4.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,556,169 shares of the company’s stock after acquiring an additional 257,415 shares during the period. Polar Capital Holdings Plc’s holdings in Arcutis Biotherapeutics were worth $161,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in ARQT. SBI Securities Co. Ltd. boosted its position in shares of Arcutis Biotherapeutics by 325.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,089 shares of the company’s stock valued at $32,000 after purchasing an additional 833 shares during the period. Global Retirement Partners LLC acquired a new position in Arcutis Biotherapeutics during the fourth quarter worth approximately $35,000. EverSource Wealth Advisors LLC lifted its stake in Arcutis Biotherapeutics by 124.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the company’s stock valued at $37,000 after buying an additional 698 shares during the last quarter. Truvestments Capital LLC lifted its stake in Arcutis Biotherapeutics by 114.2% in the fourth quarter. Truvestments Capital LLC now owns 3,012 shares of the company’s stock valued at $87,000 after buying an additional 1,606 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Arcutis Biotherapeutics by 1,291.1% in the third quarter. Jones Financial Companies Lllp now owns 7,067 shares of the company’s stock valued at $124,000 after acquiring an additional 6,559 shares during the period.

Arcutis Biotherapeutics Trading Up 0.4%

Shares of Arcutis Biotherapeutics stock opened at $25.67 on Wednesday. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of -855.38 and a beta of 1.51. Arcutis Biotherapeutics, Inc. has a 52-week low of $12.97 and a 52-week high of $31.77. The company’s 50-day simple moving average is $22.63 and its 200-day simple moving average is $25.18. 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 quarterly earnings data on Wednesday, May 6th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). Arcutis Biotherapeutics had a negative net margin of 0.57% and a negative return on equity of 1.41%. The firm had revenue of $105.40 million during the quarter, compared to analyst estimates of $103.68 million. As a group, equities research analysts anticipate that Arcutis Biotherapeutics, Inc. will post 0.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ARQT. Mizuho lowered their target price on shares of Arcutis Biotherapeutics from $37.00 to $35.00 and set an “outperform” rating on the stock in a research report on Monday, March 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $36.00 price target on shares of Arcutis Biotherapeutics in a research report on Thursday, May 7th. Wall Street Zen cut shares of Arcutis Biotherapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Guggenheim raised their price objective on shares of Arcutis Biotherapeutics from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a report on Friday, March 27th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Arcutis Biotherapeutics presently has an average rating of “Moderate Buy” and an average target price of $34.00.

Insiders Place Their Bets

In related news, insider Todd Watanabe sold 3,172 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $23.61, for a total transaction of $74,890.92. Following the transaction, the insider owned 720,755 shares of the company’s stock, valued at $17,017,025.55. This represents a 0.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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, CFO Latha Vairavan sold 1,341 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $23.61, for a total value of $31,661.01. Following the completion of the transaction, the chief financial officer owned 86,413 shares of the company’s stock, valued at $2,040,210.93. The trade was a 1.53% decrease in their position. The SEC filing for this sale provides additional information. 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. In the last quarter, insiders sold 31,254 shares of company stock valued at $732,019. Corporate insiders own 9.40% of the company’s stock.

Arcutis Biotherapeutics Profile

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.