Tejara Capital Ltd Sells 352,878 Shares of Arcutis Biotherapeutics, Inc. $ARQT

Tejara Capital Ltd lessened its holdings in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 40.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 520,503 shares of the company’s stock after selling 352,878 shares during the quarter. Arcutis Biotherapeutics accounts for approximately 5.1% of Tejara Capital Ltd’s investment portfolio, making the stock its 3rd biggest holding. Tejara Capital Ltd owned 0.42% of Arcutis Biotherapeutics worth $9,811,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in ARQT. AQR Capital Management LLC increased its stake in Arcutis Biotherapeutics by 21.4% in the 1st quarter. AQR Capital Management LLC now owns 248,196 shares of the company’s stock valued at $3,882,000 after buying an additional 43,716 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Arcutis Biotherapeutics by 3.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,417 shares of the company’s stock valued at $1,118,000 after acquiring an additional 2,063 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Arcutis Biotherapeutics in the second quarter valued at about $217,000. Fishman Jay A Ltd. MI increased its position in shares of Arcutis Biotherapeutics by 4.3% in the second quarter. Fishman Jay A Ltd. MI now owns 556,150 shares of the company’s stock valued at $7,797,000 after acquiring an additional 23,000 shares during the last quarter. Finally, KLP Kapitalforvaltning AS raised its holdings in Arcutis Biotherapeutics by 17.8% during the second quarter. KLP Kapitalforvaltning AS now owns 21,800 shares of the company’s stock worth $306,000 after acquiring an additional 3,300 shares in the last quarter.

Arcutis Biotherapeutics Stock Performance

Shares of NASDAQ ARQT opened at $25.37 on Friday. The company has a current ratio of 3.50, a quick ratio of 3.28 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $3.11 billion, a P/E ratio of -70.47 and a beta of 1.71. Arcutis Biotherapeutics, Inc. has a 12 month low of $11.13 and a 12 month high of $31.77. The stock has a 50 day moving average of $28.52 and a 200-day moving average of $22.21.

Insider Activity at Arcutis Biotherapeutics

In related news, Director Howard G. Welgus sold 10,000 shares of the business’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $28.96, for a total value of $289,600.00. Following the completion of the sale, the director directly owned 69,744 shares in the company, valued at $2,019,786.24. The trade was a 12.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Masaru Matsuda sold 1,657 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $30.23, for a total value of $50,091.11. Following the completion of the transaction, the insider directly owned 150,641 shares in the company, valued at approximately $4,553,877.43. This represents a 1.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 253,912 shares of company stock worth $6,884,105 in the last quarter. 9.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ARQT shares. Mizuho raised their price target on Arcutis Biotherapeutics from $32.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, November 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a research note on Monday, December 29th. Wall Street Zen cut shares of Arcutis Biotherapeutics from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 23rd. Zacks Research downgraded shares of Arcutis Biotherapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Finally, The Goldman Sachs Group upped their price target on shares of Arcutis Biotherapeutics from $19.00 to $29.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $29.20.

Arcutis Biotherapeutics Company 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.