Tocqueville Asset Management L.P. Sells 5,000 Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Tocqueville Asset Management L.P. lowered its stake in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 26.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,200 shares of the company’s stock after selling 5,000 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Arcutis Biotherapeutics were worth $198,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in ARQT. Victory Capital Management Inc. boosted its position in Arcutis Biotherapeutics by 9.9% during the third quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock valued at $119,000 after purchasing an additional 1,155 shares in the last quarter. Quest Partners LLC bought a new stake in Arcutis Biotherapeutics during the third quarter valued at about $398,000. Jennison Associates LLC boosted its position in Arcutis Biotherapeutics by 0.8% during the third quarter. Jennison Associates LLC now owns 11,663,497 shares of the company’s stock valued at $108,471,000 after purchasing an additional 91,803 shares in the last quarter. Intech Investment Management LLC bought a new stake in Arcutis Biotherapeutics during the third quarter valued at about $345,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Arcutis Biotherapeutics by 1.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 859,846 shares of the company’s stock worth $7,997,000 after acquiring an additional 8,522 shares in the last quarter.

Arcutis Biotherapeutics Trading Up 1.0 %

Shares of NASDAQ:ARQT opened at $16.77 on Friday. Arcutis Biotherapeutics, Inc. has a 52-week low of $6.99 and a 52-week high of $17.70. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of -9.37 and a beta of 1.48. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67. The business has a 50-day moving average price of $13.61 and a 200-day moving average price of $11.99.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.19. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. The firm had revenue of $71.36 million during the quarter, compared to analysts’ expectations of $60.52 million. Equities analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

Analysts Set New Price Targets

ARQT has been the subject of several recent analyst reports. Guggenheim reissued a “buy” rating on shares of Arcutis Biotherapeutics in a report on Monday, February 24th. Jefferies Financial Group raised their price target on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. HC Wainwright reissued a “buy” rating and issued a $19.00 price target on shares of Arcutis Biotherapeutics in a report on Wednesday, February 26th. The Goldman Sachs Group raised their price target on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, February 27th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $20.00 price target on shares of Arcutis Biotherapeutics in a report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Arcutis Biotherapeutics has an average rating of “Moderate Buy” and an average target price of $18.80.

Insider Activity at Arcutis Biotherapeutics

In related news, Director Howard G. Welgus sold 10,000 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.67, for a total transaction of $146,700.00. Following the completion of the transaction, the director now directly owns 151,944 shares in the company, valued at approximately $2,229,018.48. This trade represents a 6.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Patrick Burnett sold 2,819 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $13.03, for a total value of $36,731.57. Following the transaction, the insider now owns 167,043 shares of the company’s stock, valued at approximately $2,176,570.29. This represents a 1.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,290 shares of company stock worth $775,350. 9.50% of the stock is owned by corporate insiders.

Arcutis Biotherapeutics Company Profile

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.