Virtus ETF Advisers LLC Sells 4,064 Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Virtus ETF Advisers LLC reduced its stake in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 41.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 5,803 shares of the company’s stock after selling 4,064 shares during the quarter. Virtus ETF Advisers LLC’s holdings in Arcutis Biotherapeutics were worth $81,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of ARQT. Venturi Wealth Management LLC bought a new stake in Arcutis Biotherapeutics during the fourth quarter worth approximately $46,000. Cibc World Markets Corp bought a new stake in shares of Arcutis Biotherapeutics in the 4th quarter valued at approximately $140,000. Summit Investment Advisors Inc. lifted its stake in shares of Arcutis Biotherapeutics by 8.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 11,245 shares of the company’s stock valued at $157,000 after purchasing an additional 837 shares during the last quarter. LVW Advisors LLC bought a new stake in shares of Arcutis Biotherapeutics in the 4th quarter valued at approximately $166,000. Finally, Syon Capital LLC bought a new stake in shares of Arcutis Biotherapeutics in the 4th quarter valued at approximately $189,000.

Insiders Place Their Bets

In other Arcutis Biotherapeutics news, Director Howard G. Welgus sold 10,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $12.71, for a total transaction of $127,100.00. Following the transaction, the director now directly owns 141,944 shares in the company, valued at $1,804,108.24. This trade represents a 6.58 % 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 8,338 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $12.70, for a total value of $105,892.60. Following the transaction, the insider now owns 178,692 shares in the company, valued at $2,269,388.40. The trade was a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,099 shares of company stock worth $631,256 in the last ninety days. 9.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on ARQT. Guggenheim reaffirmed a “buy” rating on shares of Arcutis Biotherapeutics in a research note on Thursday, April 3rd. HC Wainwright reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Arcutis Biotherapeutics in a research note on Thursday, April 3rd. Jefferies Financial Group raised their price objective on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. The Goldman Sachs Group raised their price objective on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, February 27th. Finally, Mizuho increased their price target on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. One 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 stock currently has an average rating of “Moderate Buy” and an average target price of $18.80.

Arcutis Biotherapeutics Trading Down 0.5 %

Shares of NASDAQ ARQT opened at $14.53 on Tuesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46. The business’s 50 day moving average price is $14.51 and its 200-day moving average price is $12.93. Arcutis Biotherapeutics, Inc. has a fifty-two week low of $6.99 and a fifty-two week high of $17.75. The company has a market cap of $1.72 billion, a price-to-earnings ratio of -8.12 and a beta of 1.67.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share 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 for the quarter, compared to the consensus estimate of $60.52 million. On average, sell-side analysts expect 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.