Nordea Investment Management AB Acquires New Holdings in Arcutis Biotherapeutics, Inc. $ARQT

Nordea Investment Management AB bought a new position in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 201,638 shares of the company’s stock, valued at approximately $5,850,000. Nordea Investment Management AB owned 0.16% of Arcutis Biotherapeutics as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Johnson Investment Counsel Inc. bought a new stake in shares of Arcutis Biotherapeutics during the third quarter worth $30,000. PNC Financial Services Group Inc. lifted its position in Arcutis Biotherapeutics by 10.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,828 shares of the company’s stock valued at $124,000 after acquiring an additional 820 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in Arcutis Biotherapeutics by 1,291.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 7,067 shares of the company’s stock worth $124,000 after purchasing an additional 6,559 shares during the period. Quantbot Technologies LP acquired a new position in Arcutis Biotherapeutics in the 2nd quarter worth $145,000. Finally, Russell Investments Group Ltd. increased its holdings in Arcutis Biotherapeutics by 4,562.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 11,190 shares of the company’s stock worth $157,000 after purchasing an additional 10,950 shares in the last quarter.

Wall Street Analyst Weigh In

Several research firms have issued reports on ARQT. Zacks Research downgraded Arcutis Biotherapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. TD Cowen increased their price objective on Arcutis Biotherapeutics from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. HC Wainwright lifted their target price on Arcutis Biotherapeutics from $30.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Mizuho cut their target price on Arcutis Biotherapeutics from $37.00 to $35.00 and set an “outperform” rating on the stock in a research note on Monday, March 2nd. Finally, Needham & Company LLC upped their price target on Arcutis Biotherapeutics from $31.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Arcutis Biotherapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $34.00.

Arcutis Biotherapeutics Trading Down 1.6%

Shares of NASDAQ:ARQT opened at $22.38 on Friday. The company’s 50-day moving average price is $25.21 and its two-hundred day moving average price is $24.77. Arcutis Biotherapeutics, Inc. has a one year low of $11.86 and a one year high of $31.77. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.17 and a quick ratio of 2.99. The stock has a market capitalization of $2.78 billion, a PE ratio of -159.85 and a beta of 1.66.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.10. The company had revenue of $129.50 million during the quarter, compared to analysts’ expectations of $110.79 million. Arcutis Biotherapeutics had a negative return on equity of 10.26% and a negative net margin of 4.29%. On average, equities analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current fiscal year.

Insider Activity

In other news, insider Masaru Matsuda sold 40,638 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $25.28, for a total transaction of $1,027,328.64. Following the sale, the insider owned 110,003 shares in the company, valued at $2,780,875.84. This represents a 26.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Howard G. Welgus sold 10,000 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $25.05, for a total value of $250,500.00. Following the completion of the sale, the director directly owned 59,744 shares of the company’s stock, valued at approximately $1,496,587.20. The trade was a 14.34% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 163,733 shares of company stock valued at $4,204,675. Corporate insiders own 9.40% of the company’s stock.

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.