Arcutis Biotherapeutics, Inc. $ARQT Stock Position Increased by BNP Paribas Financial Markets

BNP Paribas Financial Markets boosted its position in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 1,416.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 699,803 shares of the company’s stock after purchasing an additional 653,657 shares during the quarter. BNP Paribas Financial Markets owned about 0.57% of Arcutis Biotherapeutics worth $20,322,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Arcutis Biotherapeutics by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 7,253,936 shares of the company’s stock valued at $210,654,000 after purchasing an additional 107,846 shares during the last quarter. Polar Capital Holdings Plc lifted its position in Arcutis Biotherapeutics by 5.8% in the 3rd quarter. Polar Capital Holdings Plc now owns 5,298,754 shares of the company’s stock valued at $99,882,000 after purchasing an additional 292,279 shares during the last quarter. State Street Corp lifted its position in Arcutis Biotherapeutics by 1.2% in the 2nd quarter. State Street Corp now owns 4,526,937 shares of the company’s stock valued at $63,468,000 after purchasing an additional 52,734 shares during the last quarter. UBS Group AG lifted its position in Arcutis Biotherapeutics by 10.0% in the 4th quarter. UBS Group AG now owns 3,243,432 shares of the company’s stock valued at $94,189,000 after purchasing an additional 294,994 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Arcutis Biotherapeutics by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 2,753,307 shares of the company’s stock valued at $79,967,000 after purchasing an additional 146,842 shares during the last quarter.

Arcutis Biotherapeutics Stock Down 3.3%

NASDAQ ARQT opened at $21.23 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.68 and a quick ratio of 2.46. The company’s 50 day simple moving average is $22.47 and its 200 day simple moving average is $25.45. Arcutis Biotherapeutics, Inc. has a 12 month low of $12.72 and a 12 month high of $31.77. The company has a market capitalization of $2.66 billion, a P/E ratio of -707.43 and a beta of 1.51.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its earnings results 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 return on equity of 1.41% and a negative net margin of 0.57%.The business had revenue of $105.40 million during the quarter, compared to the consensus estimate of $103.68 million. Equities research analysts expect that Arcutis Biotherapeutics, Inc. will post 0.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ARQT has been the topic of several recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a research report on Friday, March 27th. Needham & Company LLC restated a “buy” rating and set a $36.00 price target on shares of Arcutis Biotherapeutics in a research report on Thursday, May 7th. Guggenheim boosted their price target 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. TD Cowen boosted their price target on shares of Arcutis Biotherapeutics from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Finally, HC Wainwright boosted their price target on shares of Arcutis Biotherapeutics from $30.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Five 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.00.

Insider Buying and Selling at Arcutis Biotherapeutics

In related news, insider Todd Watanabe sold 3,172 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $23.61, for a total transaction of $74,890.92. Following the transaction, the insider directly owned 720,755 shares of the company’s stock, valued at approximately $17,017,025.55. The trade was a 0.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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, Director Howard G. Welgus sold 7,144 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $22.99, for a total transaction of $164,240.56. Following the transaction, the director directly owned 32,600 shares in the company, valued at $749,474. The trade was a 17.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 31,254 shares of company stock valued at $732,019 over the last quarter. Company 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.