Arcutis Biotherapeutics, Inc. $ARQT Shares Purchased by Candriam S.C.A.

Candriam S.C.A. increased its stake in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 35.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,086,651 shares of the company’s stock after buying an additional 283,513 shares during the quarter. Candriam S.C.A.’s holdings in Arcutis Biotherapeutics were worth $25,601,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in ARQT. SBI Securities Co. Ltd. boosted its position in shares of Arcutis Biotherapeutics by 325.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,089 shares of the company’s stock valued at $32,000 after acquiring an additional 833 shares during the last quarter. Global Retirement Partners LLC acquired a new position in Arcutis Biotherapeutics in the 4th quarter valued at about $35,000. EverSource Wealth Advisors LLC grew its stake in shares of Arcutis Biotherapeutics by 124.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the company’s stock valued at $37,000 after buying an additional 698 shares during the period. NewEdge Advisors LLC grew its stake in shares of Arcutis Biotherapeutics by 209.0% in the 4th quarter. NewEdge Advisors LLC now owns 1,545 shares of the company’s stock valued at $45,000 after buying an additional 1,045 shares during the period. Finally, Truvestments Capital LLC increased its holdings in shares of Arcutis Biotherapeutics by 114.2% during the 4th quarter. Truvestments Capital LLC now owns 3,012 shares of the company’s stock worth $87,000 after buying an additional 1,606 shares during the last quarter.

Insider Activity

In related news, Director Sue-Jean Lin sold 4,946 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $24.38, for a total transaction of $120,583.48. Following the completion of the transaction, the director directly owned 27,567 shares in the company, valued at $672,083.46. This trade represents a 15.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Masaru Matsuda sold 8,256 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $23.31, for a total transaction of $192,447.36. Following the sale, the insider owned 126,689 shares in the company, valued at $2,953,120.59. This trade represents a 6.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders have sold 30,931 shares of company stock worth $730,086 in the last quarter. Insiders own 9.40% of the company’s stock.

Arcutis Biotherapeutics Trading Down 3.6%

Shares of NASDAQ:ARQT traded down $1.04 during mid-day trading on Friday, reaching $27.74. 1,572,129 shares of the company were exchanged, compared to its average volume of 1,740,885. Arcutis Biotherapeutics, Inc. has a 1 year low of $13.69 and a 1 year high of $31.77. 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 firm’s 50-day simple moving average is $23.67 and its 200 day simple moving average is $24.85. The firm has a market cap of $3.47 billion, a price-to-earnings ratio of -924.36 and a beta of 1.48.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its earnings results on Wednesday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). Arcutis Biotherapeutics had a negative net margin of 0.57% and a negative return on equity of 1.41%. The firm had revenue of $105.40 million during the quarter, compared to analysts’ expectations of $103.67 million. Equities research analysts forecast that Arcutis Biotherapeutics, Inc. will post 0.15 EPS for the current year.

Wall Street Analyst Weigh In

ARQT has been the topic of several analyst reports. Wall Street Zen lowered shares of Arcutis Biotherapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a research note on Wednesday, June 24th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $36.00 price target on shares of Arcutis Biotherapeutics in a research note on Thursday, May 7th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.00.

About Arcutis Biotherapeutics

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.