Fox Run Management L.L.C. Raises Holdings in Arcutis Biotherapeutics, Inc. $ARQT

by · The Markets Daily

Fox Run Management L.L.C. lifted its stake in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT – Free Report) by 76.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 29,967 shares of the company’s stock after purchasing an additional 13,021 shares during the quarter. Fox Run Management L.L.C.’s holdings in Arcutis Biotherapeutics were worth $469,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GF Fund Management CO. LTD. bought a new stake in shares of Arcutis Biotherapeutics during the 4th quarter valued at $34,000. Amalgamated Bank raised its stake in shares of Arcutis Biotherapeutics by 39.4% during the 1st quarter. Amalgamated Bank now owns 3,723 shares of the company’s stock valued at $58,000 after purchasing an additional 1,053 shares during the period. KBC Group NV bought a new stake in shares of Arcutis Biotherapeutics during the 1st quarter valued at $84,000. Nkcfo LLC bought a new stake in shares of Arcutis Biotherapeutics during the 1st quarter valued at $109,000. Finally, Baader Bank Aktiengesellschaft bought a new stake in shares of Arcutis Biotherapeutics during the 1st quarter valued at $156,000.

Insider Transactions at Arcutis Biotherapeutics

In other news, Director Howard G. Welgus sold 10,139 shares of the company’s stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $13.37, for a total value of $135,558.43. Following the completion of the transaction, the director directly owned 109,414 shares in the company, valued at approximately $1,462,865.18. This represents a 8.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Masaru Matsuda sold 6,330 shares of the company’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $14.33, for a total value of $90,708.90. Following the completion of the transaction, the insider owned 197,364 shares of the company’s stock, valued at $2,828,226.12. The trade was a 3.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders bought 7,434 shares of company stock worth $99,277 and sold 75,124 shares worth $1,085,164. 9.40% of the stock is owned by company insiders.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ ARQT opened at $16.74 on Tuesday. The firm has a market capitalization of $2.01 billion, a P/E ratio of -22.32 and a beta of 1.84. The company has a quick ratio of 3.04, a current ratio of 3.20 and a debt-to-equity ratio of 0.77. The stock’s 50-day simple moving average is $14.53 and its two-hundred day simple moving average is $14.23. Arcutis Biotherapeutics, Inc. has a twelve month low of $8.03 and a twelve month high of $17.75.

Arcutis Biotherapeutics (NASDAQ:ARQT – Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.05. Arcutis Biotherapeutics had a negative return on equity of 62.62% and a negative net margin of 35.40%. The business had revenue of $81.50 million for the quarter, compared to analyst estimates of $72.70 million. As a group, equities analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ARQT. Needham & Company LLC boosted their price objective on Arcutis Biotherapeutics from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Wall Street Zen upgraded Arcutis Biotherapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Cowen restated a “buy” rating on shares of Arcutis Biotherapeutics in a research note on Thursday, August 7th. Finally, The Goldman Sachs Group started coverage on Arcutis Biotherapeutics in a research note on Friday, July 25th. They issued a “neutral” rating and a $18.00 target price on the stock. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Arcutis Biotherapeutics presently has an average rating of “Moderate Buy” and an average price target of $19.80.

Check Out Our Latest Stock Report on Arcutis Biotherapeutics

Arcutis Biotherapeutics Profile

(Free Report)

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.

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