China Universal Asset Management Co. Ltd. Boosts Stock Holdings in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

China Universal Asset Management Co. Ltd. lifted its stake in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 65.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,482 shares of the company’s stock after buying an additional 8,881 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in Arcutis Biotherapeutics were worth $209,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Jennison Associates LLC increased its stake in Arcutis Biotherapeutics by 34.3% in the 1st quarter. Jennison Associates LLC now owns 12,176,315 shares of the company’s stock worth $120,667,000 after purchasing an additional 3,110,233 shares during the period. Rubric Capital Management LP grew its holdings in shares of Arcutis Biotherapeutics by 30.7% in the second quarter. Rubric Capital Management LP now owns 9,816,672 shares of the company’s stock worth $91,295,000 after purchasing an additional 2,306,672 shares during the last quarter. Farallon Capital Management LLC bought a new position in shares of Arcutis Biotherapeutics in the first quarter worth approximately $17,640,000. Candriam S.C.A. purchased a new position in shares of Arcutis Biotherapeutics in the second quarter worth $12,159,000. Finally, Perceptive Advisors LLC raised its holdings in Arcutis Biotherapeutics by 107.8% during the 2nd quarter. Perceptive Advisors LLC now owns 1,558,500 shares of the company’s stock valued at $14,494,000 after buying an additional 808,500 shares during the last quarter.

Insiders Place Their Bets

In other news, SVP Larry Todd Edwards sold 3,725 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $10.01, for a total transaction of $37,287.25. Following the sale, the senior vice president now owns 136,635 shares in the company, valued at approximately $1,367,716.35. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, SVP Larry Todd Edwards sold 3,725 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $10.01, for a total value of $37,287.25. Following the completion of the transaction, the senior vice president now directly owns 136,635 shares in the company, valued at $1,367,716.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Howard G. Welgus sold 10,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $9.26, for a total transaction of $92,600.00. Following the sale, the director now directly owns 181,944 shares in the company, valued at $1,684,801.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,299 shares of company stock worth $409,211. 9.50% of the stock is owned by corporate insiders.

Arcutis Biotherapeutics Trading Down 0.5 %

Shares of ARQT opened at $8.52 on Thursday. Arcutis Biotherapeutics, Inc. has a 1-year low of $1.76 and a 1-year high of $13.17. The firm has a market capitalization of $995.91 million, a price-to-earnings ratio of -3.89 and a beta of 1.17. The firm’s 50-day moving average price is $9.79 and its 200-day moving average price is $9.32. The company has a current ratio of 8.46, a quick ratio of 8.19 and a debt-to-equity ratio of 1.09.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its earnings results on Wednesday, August 14th. The company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.06. The firm had revenue of $30.86 million for the quarter, compared to the consensus estimate of $31.00 million. Arcutis Biotherapeutics had a negative return on equity of 145.41% and a negative net margin of 150.51%. During the same quarter in the prior year, the business earned ($1.16) EPS. Sell-side analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.56 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ARQT. Needham & Company LLC restated a “buy” rating and issued a $18.00 price objective on shares of Arcutis Biotherapeutics in a research report on Thursday, August 15th. Jefferies Financial Group initiated coverage on Arcutis Biotherapeutics in a report on Wednesday, August 28th. They set a “buy” rating and a $15.00 price target on the stock. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $13.33.

Arcutis Biotherapeutics Company Profile

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.