Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Position Boosted by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 1.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 276,691 shares of the company’s stock after purchasing an additional 2,912 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Arcutis Biotherapeutics were worth $2,573,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in ARQT. SG Americas Securities LLC grew its position in Arcutis Biotherapeutics by 531.2% in the second quarter. SG Americas Securities LLC now owns 99,161 shares of the company’s stock worth $922,000 after acquiring an additional 83,452 shares in the last quarter. GSA Capital Partners LLP lifted its stake in shares of Arcutis Biotherapeutics by 730.0% in the 3rd quarter. GSA Capital Partners LLP now owns 237,174 shares of the company’s stock valued at $2,206,000 after purchasing an additional 208,599 shares during the last quarter. Wesbanco Bank Inc. bought a new stake in Arcutis Biotherapeutics in the third quarter worth $955,000. Rubric Capital Management LP increased its position in Arcutis Biotherapeutics by 11.7% during the third quarter. Rubric Capital Management LP now owns 10,966,672 shares of the company’s stock worth $101,990,000 after buying an additional 1,150,000 shares during the last quarter. Finally, AMI Asset Management Corp increased its position in Arcutis Biotherapeutics by 36.2% during the third quarter. AMI Asset Management Corp now owns 223,681 shares of the company’s stock worth $2,080,000 after buying an additional 59,487 shares during the last quarter.

Arcutis Biotherapeutics Trading Up 3.6 %

Shares of ARQT stock opened at $12.69 on Friday. The firm has a market capitalization of $1.49 billion, a P/E ratio of -7.09 and a beta of 1.32. Arcutis Biotherapeutics, Inc. has a 1 year low of $2.28 and a 1 year high of $13.50. The firm’s fifty day simple moving average is $10.30 and its 200 day simple moving average is $9.79. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.09. The company had revenue of $44.76 million for the quarter, compared to the consensus estimate of $38.05 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. As a group, sell-side analysts predict that Arcutis Biotherapeutics, Inc. will post -1.34 EPS for the current year.

Insiders Place Their Bets

In other Arcutis Biotherapeutics news, Director Terrie Curran sold 8,687 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $10.85, for a total transaction of $94,253.95. Following the completion of the transaction, the director now directly owns 10,139 shares in the company, valued at $110,008.15. This represents a 46.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 completion of the sale, the senior vice president now owns 136,635 shares in the company, valued at $1,367,716.35. This represents a 2.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,951 shares of company stock worth $770,144 over the last 90 days. Corporate insiders own 9.50% of the company’s stock.

Analyst Ratings Changes

ARQT has been the subject of several recent analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $18.00 price target on shares of Arcutis Biotherapeutics in a research note on Thursday, November 7th. Jefferies Financial Group initiated coverage on Arcutis Biotherapeutics in a research report on Wednesday, August 28th. They set a “buy” rating and a $15.00 target price for the company.

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.