XTX Topco Ltd Reduces Position in Arcutis Biotherapeutics, Inc. $ARQT

XTX Topco Ltd trimmed its stake in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 49.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,555 shares of the company’s stock after selling 36,121 shares during the quarter. XTX Topco Ltd’s holdings in Arcutis Biotherapeutics were worth $527,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ARQT. Paradigm Biocapital Advisors LP acquired a new position in Arcutis Biotherapeutics in the 1st quarter valued at about $22,918,000. Nuveen LLC purchased a new stake in shares of Arcutis Biotherapeutics during the first quarter worth about $12,759,000. Jupiter Asset Management Ltd. acquired a new position in shares of Arcutis Biotherapeutics in the second quarter valued at approximately $5,787,000. Woodline Partners LP purchased a new stake in Arcutis Biotherapeutics in the 1st quarter worth approximately $6,412,000. Finally, Vanguard Group Inc. raised its holdings in Arcutis Biotherapeutics by 5.9% in the 1st quarter. Vanguard Group Inc. now owns 6,818,078 shares of the company’s stock valued at $106,635,000 after acquiring an additional 377,363 shares during the last quarter.

Arcutis Biotherapeutics Stock Performance

Arcutis Biotherapeutics stock opened at $31.16 on Friday. The company has a market cap of $3.82 billion, a price-to-earnings ratio of -86.56 and a beta of 1.69. Arcutis Biotherapeutics, Inc. has a 12 month low of $11.13 and a 12 month high of $31.39. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.50 and a quick ratio of 3.28. The stock’s 50-day moving average is $23.98 and its 200-day moving average is $18.13.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its earnings results on Tuesday, October 28th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.16. Arcutis Biotherapeutics had a negative net margin of 13.94% and a negative return on equity of 29.69%. The firm had revenue of $99.22 million during the quarter, compared to the consensus estimate of $86.69 million. Equities analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Todd Watanabe sold 48,945 shares of the company’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $30.36, for a total transaction of $1,485,970.20. Following the completion of the sale, the insider directly owned 740,537 shares of the company’s stock, valued at approximately $22,482,703.32. This represents a 6.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Masaru Matsuda sold 1,657 shares of the stock in a transaction on Monday, December 1st. The shares were sold at an average price of $30.23, for a total value of $50,091.11. Following the completion of the sale, the insider owned 150,641 shares of the company’s stock, valued at approximately $4,553,877.43. This represents a 1.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 337,858 shares of company stock valued at $8,482,870. 9.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Zacks Research upgraded Arcutis Biotherapeutics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 29th. The Goldman Sachs Group increased their target price on Arcutis Biotherapeutics from $19.00 to $29.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Needham & Company LLC lifted their price target on Arcutis Biotherapeutics from $22.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, October 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a research note on Monday. Finally, HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of Arcutis Biotherapeutics in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $29.00.

About Arcutis Biotherapeutics

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.