Tejara Capital Ltd Buys Shares of 113,084 Arcutis Biotherapeutics, Inc. $ARQT

Tejara Capital Ltd acquired a new position in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 113,084 shares of the company’s stock, valued at approximately $2,965,000. Arcutis Biotherapeutics comprises about 1.2% of Tejara Capital Ltd’s holdings, making the stock its 24th biggest holding. Tejara Capital Ltd owned 0.09% of Arcutis Biotherapeutics at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ARQT. Focus Partners Wealth raised its holdings in Arcutis Biotherapeutics by 0.8% in the 3rd quarter. Focus Partners Wealth now owns 65,196 shares of the company’s stock worth $1,237,000 after purchasing an additional 490 shares during the period. Schroder Investment Management Group increased its holdings in Arcutis Biotherapeutics by 1.1% in the 4th quarter. Schroder Investment Management Group now owns 57,136 shares of the company’s stock worth $1,604,000 after acquiring an additional 594 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Arcutis Biotherapeutics by 124.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the company’s stock worth $37,000 after acquiring an additional 698 shares during the period. Entropy Technologies LP raised its position in shares of Arcutis Biotherapeutics by 7.0% during the 4th quarter. Entropy Technologies LP now owns 12,144 shares of the company’s stock valued at $353,000 after purchasing an additional 792 shares during the period. Finally, DNB Asset Management AS boosted its holdings in Arcutis Biotherapeutics by 3.0% in the 4th quarter. DNB Asset Management AS now owns 27,786 shares of the company’s stock worth $807,000 after buying an additional 802 shares during the period.

Arcutis Biotherapeutics Stock Performance

NASDAQ:ARQT opened at $25.35 on Friday. The company has a market cap of $3.19 billion, a price-to-earnings ratio of 120.72 and a beta of 1.49. Arcutis Biotherapeutics, Inc. has a 1 year low of $15.10 and a 1 year high of $31.77. The stock’s 50 day simple moving average is $26.76 and its two-hundred day simple moving average is $24.68. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.92 and a quick ratio of 2.67.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its earnings results on Wednesday, August 5th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. Arcutis Biotherapeutics had a return on equity of 15.05% and a net margin of 6.15%.The firm had revenue of $129.86 million during the quarter, compared to the consensus estimate of $118.85 million. As a group, equities analysts anticipate that Arcutis Biotherapeutics, Inc. will post 0.4 earnings per share for the current fiscal year.

Insider Activity at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, insider Todd Watanabe sold 4,375 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $26.12, for a total transaction of $114,275.00. Following the completion of the transaction, the insider owned 717,203 shares in the company, valued at $18,733,342.36. This trade represents a 0.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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. Also, insider Patrick Burnett sold 6,700 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $26.08, for a total transaction of $174,736.00. Following the sale, the insider owned 119,289 shares in the company, valued at $3,111,057.12. This represents a 5.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 35,967 shares of company stock valued at $926,898 over the last quarter. 9.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ARQT has been the topic of a number of recent analyst reports. Guggenheim raised their price target on Arcutis Biotherapeutics from $35.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Morgan Stanley lifted their target price on Arcutis Biotherapeutics from $34.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Wall Street Zen upgraded shares of Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Needham & Company LLC boosted their target price on shares of Arcutis Biotherapeutics from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Weiss Ratings upgraded shares of Arcutis Biotherapeutics from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Thursday, August 6th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $35.57.

Arcutis Biotherapeutics Profile

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.