Jupiter Topco LLC Acquires Shares of 1,410,435 Arcutis Biotherapeutics, Inc. $ARQT

Jupiter Topco LLC acquired a new position in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,410,435 shares of the company’s stock, valued at approximately $36,989,000. Jupiter Topco LLC owned approximately 1.12% of Arcutis Biotherapeutics at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. SBI Securities Co. Ltd. lifted its position in shares of Arcutis Biotherapeutics by 325.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,089 shares of the company’s stock worth $32,000 after purchasing an additional 833 shares during the last quarter. Global Retirement Partners LLC acquired a new position in Arcutis Biotherapeutics in the fourth quarter worth about $35,000. EverSource Wealth Advisors LLC increased its holdings in Arcutis Biotherapeutics by 124.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the company’s stock valued at $37,000 after buying an additional 698 shares during the last quarter. NewEdge Advisors LLC increased its holdings in Arcutis Biotherapeutics by 209.0% in the fourth quarter. NewEdge Advisors LLC now owns 1,545 shares of the company’s stock valued at $45,000 after buying an additional 1,045 shares during the last quarter. Finally, Truvestments Capital LLC raised its stake in Arcutis Biotherapeutics by 114.2% during the fourth quarter. Truvestments Capital LLC now owns 3,012 shares of the company’s stock valued at $87,000 after buying an additional 1,606 shares in the last quarter.

Insider Transactions at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, Director Terrie Curran sold 38,200 shares of the firm’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $25.03, for a total value of $956,146.00. Following the sale, the director directly owned 23,526 shares in the company, valued at approximately $588,855.78. This trade represents a 61.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Masaru Matsuda sold 1,230 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $26.12, for a total transaction of $32,127.60. Following the transaction, the insider directly owned 126,171 shares of the company’s stock, valued at approximately $3,295,586.52. This trade represents a 0.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders sold 75,239 shares of company stock valued at $1,910,959 over the last three months. 9.40% of the stock is currently owned by company insiders.

Arcutis Biotherapeutics Stock Performance

Shares of ARQT stock opened at $23.78 on Friday. The company has a quick ratio of 2.67, a current ratio of 2.92 and a debt-to-equity ratio of 0.46. The business has a 50 day moving average of $26.64 and a two-hundred day moving average of $24.63. Arcutis Biotherapeutics, Inc. has a 52 week low of $15.10 and a 52 week high of $31.77. The company has a market cap of $2.99 billion, a P/E ratio of 113.24 and a beta of 1.49.

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on ARQT shares. Needham & Company LLC increased their target price on Arcutis Biotherapeutics from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Morgan Stanley boosted their price target on Arcutis Biotherapeutics from $34.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Guggenheim raised their price objective on Arcutis Biotherapeutics from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Wall Street Zen upgraded Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings raised shares of Arcutis Biotherapeutics from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 20th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.