Montanova Capital LLC Buys 110,000 Shares of Arcutis Biotherapeutics, Inc. $ARQT

Montanova Capital LLC increased its stake in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 0.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 12,437,000 shares of the company’s stock after acquiring an additional 110,000 shares during the period. Arcutis Biotherapeutics comprises 5.4% of Montanova Capital LLC’s holdings, making the stock its 3rd largest position. Montanova Capital LLC owned approximately 0.10% of Arcutis Biotherapeutics worth $326,098,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ARQT. Focus Partners Wealth lifted its stake in Arcutis Biotherapeutics by 0.8% in the third quarter. Focus Partners Wealth now owns 65,196 shares of the company’s stock valued at $1,237,000 after buying an additional 490 shares during the last quarter. Schroder Investment Management Group grew its position in shares of Arcutis Biotherapeutics by 1.1% during the fourth 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 during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Arcutis Biotherapeutics by 124.0% in 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 increased its holdings in shares of Arcutis Biotherapeutics by 7.0% in the 4th quarter. Entropy Technologies LP now owns 12,144 shares of the company’s stock worth $353,000 after acquiring an additional 792 shares during the period. Finally, DNB Asset Management AS lifted its position in Arcutis Biotherapeutics by 3.0% in the 4th quarter. DNB Asset Management AS now owns 27,786 shares of the company’s stock valued at $807,000 after purchasing an additional 802 shares during the last quarter.

Insider Activity

In other Arcutis Biotherapeutics news, Director Terrie Curran sold 38,200 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director directly owned 23,526 shares in the company, valued at $588,855.78. This represents a 61.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 value of $114,275.00. Following the transaction, the insider directly owned 717,203 shares of the company’s stock, valued at approximately $18,733,342.36. The trade was a 0.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 have sold 75,239 shares of company stock valued at $1,910,959 over the last 90 days. Corporate insiders own 9.40% of the company’s stock.

Wall Street Analyst Weigh In

ARQT has been the subject of a number of analyst reports. Guggenheim boosted their target price on shares of Arcutis Biotherapeutics from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Needham & Company LLC raised their price target on shares of Arcutis Biotherapeutics from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Weiss Ratings upgraded Arcutis Biotherapeutics from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 20th. Morgan Stanley increased their price objective on Arcutis Biotherapeutics from $34.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Finally, Wall Street Zen upgraded Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $35.57.

Arcutis Biotherapeutics Stock Up 0.8%

Arcutis Biotherapeutics stock opened at $23.97 on Tuesday. Arcutis Biotherapeutics, Inc. has a 52 week low of $15.10 and a 52 week high of $31.77. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 114.15 and a beta of 1.49. The company’s 50-day moving average price is $26.59 and its two-hundred day moving average price is $24.60. The company has a current ratio of 2.92, a quick ratio of 2.67 and a debt-to-equity ratio of 0.46.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued 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 company had revenue of $129.86 million during the quarter, compared to analyst estimates of $118.85 million. Arcutis Biotherapeutics had a net margin of 6.15% and a return on equity of 15.05%. On average, analysts expect that Arcutis Biotherapeutics, Inc. will post 0.4 EPS for the current fiscal year.

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.