Tejara Capital Ltd Sells 278,471 Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Tejara Capital Ltd cut its position in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 23.9% during the 4th quarter, HoldingsChannel reports. The firm owned 886,838 shares of the company’s stock after selling 278,471 shares during the quarter. Arcutis Biotherapeutics comprises about 7.9% of Tejara Capital Ltd’s portfolio, making the stock its largest holding. Tejara Capital Ltd’s holdings in Arcutis Biotherapeutics were worth $12,354,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Suvretta Capital Management LLC increased its position in shares of Arcutis Biotherapeutics by 7.2% during the third quarter. Suvretta Capital Management LLC now owns 10,721,511 shares of the company’s stock worth $99,710,000 after acquiring an additional 717,019 shares in the last quarter. Fishman Jay A Ltd. MI increased its position in shares of Arcutis Biotherapeutics by 28.3% during the fourth quarter. Fishman Jay A Ltd. MI now owns 536,400 shares of the company’s stock worth $7,472,000 after acquiring an additional 118,400 shares in the last quarter. Rubric Capital Management LP increased its position in shares of 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 acquiring an additional 1,150,000 shares in the last quarter. Algert Global LLC increased its position in shares of Arcutis Biotherapeutics by 595.9% during the third quarter. Algert Global LLC now owns 72,480 shares of the company’s stock worth $674,000 after acquiring an additional 62,065 shares in the last quarter. Finally, Barclays PLC increased its position in shares of Arcutis Biotherapeutics by 45.8% during the third quarter. Barclays PLC now owns 253,392 shares of the company’s stock worth $2,356,000 after acquiring an additional 79,579 shares in the last quarter.

Arcutis Biotherapeutics Stock Up 12.3 %

Arcutis Biotherapeutics stock opened at $16.42 on Tuesday. The company has a market cap of $1.95 billion, a P/E ratio of -9.17 and a beta of 1.48. Arcutis Biotherapeutics, Inc. has a 1-year low of $6.99 and a 1-year high of $17.70. The company has a fifty day simple moving average of $13.55 and a 200 day simple moving average of $11.89. 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 announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.19. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. The company had revenue of $71.36 million during the quarter, compared to the consensus estimate of $60.52 million. Research analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

ARQT has been the subject of several research reports. Guggenheim reissued a “buy” rating on shares of Arcutis Biotherapeutics in a research report on Monday, February 24th. HC Wainwright reissued a “buy” rating and set a $19.00 price objective on shares of Arcutis Biotherapeutics in a research report on Wednesday, February 26th. Jefferies Financial Group increased their price objective on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. Mizuho raised their target price on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Finally, The Goldman Sachs Group raised their target price on shares of Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.80.

Insider Activity

In other news, Director Howard G. Welgus sold 10,000 shares of Arcutis Biotherapeutics stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.67, for a total value of $146,700.00. Following the completion of the transaction, the director now owns 151,944 shares of the company’s stock, valued at $2,229,018.48. This trade represents a 6.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Patrick Burnett sold 12,242 shares of Arcutis Biotherapeutics stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $15.04, for a total transaction of $184,119.68. Following the completion of the transaction, the insider now directly owns 121,936 shares of the company’s stock, valued at approximately $1,833,917.44. This trade represents a 9.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 70,090 shares of company stock valued at $981,768 in the last quarter. Company insiders own 9.50% of the company’s stock.

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.