American Century Companies Inc. Acquires 166,915 Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

American Century Companies Inc. grew its stake in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 11.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,631,226 shares of the company’s stock after buying an additional 166,915 shares during the quarter. American Century Companies Inc.’s holdings in Arcutis Biotherapeutics were worth $22,723,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ARQT. Fishman Jay A Ltd. MI lifted its holdings in Arcutis Biotherapeutics by 28.3% in the 4th quarter. Fishman Jay A Ltd. MI now owns 536,400 shares of the company’s stock worth $7,472,000 after purchasing an additional 118,400 shares during the last quarter. Barclays PLC raised its position in shares of Arcutis Biotherapeutics by 45.8% in the third quarter. Barclays PLC now owns 253,392 shares of the company’s stock valued at $2,356,000 after purchasing an additional 79,579 shares during the period. State Street Corp lifted its stake in shares of Arcutis Biotherapeutics by 9.9% in the third quarter. State Street Corp now owns 5,641,631 shares of the company’s stock worth $52,467,000 after buying an additional 506,788 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Arcutis Biotherapeutics by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,470,138 shares of the company’s stock worth $22,977,000 after buying an additional 48,868 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in Arcutis Biotherapeutics in the 3rd quarter valued at $2,273,000.

Arcutis Biotherapeutics Stock Performance

ARQT opened at $15.73 on Monday. The stock’s 50 day simple moving average is $13.98 and its 200-day simple moving average is $12.26. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67. The stock has a market cap of $1.87 billion, a PE ratio of -8.79 and a beta of 1.48. Arcutis Biotherapeutics, Inc. has a 1 year low of $6.99 and a 1 year high of $17.75.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.19. The firm had revenue of $71.36 million for the quarter, compared to analyst estimates of $60.52 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. Sell-side analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

Analyst Ratings Changes

ARQT has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their price target on shares of Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Thursday, February 27th. Mizuho increased their target price on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Jefferies Financial Group lifted their price target on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. Needham & Company LLC reissued a “buy” rating and issued a $20.00 price objective on shares of Arcutis Biotherapeutics in a research report on Wednesday, February 26th. Finally, Guggenheim restated a “buy” rating on shares of Arcutis Biotherapeutics in a research note on Monday, February 24th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.80.

Insider Activity at Arcutis Biotherapeutics

In related news, insider Todd Franklin Watanabe sold 1,500 shares of the business’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $17.52, for a total value of $26,280.00. Following the sale, the insider now owns 927,414 shares of the company’s stock, valued at $16,248,293.28. The trade was a 0.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Masaru Matsuda sold 8,338 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $12.70, for a total value of $105,892.60. Following the transaction, the insider now owns 178,692 shares of the company’s stock, valued at $2,269,388.40. This represents a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 57,790 shares of company stock valued at $801,630 over the last quarter. 9.50% of the stock is owned by company insiders.

Arcutis Biotherapeutics Company Profile

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.