GW&K Investment Management LLC Has $5.30 Million Position in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

GW&K Investment Management LLC reduced its stake in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 20.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,640,325 shares of the company’s stock after selling 428,968 shares during the period. GW&K Investment Management LLC’s holdings in Arcutis Biotherapeutics were worth $5,298,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Amalgamated Bank raised its stake in Arcutis Biotherapeutics by 48.9% during the fourth quarter. Amalgamated Bank now owns 11,078 shares of the company’s stock worth $36,000 after buying an additional 3,639 shares during the last quarter. Deutsche Bank AG grew its position in shares of Arcutis Biotherapeutics by 13.7% during the 3rd quarter. Deutsche Bank AG now owns 30,362 shares of the company’s stock worth $161,000 after buying an additional 3,655 shares during the period. Swiss National Bank increased its stake in shares of Arcutis Biotherapeutics by 9.9% in the 3rd quarter. Swiss National Bank now owns 101,200 shares of the company’s stock valued at $537,000 after acquiring an additional 9,100 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of Arcutis Biotherapeutics by 586.8% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 10,920 shares of the company’s stock valued at $35,000 after acquiring an additional 9,330 shares during the period. Finally, Fishman Jay A Ltd. MI boosted its stake in Arcutis Biotherapeutics by 13.0% during the third quarter. Fishman Jay A Ltd. MI now owns 87,000 shares of the company’s stock worth $462,000 after acquiring an additional 10,000 shares in the last quarter.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Needham & Company LLC upped their price target on Arcutis Biotherapeutics from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. The Goldman Sachs Group lifted their price objective on shares of Arcutis Biotherapeutics from $6.00 to $11.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. Finally, Mizuho upped their target price on shares of Arcutis Biotherapeutics from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Arcutis Biotherapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.00.

Arcutis Biotherapeutics Trading Up 4.6 %

Shares of ARQT stock opened at $9.92 on Thursday. The company has a current ratio of 9.89, a quick ratio of 9.61 and a debt-to-equity ratio of 0.90. The firm has a 50-day moving average of $9.55 and a 200-day moving average of $6.51. Arcutis Biotherapeutics, Inc. has a one year low of $1.76 and a one year high of $13.17.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings data on Tuesday, May 14th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.60) by $0.28. Arcutis Biotherapeutics had a negative net margin of 204.35% and a negative return on equity of 197.28%. The firm had revenue of $49.57 million during the quarter. During the same quarter last year, the business posted ($1.31) EPS. On average, equities research analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.6 earnings per share for the current fiscal year.

Insider Activity at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, SVP Larry Todd Edwards sold 7,640 shares of the business’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $8.98, for a total value of $68,607.20. Following the transaction, the senior vice president now owns 140,360 shares of the company’s stock, valued at $1,260,432.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Arcutis Biotherapeutics news, SVP Larry Todd Edwards sold 7,640 shares of Arcutis Biotherapeutics stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $8.98, for a total value of $68,607.20. Following the sale, the senior vice president now owns 140,360 shares of the company’s stock, valued at $1,260,432.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Masaru Matsuda sold 3,760 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $11.12, for a total transaction of $41,811.20. Following the transaction, the insider now directly owns 190,424 shares of the company’s stock, valued at $2,117,514.88. The disclosure for this sale can be found here. 9.50% of the stock is currently owned by company insiders.

Arcutis Biotherapeutics 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.