Privium Fund Management B.V. Cuts Holdings in Arcutis Biotherapeutics, Inc. $ARQT

Privium Fund Management B.V. lowered its position in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 11.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 305,972 shares of the company’s stock after selling 38,500 shares during the period. Arcutis Biotherapeutics comprises approximately 1.0% of Privium Fund Management B.V.’s investment portfolio, making the stock its 19th biggest position. Privium Fund Management B.V. owned approximately 0.25% of Arcutis Biotherapeutics worth $5,768,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of ARQT. PNC Financial Services Group Inc. increased its stake in shares of Arcutis Biotherapeutics by 10.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,828 shares of the company’s stock valued at $124,000 after purchasing an additional 820 shares in the last quarter. Atlas Wealth LLC acquired a new stake in Arcutis Biotherapeutics in the second quarter valued at approximately $138,000. Quantbot Technologies LP purchased a new stake in shares of Arcutis Biotherapeutics in the second quarter valued at approximately $145,000. Russell Investments Group Ltd. increased its position in shares of Arcutis Biotherapeutics by 4,562.5% in the second quarter. Russell Investments Group Ltd. now owns 11,190 shares of the company’s stock valued at $157,000 after buying an additional 10,950 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of Arcutis Biotherapeutics by 38.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 11,653 shares of the company’s stock worth $163,000 after buying an additional 3,234 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ARQT shares. Mizuho lifted their price target on shares of Arcutis Biotherapeutics from $32.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, November 28th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price objective on shares of Arcutis Biotherapeutics in a report on Wednesday, October 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a research note on Monday, December 29th. Zacks Research downgraded shares of Arcutis Biotherapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Finally, Wall Street Zen cut Arcutis Biotherapeutics from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.20.

Insider Activity at Arcutis Biotherapeutics

In other news, insider Todd Watanabe sold 48,945 shares of the stock in a transaction on Monday, November 24th. The stock was sold at an average price of $30.36, for a total value of $1,485,970.20. Following the sale, the insider directly owned 740,537 shares in the company, valued at approximately $22,482,703.32. This trade represents a 6.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Patrick Burnett sold 2,490 shares of Arcutis Biotherapeutics stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $28.98, for a total value of $72,160.20. Following the completion of the transaction, the insider owned 94,120 shares of the company’s stock, valued at $2,727,597.60. The trade was a 2.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 253,912 shares of company stock worth $6,884,105 over the last 90 days. 9.40% of the stock is currently owned by corporate insiders.

Arcutis Biotherapeutics Trading Down 1.4%

Shares of Arcutis Biotherapeutics stock opened at $25.37 on Friday. The stock has a 50 day moving average of $28.52 and a 200 day moving average of $22.16. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.28 and a current ratio of 3.50. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of -70.47 and a beta of 1.71. Arcutis Biotherapeutics, Inc. has a fifty-two week low of $11.13 and a fifty-two week high of $31.77.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.16. The business had revenue of $99.22 million for the quarter, compared to the consensus estimate of $86.69 million. Arcutis Biotherapeutics had a negative net margin of 13.94% and a negative return on equity of 29.69%. As a group, research analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current 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.