Arcutis Biotherapeutics, Inc. $ARQT Shares Sold by Tejara Capital Ltd

Tejara Capital Ltd lowered its holdings in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 40.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 520,503 shares of the company’s stock after selling 352,878 shares during the period. Arcutis Biotherapeutics makes up about 5.1% of Tejara Capital Ltd’s portfolio, making the stock its 3rd largest holding. Tejara Capital Ltd’s holdings in Arcutis Biotherapeutics were worth $9,811,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Frazier Life Sciences Management L.P. grew its holdings in shares of Arcutis Biotherapeutics by 12.4% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 9,874,511 shares of the company’s stock valued at $138,441,000 after purchasing an additional 1,089,227 shares during the last quarter. Perpetual Ltd lifted its stake in Arcutis Biotherapeutics by 7,534.3% in the 3rd quarter. Perpetual Ltd now owns 2,024,606 shares of the company’s stock valued at $38,164,000 after purchasing an additional 1,998,086 shares during the last quarter. Jennison Associates LLC boosted its position in Arcutis Biotherapeutics by 10.3% in the third quarter. Jennison Associates LLC now owns 12,254,119 shares of the company’s stock valued at $230,990,000 after buying an additional 1,144,714 shares in the last quarter. Corton Capital Inc. acquired a new stake in Arcutis Biotherapeutics in the second quarter valued at approximately $238,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Arcutis Biotherapeutics during the third quarter worth $1,630,000.

Insiders Place Their Bets

In other Arcutis Biotherapeutics news, insider Larry Todd Edwards sold 29,131 shares of the stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $25.16, for a total transaction of $732,935.96. Following the sale, the insider owned 150,193 shares in the company, valued at $3,778,855.88. This represents a 16.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Sue-Jean Lin sold 25,272 shares of the firm’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $30.78, for a total value of $777,872.16. Following the completion of the transaction, the director owned 26,735 shares of the company’s stock, valued at approximately $822,903.30. This represents a 48.59% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 253,912 shares of company stock valued at $6,884,105. 9.40% of the stock is currently owned by insiders.

Arcutis Biotherapeutics Trading Down 1.4%

NASDAQ:ARQT opened at $25.37 on Friday. The company has a market cap of $3.11 billion, a PE ratio of -70.47 and a beta of 1.71. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.50 and a quick ratio of 3.28. Arcutis Biotherapeutics, Inc. has a one year low of $11.13 and a one year high of $31.77. The firm has a 50-day moving average of $28.52 and a 200-day moving average of $22.21.

Analysts Set New Price Targets

ARQT has been the subject of a number of research reports. Needham & Company LLC increased their price target on Arcutis Biotherapeutics from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, January 26th. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 target price on shares of Arcutis Biotherapeutics in a report on Wednesday, October 29th. Mizuho lifted their price target on Arcutis Biotherapeutics from $32.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, November 28th. The Goldman Sachs Group boosted their price target on Arcutis Biotherapeutics from $19.00 to $29.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Finally, Wall Street Zen downgraded Arcutis Biotherapeutics from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd. Six research 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $29.20.

Arcutis Biotherapeutics Company 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.