25,700 Shares in Arcutis Biotherapeutics, Inc. $ARQT Bought by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund purchased a new position in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 25,700 shares of the company’s stock, valued at approximately $679,000.

Other large investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Arcutis Biotherapeutics in the 3rd quarter worth approximately $170,000. Profund Advisors LLC grew its position in Arcutis Biotherapeutics by 19.3% during the third quarter. Profund Advisors LLC now owns 49,700 shares of the company’s stock worth $1,314,000 after buying an additional 8,045 shares in the last quarter. ProShare Advisors LLC increased its stake in Arcutis Biotherapeutics by 5.0% in the 3rd quarter. ProShare Advisors LLC now owns 20,045 shares of the company’s stock worth $530,000 after acquiring an additional 958 shares during the last quarter. State of Wyoming raised its holdings in shares of Arcutis Biotherapeutics by 20.8% in the 3rd quarter. State of Wyoming now owns 12,182 shares of the company’s stock valued at $322,000 after acquiring an additional 2,094 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Arcutis Biotherapeutics in the third quarter worth approximately $864,000.

Insider Buying and Selling at Arcutis Biotherapeutics

In other news, insider Todd Watanabe sold 4,377 shares of the stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $31.86, for a total value of $139,451.22. Following the completion of the transaction, the insider owned 712,826 shares of the company’s stock, valued at approximately $22,710,636.36. This represents a 0.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Terrie Curran sold 38,200 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $25.03, for a total value of $956,146.00. Following the completion of the transaction, the director owned 23,526 shares of the company’s stock, valued at approximately $588,855.78. The trade was a 61.89% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 108,932 shares of company stock worth $3,158,225. 9.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Jefferies Financial Group reissued a “buy” rating and issued a $39.00 price target on shares of Arcutis Biotherapeutics in a research note on Thursday, October 8th. Morgan Stanley increased their target price on Arcutis Biotherapeutics from $34.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Needham & Company LLC set a $40.00 price target on Arcutis Biotherapeutics in a research report on Thursday, November 5th. Weiss Ratings upgraded Arcutis Biotherapeutics from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 29th. Finally, Guggenheim boosted their price objective on shares of Arcutis Biotherapeutics from $38.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, October 19th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Arcutis Biotherapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.75.

Arcutis Biotherapeutics Stock Up 4.5%

Shares of NASDAQ ARQT opened at $27.39 on Wednesday. The firm’s fifty day moving average is $27.28 and its 200 day moving average is $25.37. Arcutis Biotherapeutics, Inc. has a 52 week low of $19.30 and a 52 week high of $34.80. The company has a quick ratio of 2.66, a current ratio of 2.92 and a debt-to-equity ratio of 0.42. The company has a market cap of $3.46 billion, a price-to-earnings ratio of 130.43 and a beta of 1.66.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings data on Wednesday, November 4th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.12). The firm had revenue of $143.92 million during the quarter, compared to analysts’ expectations of $142.59 million. Arcutis Biotherapeutics had a net margin of 5.88% and a return on equity of 14.18%. On average, equities research analysts expect that Arcutis Biotherapeutics, Inc. will post 0.28 earnings per share for the current year.

About Arcutis Biotherapeutics

Arcutis Biotherapeutics is a biopharmaceutical company focused on developing and commercializing treatments for inflammatory skin diseases. Founded in 2016, the company is headquartered in Westlake Village, California. Arcutis primarily serves the U.S. market and continues to develop medicines for dermatologic conditions. Its leadership is headed by President and Chief Executive Officer Frank Watanabe.