Fishman Jay A Ltd. MI Raises Stake in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Fishman Jay A Ltd. MI boosted its holdings in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 28.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 536,400 shares of the company’s stock after acquiring an additional 118,400 shares during the period. Arcutis Biotherapeutics accounts for about 0.7% of Fishman Jay A Ltd. MI’s investment portfolio, making the stock its 22nd largest holding. Fishman Jay A Ltd. MI owned about 0.46% of Arcutis Biotherapeutics worth $7,472,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Jennison Associates LLC raised its holdings in Arcutis Biotherapeutics by 5.8% in the fourth quarter. Jennison Associates LLC now owns 12,339,792 shares of the company’s stock worth $171,893,000 after buying an additional 676,295 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in Arcutis Biotherapeutics by 10.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 24,818 shares of the company’s stock worth $346,000 after buying an additional 2,336 shares during the last quarter. Zweig DiMenna Associates LLC purchased a new position in Arcutis Biotherapeutics in the fourth quarter worth about $578,000. SG Americas Securities LLC raised its holdings in Arcutis Biotherapeutics by 25.4% in the fourth quarter. SG Americas Securities LLC now owns 48,087 shares of the company’s stock worth $670,000 after buying an additional 9,754 shares during the last quarter. Finally, LVW Advisors LLC purchased a new position in Arcutis Biotherapeutics in the fourth quarter worth about $166,000.

Insider Transactions at Arcutis Biotherapeutics

In related news, insider Todd Franklin Watanabe sold 15,000 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $15.17, for a total transaction of $227,550.00. Following the sale, the insider now owns 823,430 shares of the company’s stock, valued at $12,491,433.10. This represents a 1.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Patrick Burnett sold 16,023 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $10.14, for a total transaction of $162,473.22. Following the sale, the insider now directly owns 128,669 shares in the company, valued at approximately $1,304,703.66. The trade was a 11.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,927 shares of company stock valued at $936,675. 9.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ARQT. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price target on shares of Arcutis Biotherapeutics in a research note on Thursday, November 7th. HC Wainwright reiterated a “buy” rating and issued a $19.00 price target on shares of Arcutis Biotherapeutics in a research note on Monday, January 13th. Mizuho lifted their price target on shares of Arcutis Biotherapeutics from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. Finally, Guggenheim reiterated a “buy” rating on shares of Arcutis Biotherapeutics in a research note on Monday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Arcutis Biotherapeutics has an average rating of “Moderate Buy” and a consensus price target of $16.60.

Arcutis Biotherapeutics Stock Performance

ARQT opened at $11.40 on Wednesday. Arcutis Biotherapeutics, Inc. has a 1-year low of $6.05 and a 1-year high of $16.20. The company has a 50 day simple moving average of $13.62 and a two-hundred day simple moving average of $11.17. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38. The firm has a market cap of $1.33 billion, a P/E ratio of -6.37 and a beta of 1.29.

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.