Jackson Creek Investment Advisors LLC Purchases Shares of 151,293 Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Jackson Creek Investment Advisors LLC acquired a new position in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 151,293 shares of the company’s stock, valued at approximately $2,108,000. Arcutis Biotherapeutics comprises about 0.6% of Jackson Creek Investment Advisors LLC’s holdings, making the stock its 7th largest position.

Several other large investors have also made changes to their positions in the company. Point72 DIFC Ltd purchased a new stake in Arcutis Biotherapeutics during the third quarter worth approximately $25,000. Venturi Wealth Management LLC purchased a new stake in Arcutis Biotherapeutics during the 4th quarter worth $46,000. Erste Asset Management GmbH acquired a new stake in Arcutis Biotherapeutics in the 3rd quarter valued at $104,000. Victory Capital Management Inc. raised its position in Arcutis Biotherapeutics by 9.9% in the third quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock valued at $119,000 after purchasing an additional 1,155 shares during the period. Finally, Creative Planning acquired a new position in shares of Arcutis Biotherapeutics during the third quarter worth about $127,000.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ARQT. The Goldman Sachs Group increased their target price on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, February 27th. Guggenheim reaffirmed a “buy” rating on shares of Arcutis Biotherapeutics in a research report on Monday, February 24th. Mizuho lifted their price objective on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Needham & Company LLC restated a “buy” rating and issued a $20.00 target price on shares of Arcutis Biotherapeutics in a research note on Wednesday, February 26th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $19.00 price target on shares of Arcutis Biotherapeutics in a report on Wednesday, February 26th. One equities research 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.00.

Insider Activity at Arcutis Biotherapeutics

In related news, insider Todd Franklin Watanabe sold 15,000 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $15.17, for a total value of $227,550.00. Following the completion of 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 SEC, which is available through the SEC website. Also, Director Howard G. Welgus sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.67, for a total transaction of $146,700.00. Following the transaction, the director now owns 151,944 shares in the company, valued at $2,229,018.48. This represents a 6.17 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 57,848 shares of company stock valued at $797,648. Corporate insiders own 9.50% of the company’s stock.

Arcutis Biotherapeutics Trading Down 1.9 %

ARQT opened at $14.50 on Friday. Arcutis Biotherapeutics, Inc. has a 12-month low of $6.99 and a 12-month high of $16.20. 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 stock has a market capitalization of $1.72 billion, a PE ratio of -8.10 and a beta of 1.48. The firm’s fifty day moving average price is $13.45 and its 200 day moving average price is $11.57.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.19. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. The business had revenue of $71.36 million for the quarter, compared to analysts’ expectations of $60.52 million. As a group, research analysts expect that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current fiscal year.

About Arcutis Biotherapeutics

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.