532,793 Shares in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Bought by Norges Bank

Norges Bank bought a new stake in Arcutis Biotherapeutics, Inc. ( NASDAQ:ARQT – Free Report ) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 532,793 shares of the company’s stock, valued at approximately $7,422,000.

Norges Bank owned 0.46% of Arcutis Biotherapeutics as of its most recent SEC filing. A number of other institutional investors have also bought and sold shares of the company.



China Universal Asset Management Co. Ltd. lifted its stake in shares of Arcutis Biotherapeutics by 10.

4% in the 4th quarter. China Universal Asset Management Co. Ltd.

now owns 24,818 shares of the company’s stock valued at $346,000 after purchasing an additional 2,336 shares during the period. Point72 DIFC Ltd bought a new stake in Arcutis Biotherapeutics in the third quarter worth approximately $25,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Arcutis Biotherapeutics by 1.

1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 276,691 shares of the company’s stock valued at $2,573,000 after buying an additional 2,912 shares during the period. Venturi Wealth Management LLC bought a new position in shares of Arcutis Biotherapeutics during the 4th quarter worth approximately $46,000.

Finally, Swiss National Bank grew its position in shares of Arcutis Biotherapeutics by 1.6% during the 4th quarter. Swiss National Bank now owns 206,900 shares of the company’s stock worth $2,882,000 after buying an additional 3,300 shares during the period.

Arcutis Biotherapeutics Trading Down 7.1 % ARQT opened at $13.29 on Wednesday.

Arcutis Biotherapeutics, Inc. has a fifty-two week low of $6.99 and a fifty-two week high of $17.

75. The firm has a market capitalization of $1.58 billion, a PE ratio of -7.

42 and a beta of 1.67. 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 company’s 50-day moving average is $14.18 and its 200 day moving average is $12.50.

Insider Buying and Selling In other Arcutis Biotherapeutics news, Director Howard G. Welgus sold 10,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $12.

71, for a total value of $127,100.00. Following the completion of the sale, the director now directly owns 141,944 shares of the company’s stock, valued at approximately $1,804,108.

24. This represents a 6.58 % decrease in their position.

The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website . Also, insider Masaru Matsuda sold 8,338 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $12.

70, for a total transaction of $105,892.60. Following the completion of the sale, the insider now owns 178,692 shares of the company’s stock, valued at approximately $2,269,388.

40. This trade represents a 4.46 % decrease in their position.

The disclosure for this sale can be found here . Over the last 90 days, insiders sold 46,099 shares of company stock worth $631,256. 9.

50% of the stock is owned by corporate insiders. Analyst Ratings Changes Several research analysts recently issued reports on ARQT shares. Mizuho increased their target price on shares of Arcutis Biotherapeutics from $20.

00 to $21.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. The Goldman Sachs Group increased their price objective on shares of Arcutis Biotherapeutics from $13.

00 to $15.00 and gave the stock a “neutral” rating in a research report on Thursday, February 27th. Needham & Company LLC restated a “buy” rating and issued a $20.

00 target price on shares of Arcutis Biotherapeutics in a research note on Thursday, April 3rd. HC Wainwright reaffirmed a “buy” rating and set a $19.00 price target on shares of Arcutis Biotherapeutics in a research note on Thursday, April 3rd.

Finally, Guggenheim reiterated a “buy” rating on shares of Arcutis Biotherapeutics in a report on Thursday, April 3rd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.

com, Arcutis Biotherapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.80. View Our Latest Report on ARQT Arcutis Biotherapeutics Profile ( Free Report ) 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. Recommended Stories Want to see what other hedge funds are holding ARQT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arcutis Biotherapeutics, Inc.

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