Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) CFO Sells $110,214.48 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) CFO David Joseph Topper sold 11,626 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $9.48, for a total value of $110,214.48. Following the transaction, the chief financial officer now owns 158,374 shares of the company’s stock, valued at $1,501,385.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Arcutis Biotherapeutics Price Performance

Shares of ARQT opened at $9.36 on Friday. The company has a current ratio of 8.46, a quick ratio of 8.19 and a debt-to-equity ratio of 1.09. The firm’s fifty day simple moving average is $9.83 and its 200-day simple moving average is $9.52. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -3.19 and a beta of 1.18. Arcutis Biotherapeutics, Inc. has a twelve month low of $1.76 and a twelve month high of $13.17.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.06. The company had revenue of $30.86 million during the quarter, compared to the consensus estimate of $31.00 million. Arcutis Biotherapeutics had a negative return on equity of 145.41% and a negative net margin of 150.51%. During the same period in the previous year, the business earned ($1.16) EPS. Equities analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 target price on shares of Arcutis Biotherapeutics in a research report on Thursday, August 15th. Jefferies Financial Group initiated coverage on shares of Arcutis Biotherapeutics in a report on Wednesday, August 28th. They set a “buy” rating and a $15.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $13.33.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cape Investment Advisory Inc. purchased a new stake in shares of Arcutis Biotherapeutics during the 4th quarter worth approximately $26,000. Cantor Fitzgerald L. P. purchased a new stake in Arcutis Biotherapeutics in the fourth quarter valued at $33,000. Victory Capital Management Inc. acquired a new position in Arcutis Biotherapeutics in the fourth quarter valued at $34,000. CWM LLC grew its holdings in shares of Arcutis Biotherapeutics by 6,740.0% during the second quarter. CWM LLC now owns 4,104 shares of the company’s stock worth $38,000 after purchasing an additional 4,044 shares during the last quarter. Finally, Ameritas Investment Partners Inc. lifted its holdings in shares of Arcutis Biotherapeutics by 55.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 7,871 shares of the company’s stock valued at $78,000 after purchasing an additional 2,800 shares during the last quarter.

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.