Larry Todd Edwards Sells 3,725 Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) SVP Larry Todd Edwards sold 3,725 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $10.01, for a total transaction of $37,287.25. Following the completion of the transaction, the senior vice president now owns 136,635 shares in the company, valued at $1,367,716.35. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Arcutis Biotherapeutics Stock Performance

Shares of ARQT stock opened at $10.02 on Friday. The company has a market capitalization of $1.16 billion, a P/E ratio of -3.42 and a beta of 1.17. Arcutis Biotherapeutics, Inc. has a 52 week low of $1.76 and a 52 week high of $13.17. The company has a debt-to-equity ratio of 1.09, a quick ratio of 8.19 and a current ratio of 8.46. The company’s 50 day moving average price is $9.81 and its two-hundred day moving average price is $9.50.

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

Institutional Trading of Arcutis Biotherapeutics

Institutional investors have recently modified their holdings of the company. Cantor Fitzgerald L. P. acquired a new stake in Arcutis Biotherapeutics in the 4th quarter valued at approximately $33,000. CWM LLC boosted its holdings in 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. Ameritas Investment Partners Inc. grew its position in Arcutis Biotherapeutics by 55.2% in the first 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 in the last quarter. Algert Global LLC bought a new position in Arcutis Biotherapeutics in the second quarter valued at $97,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Arcutis Biotherapeutics in the 2nd quarter valued at $174,000.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ARQT shares. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price objective on shares of Arcutis Biotherapeutics in a report on Thursday, August 15th. Jefferies Financial Group initiated coverage on Arcutis Biotherapeutics in a research report on Wednesday, August 28th. They set a “buy” rating and a $15.00 target price for the company. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $13.33.

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.