Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Insider Sells $43,530.20 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Masaru Matsuda sold 5,015 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $8.68, for a total transaction of $43,530.20. Following the completion of the transaction, the insider now directly owns 178,273 shares of the company’s stock, valued at $1,547,409.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Arcutis Biotherapeutics Price Performance

Arcutis Biotherapeutics stock opened at $10.40 on Friday. The stock has a market cap of $1.22 billion, a P/E ratio of -4.75 and a beta of 1.18. The company has a fifty day simple moving average of $9.67 and a 200-day simple moving average of $9.30. Arcutis Biotherapeutics, Inc. has a 12-month low of $1.76 and a 12-month high of $13.17. The company has a current ratio of 8.46, a quick ratio of 8.19 and a debt-to-equity ratio of 1.09.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.09. The business had revenue of $44.76 million during the quarter, compared to analysts’ expectations of $38.05 million. Arcutis Biotherapeutics had a negative net margin of 150.51% and a negative return on equity of 145.41%. Equities analysts expect that Arcutis Biotherapeutics, Inc. will post -1.6 EPS for the current fiscal year.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC lifted its position in Arcutis Biotherapeutics by 531.2% in the second quarter. SG Americas Securities LLC now owns 99,161 shares of the company’s stock valued at $922,000 after acquiring an additional 83,452 shares during the last quarter. Vanguard Group Inc. lifted its position in Arcutis Biotherapeutics by 5.5% in the first quarter. Vanguard Group Inc. now owns 5,166,417 shares of the company’s stock valued at $51,199,000 after acquiring an additional 269,904 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Arcutis Biotherapeutics in the first quarter valued at $1,194,000. Wesbanco Bank Inc. purchased a new stake in Arcutis Biotherapeutics in the third quarter valued at $955,000. Finally, AMI Asset Management Corp lifted its position in Arcutis Biotherapeutics by 36.2% in the third quarter. AMI Asset Management Corp now owns 223,681 shares of the company’s stock valued at $2,080,000 after acquiring an additional 59,487 shares during the last quarter.

Analyst Ratings Changes

Several brokerages have commented on ARQT. Jefferies Financial Group began coverage on shares of Arcutis Biotherapeutics in a research report on Wednesday, August 28th. They issued a “buy” rating and a $15.00 price target for the company. Needham & Company LLC reissued a “buy” rating and issued a $18.00 price target on shares of Arcutis Biotherapeutics in a research report on Thursday. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Arcutis Biotherapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.40.

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.