Arcutis Biotherapeutics (NASDAQ:ARQT) Stock Price Down 4% – What’s Next?

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)’s stock price fell 4% on Friday . The stock traded as low as $13.43 and last traded at $13.20. 242,003 shares changed hands during trading, a decline of 86% from the average session volume of 1,787,045 shares. The stock had previously closed at $13.75.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ARQT. HC Wainwright reissued a “buy” rating and issued a $19.00 price target on shares of Arcutis Biotherapeutics in a research report on Monday, January 13th. Mizuho increased their target price on shares of Arcutis Biotherapeutics from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. Finally, Needham & Company LLC restated a “buy” rating and set a $18.00 price target on shares of Arcutis Biotherapeutics in a report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $16.60.

Arcutis Biotherapeutics Trading Down 7.8 %

The company has a market cap of $1.48 billion, a price-to-earnings ratio of -7.08 and a beta of 1.30. The company’s 50 day moving average price is $12.87 and its 200 day moving average price is $10.81. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its earnings results on Wednesday, November 6th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.09. The firm had revenue of $44.76 million for the quarter, compared to the consensus estimate of $38.05 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. Research analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.36 EPS for the current year.

Insider Buying and Selling

In related news, Director Terrie Curran sold 8,687 shares of Arcutis Biotherapeutics stock in a transaction on Monday, November 11th. The shares were sold at an average price of $10.85, for a total value of $94,253.95. Following the transaction, the director now owns 10,139 shares in the company, valued at $110,008.15. This trade represents a 46.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Howard G. Welgus sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.67, for a total transaction of $146,700.00. Following the sale, the director now owns 151,944 shares of the company’s stock, valued at $2,229,018.48. This trade represents a 6.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,291 shares of company stock worth $927,966. 9.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Several large investors have recently made changes to their positions in ARQT. Suvretta Capital Management LLC grew its holdings in Arcutis Biotherapeutics by 7.2% in the 3rd quarter. Suvretta Capital Management LLC now owns 10,721,511 shares of the company’s stock valued at $99,710,000 after buying an additional 717,019 shares during the last quarter. GSA Capital Partners LLP boosted its position in shares of Arcutis Biotherapeutics by 730.0% in the third quarter. GSA Capital Partners LLP now owns 237,174 shares of the company’s stock valued at $2,206,000 after acquiring an additional 208,599 shares during the period. Rubric Capital Management LP grew its stake in shares of Arcutis Biotherapeutics by 11.7% in the third quarter. Rubric Capital Management LP now owns 10,966,672 shares of the company’s stock worth $101,990,000 after acquiring an additional 1,150,000 shares during the last quarter. Wesbanco Bank Inc. bought a new position in Arcutis Biotherapeutics during the third quarter worth $955,000. Finally, Algert Global LLC raised its stake in Arcutis Biotherapeutics by 595.9% during the 3rd quarter. Algert Global LLC now owns 72,480 shares of the company’s stock valued at $674,000 after purchasing an additional 62,065 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.