Insider Selling: Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Sells 10,000 Shares of Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Howard G. Welgus sold 10,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $12.71, for a total value of $127,100.00. Following the completion of the transaction, the director now directly owns 141,944 shares of the company’s stock, valued at approximately $1,804,108.24. This trade represents a 6.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Arcutis Biotherapeutics Trading Up 3.2 %

Arcutis Biotherapeutics stock opened at $13.10 on Wednesday. The business has a 50-day simple moving average of $13.64 and a two-hundred day simple moving average of $11.09. The company has a market cap of $1.53 billion, a P/E ratio of -7.32 and a beta of 1.29. Arcutis Biotherapeutics, Inc. has a 52-week low of $5.38 and a 52-week high of $16.20. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.09. The company had revenue of $44.76 million during the quarter, compared to the consensus estimate of $38.05 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. Analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on ARQT shares. Mizuho boosted their target price on Arcutis Biotherapeutics from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. Needham & Company LLC restated a “buy” rating and set a $18.00 price target on shares of Arcutis Biotherapeutics in a research note on Thursday, November 7th. Finally, HC Wainwright restated a “buy” rating and set a $19.00 price target on shares of Arcutis Biotherapeutics in a research note on Monday, January 13th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Arcutis Biotherapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $16.60.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Point72 DIFC Ltd bought a new position in shares of Arcutis Biotherapeutics during the 3rd quarter valued at approximately $25,000. Venturi Wealth Management LLC bought a new position in shares of Arcutis Biotherapeutics during the 4th quarter valued at approximately $46,000. Algert Global LLC bought a new position in shares of Arcutis Biotherapeutics during the 2nd quarter valued at approximately $97,000. Erste Asset Management GmbH bought a new position in shares of Arcutis Biotherapeutics during the 3rd quarter valued at approximately $104,000. Finally, Victory Capital Management Inc. grew its stake in shares of Arcutis Biotherapeutics by 9.9% during the 3rd quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock valued at $119,000 after acquiring an additional 1,155 shares during the period.

Arcutis Biotherapeutics Company Profile

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.