Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Howard G. Welgus Sells 10,000 Shares

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Howard G. Welgus sold 10,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $13.00, for a total transaction of $130,000.00. Following the sale, the director now owns 131,944 shares in the company, valued at $1,715,272. The trade was a 7.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Arcutis Biotherapeutics Stock Up 4.4 %

Arcutis Biotherapeutics stock opened at $13.40 on Wednesday. Arcutis Biotherapeutics, Inc. has a 1-year low of $6.99 and a 1-year high of $16.20. The firm has a 50 day simple moving average of $13.49 and a 200 day simple moving average of $11.51. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of -7.49 and a beta of 1.29.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.19. The business had revenue of $71.36 million for the quarter, compared to analyst estimates of $60.52 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. On average, analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current year.

Institutional Trading of Arcutis Biotherapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Summit Investment Advisors Inc. raised its position in Arcutis Biotherapeutics by 8.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 11,245 shares of the company’s stock worth $157,000 after purchasing an additional 837 shares during the period. Victory Capital Management Inc. grew its position in shares of Arcutis Biotherapeutics by 9.9% in the 3rd quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock worth $119,000 after buying an additional 1,155 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in Arcutis Biotherapeutics by 10.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 24,818 shares of the company’s stock valued at $346,000 after purchasing an additional 2,336 shares during the period. GF Fund Management CO. LTD. bought a new position in Arcutis Biotherapeutics in the fourth quarter worth about $34,000. Finally, Point72 DIFC Ltd purchased a new position in shares of Arcutis Biotherapeutics in the 3rd quarter valued at approximately $25,000.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ARQT shares. Needham & Company LLC restated a “buy” rating and set a $20.00 price objective on shares of Arcutis Biotherapeutics in a research report on Wednesday, February 26th. Guggenheim reaffirmed a “buy” rating on shares of Arcutis Biotherapeutics in a research note on Monday, February 24th. Mizuho upped their target price on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. The Goldman Sachs Group raised their price objective on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, February 27th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Arcutis Biotherapeutics in a research report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.00.

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.