Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Insider Masaru Matsuda Sells 5,015 Shares

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Masaru Matsuda sold 5,015 shares of the 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 transaction, the insider now owns 178,273 shares in the company, valued at $1,547,409.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Arcutis Biotherapeutics Stock Up 3.9 %

Shares of Arcutis Biotherapeutics stock opened at $9.66 on Thursday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 8.19 and a current ratio of 8.46. Arcutis Biotherapeutics, Inc. has a 52-week low of $1.76 and a 52-week high of $13.17. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of -4.41 and a beta of 1.18. The company’s 50 day moving average price is $9.68 and its 200-day moving average price is $9.29.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its earnings results on Wednesday, August 14th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.06. Arcutis Biotherapeutics had a negative net margin of 150.51% and a negative return on equity of 145.41%. The firm had revenue of $30.86 million for the quarter, compared to analysts’ expectations of $31.00 million. During the same quarter last year, the business earned ($1.16) earnings per share. Equities research analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.6 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Rubric Capital Management LP boosted its stake in shares of Arcutis Biotherapeutics by 30.7% during the 2nd quarter. Rubric Capital Management LP now owns 9,816,672 shares of the company’s stock valued at $91,295,000 after purchasing an additional 2,306,672 shares in the last quarter. Farallon Capital Management LLC bought a new position in Arcutis Biotherapeutics in the first quarter worth about $17,640,000. Candriam S.C.A. bought a new position in Arcutis Biotherapeutics in the second quarter worth about $12,159,000. Perceptive Advisors LLC raised its stake in Arcutis Biotherapeutics by 107.8% in the second quarter. Perceptive Advisors LLC now owns 1,558,500 shares of the company’s stock worth $14,494,000 after buying an additional 808,500 shares in the last quarter. Finally, Ikarian Capital LLC bought a new position in Arcutis Biotherapeutics in the first quarter worth about $5,843,000.

Wall Street Analysts Forecast Growth

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