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

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Howard G. Welgus sold 10,000 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $8.65, for a total value of $86,500.00. Following the sale, the director now directly owns 171,944 shares in the company, valued at $1,487,315.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Arcutis Biotherapeutics Stock Performance

Shares of ARQT stock opened at $9.66 on Thursday. 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, Inc. has a 12 month low of $1.76 and a 12 month high of $13.17. The company has a market cap of $1.13 billion, a P/E ratio of -4.41 and a beta of 1.18. The firm has a fifty day moving average price of $9.68 and a 200 day moving average price of $9.29.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating 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 company had revenue of $30.86 million during the quarter, compared to the consensus estimate of $31.00 million. During the same quarter in the prior year, the firm posted ($1.16) earnings per share. Sell-side analysts predict that Arcutis Biotherapeutics, Inc. will post -1.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Hedge funds have recently made changes to their positions in the business. CWM LLC boosted its stake in shares of Arcutis Biotherapeutics by 6,740.0% during the second quarter. CWM LLC now owns 4,104 shares of the company’s stock worth $38,000 after buying an additional 4,044 shares during the period. Ameritas Investment Partners Inc. boosted its stake in shares of Arcutis Biotherapeutics by 55.2% during the first quarter. Ameritas Investment Partners Inc. now owns 7,871 shares of the company’s stock worth $78,000 after buying an additional 2,800 shares during the period. Algert Global LLC acquired a new stake in shares of Arcutis Biotherapeutics during the second quarter worth about $97,000. Victory Capital Management Inc. boosted its stake in shares of Arcutis Biotherapeutics by 9.9% during the third 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 period. Finally, Creative Planning acquired a new stake in shares of Arcutis Biotherapeutics during the third quarter worth about $127,000.

Analysts Set New Price Targets

ARQT has been the topic of a number of recent research reports. Jefferies Financial Group initiated coverage on Arcutis Biotherapeutics in a research report on Wednesday, August 28th. They set a “buy” rating and a $15.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and set a $18.00 target price on shares of Arcutis Biotherapeutics in a research note on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Arcutis Biotherapeutics currently has a consensus rating of “Moderate Buy” and an average target price 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.