Insider Selling: Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Insider Sells 8,338 Shares of Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Masaru Matsuda sold 8,338 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $12.70, for a total transaction of $105,892.60. Following the completion of the sale, the insider now directly owns 178,692 shares of the company’s stock, valued at $2,269,388.40. The trade was a 4.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Masaru Matsuda also recently made the following trade(s):

• On Tuesday, November 19th, Masaru Matsuda sold 1,775 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $9.68, for a total value of $17,182.00.

Arcutis Biotherapeutics Stock Performance

Shares of ARQT traded up $0.41 during mid-day trading on Tuesday, hitting $13.10. The stock had a trading volume of 1,872,548 shares, compared to its average volume of 1,927,538. Arcutis Biotherapeutics, Inc. has a 52 week low of $5.38 and a 52 week high of $16.20. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38. The business has a fifty day moving average price of $13.64 and a 200-day moving average price of $11.09. The firm has a market cap of $1.53 billion, a P/E ratio of -7.32 and a beta of 1.29.

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 business had revenue of $44.76 million for the quarter, compared to analysts’ expectations of $38.05 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. On average, equities research analysts expect that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on ARQT. Mizuho lifted their price target on Arcutis Biotherapeutics from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. 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, November 7th. Finally, HC Wainwright reissued a “buy” rating and issued a $19.00 price target on shares of Arcutis Biotherapeutics in a report on Monday, January 13th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $16.60.

Institutional Trading of Arcutis Biotherapeutics

A number of institutional investors have recently modified their holdings of ARQT. Rubric Capital Management LP grew its holdings in Arcutis Biotherapeutics by 11.7% during the 3rd quarter. Rubric Capital Management LP now owns 10,966,672 shares of the company’s stock valued at $101,990,000 after buying an additional 1,150,000 shares in the last quarter. Suvretta Capital Management LLC grew its stake in Arcutis Biotherapeutics by 7.2% during the third quarter. Suvretta Capital Management LLC now owns 10,721,511 shares of the company’s stock valued at $99,710,000 after acquiring an additional 717,019 shares in the last quarter. Jennison Associates LLC increased its holdings in Arcutis Biotherapeutics by 5.8% during the 4th quarter. Jennison Associates LLC now owns 12,339,792 shares of the company’s stock worth $171,893,000 after acquiring an additional 676,295 shares during the period. State Street Corp lifted its stake in Arcutis Biotherapeutics by 9.9% in the 3rd quarter. State Street Corp now owns 5,641,631 shares of the company’s stock worth $52,467,000 after purchasing an additional 506,788 shares in the last quarter. Finally, abrdn plc boosted its holdings in Arcutis Biotherapeutics by 223.8% in the 3rd quarter. abrdn plc now owns 482,074 shares of the company’s stock valued at $4,483,000 after purchasing an additional 333,200 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.