Insider Selling: Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Insider Sells 12,242 Shares of Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQTGet Free Report) insider Patrick Burnett sold 12,242 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $15.04, for a total value of $184,119.68. Following the completion of the sale, the insider now directly owns 121,936 shares of the company’s stock, valued at $1,833,917.44. The trade was a 9.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Patrick Burnett also recently made the following trade(s):

  • On Monday, March 3rd, Patrick Burnett sold 2,819 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $13.03, for a total value of $36,731.57.
  • On Tuesday, December 31st, Patrick Burnett sold 1,691 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $14.00, for a total value of $23,674.00.

Arcutis Biotherapeutics Trading Up 12.3 %

Shares of ARQT stock opened at $16.42 on Tuesday. Arcutis Biotherapeutics, Inc. has a fifty-two week low of $6.99 and a fifty-two week high of $17.70. The stock has a market cap of $1.95 billion, a P/E ratio of -9.17 and a beta of 1.48. The business has a fifty day simple moving average of $13.55 and a 200-day simple moving average of $11.89. 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:ARQTGet Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.19. The firm had revenue of $71.36 million during the quarter, compared to analysts’ expectations of $60.52 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. On average, analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ARQT has been the subject of a number of recent analyst reports. Mizuho raised their target price on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. The Goldman Sachs Group raised their target price on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and issued a $20.00 target price on shares of Arcutis Biotherapeutics in a report on Wednesday, February 26th. Jefferies Financial Group raised their price target on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. Finally, Guggenheim restated a “buy” rating on shares of Arcutis Biotherapeutics in a research report on Monday, February 24th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $18.80.

Get Our Latest Stock Analysis on ARQT

Institutional Trading of Arcutis Biotherapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 DIFC Ltd purchased a new stake in Arcutis Biotherapeutics during the 3rd quarter worth about $25,000. GF Fund Management CO. LTD. purchased a new stake in Arcutis Biotherapeutics during the 4th quarter worth about $34,000. Venturi Wealth Management LLC purchased a new stake in Arcutis Biotherapeutics during the 4th quarter worth about $46,000. Erste Asset Management GmbH purchased a new stake in Arcutis Biotherapeutics during the 3rd quarter worth about $104,000. Finally, Victory Capital Management Inc. increased its position in Arcutis Biotherapeutics by 9.9% during the 3rd quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock worth $119,000 after purchasing an additional 1,155 shares in the last quarter.

About Arcutis Biotherapeutics

(Get Free Report)

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.

See Also

Insider Buying and Selling by Quarter for Arcutis Biotherapeutics (NASDAQ:ARQT)

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