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

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) 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:ARQT) 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.

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

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.