Insider Selling: Arcutis Biotherapeutics (NASDAQ:ARQT) Insider Sells $732,935.96 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Larry Todd Edwards sold 29,131 shares of Arcutis Biotherapeutics stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $25.16, for a total transaction of $732,935.96. Following the completion of the transaction, the insider directly owned 150,193 shares in the company, valued at $3,778,855.88. The trade was a 16.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Larry Todd Edwards also recently made the following trade(s):

• On Thursday, October 2nd, Larry Todd Edwards sold 4,504 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $20.04, for a total transaction of $90,260.16.

Arcutis Biotherapeutics Trading Down 2.4%

NASDAQ ARQT opened at $23.45 on Thursday. The firm’s fifty day moving average is $20.29 and its two-hundred day moving average is $16.54. Arcutis Biotherapeutics, Inc. has a one year low of $8.90 and a one year high of $27.08. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.28 and a current ratio of 3.50. The firm has a market cap of $2.87 billion, a PE ratio of -65.14 and a beta of 1.97.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.16. The firm had revenue of $99.22 million for the quarter, compared to analyst estimates of $86.69 million. Arcutis Biotherapeutics had a negative return on equity of 29.69% and a negative net margin of 13.94%. Analysts expect that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ARQT shares. Wall Street Zen upgraded Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 1st. Cowen restated a “buy” rating on shares of Arcutis Biotherapeutics in a research report on Thursday, August 7th. Mizuho set a $32.00 target price on shares of Arcutis Biotherapeutics in a research note on Wednesday, October 29th. HC Wainwright reiterated a “buy” rating and set a $30.00 price target on shares of Arcutis Biotherapeutics in a research note on Wednesday, October 29th. Finally, The Goldman Sachs Group increased their price target on shares of Arcutis Biotherapeutics from $19.00 to $29.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $28.00.

Hedge Funds Weigh In On Arcutis Biotherapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in ARQT. Johnson Investment Counsel Inc. acquired a new stake in shares of Arcutis Biotherapeutics in the third quarter valued at about $30,000. Nkcfo LLC purchased a new position in Arcutis Biotherapeutics in the first quarter valued at about $109,000. Allostery Investments LP acquired a new stake in shares of Arcutis Biotherapeutics during the 1st quarter valued at approximately $117,000. PNC Financial Services Group Inc. boosted its stake in shares of Arcutis Biotherapeutics by 10.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,828 shares of the company’s stock worth $124,000 after acquiring an additional 820 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in shares of Arcutis Biotherapeutics by 1,291.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 7,067 shares of the company’s stock worth $124,000 after acquiring an additional 6,559 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.