Insider Selling: Arcutis Biotherapeutics (NASDAQ:ARQT) Insider Sells 2,550 Shares of Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Masaru Matsuda sold 2,550 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $28.29, for a total transaction of $72,139.50. Following the completion of the sale, the insider owned 151,476 shares in the company, valued at $4,285,256.04. This represents a 1.66% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, November 3rd, Masaru Matsuda sold 7,208 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $24.72, for a total transaction of $178,181.76.
• On Thursday, September 4th, Masaru Matsuda sold 36,130 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $16.16, for a total value of $583,860.80.

Arcutis Biotherapeutics Price Performance

Shares of ARQT stock traded up $2.16 during trading hours on Friday, hitting $29.49. 2,593,352 shares of the company’s stock were exchanged, compared to its average volume of 2,165,022. Arcutis Biotherapeutics, Inc. has a 52 week low of $10.05 and a 52 week high of $30.01. The stock has a market cap of $3.61 billion, a price-to-earnings ratio of -81.92 and a beta of 1.97. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.50 and a quick ratio of 3.28. The stock’s 50-day moving average is $21.34 and its 200-day moving average is $16.99.

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

Analyst Ratings Changes

A number of brokerages recently weighed in on ARQT. The Goldman Sachs Group raised their price target on shares of Arcutis Biotherapeutics from $19.00 to $29.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Zacks Research raised Arcutis Biotherapeutics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 29th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of Arcutis Biotherapeutics in a research note on Wednesday, October 29th. Wall Street Zen upgraded Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Arcutis Biotherapeutics in a report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $28.00.

Institutional Trading of Arcutis Biotherapeutics

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

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.