Insider Selling: Arcutis Biotherapeutics (NASDAQ:ARQT) Insider Sells $31,650.00 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Todd Watanabe sold 1,055 shares of Arcutis Biotherapeutics stock in a transaction on Friday, November 21st. The shares were sold at an average price of $30.00, for a total value of $31,650.00. Following the transaction, the insider owned 793,838 shares in the company, valued at $23,815,140. This represents a 0.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Todd Watanabe also recently made the following trade(s):

• On Monday, November 24th, Todd Watanabe sold 48,945 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $30.36, for a total value of $1,485,970.20.
• On Monday, November 3rd, Todd Watanabe sold 11,547 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $24.72, for a total value of $285,441.84.
• On Tuesday, October 28th, Todd Watanabe sold 40,000 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $25.03, for a total value of $1,001,200.00.
• On Thursday, October 2nd, Todd Watanabe sold 20,739 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $20.04, for a total value of $415,609.56.
• On Wednesday, October 1st, Todd Watanabe sold 24,261 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $19.33, for a total transaction of $468,965.13.
• On Tuesday, September 9th, Todd Watanabe sold 504 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $17.52, for a total transaction of $8,830.08.
• On Monday, September 8th, Todd Watanabe sold 9,625 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $17.54, for a total transaction of $168,822.50.

Arcutis Biotherapeutics Stock Up 0.7%

Arcutis Biotherapeutics stock opened at $30.96 on Thursday. Arcutis Biotherapeutics, Inc. has a twelve month low of $11.13 and a twelve month high of $31.11. 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 $3.79 billion, a PE ratio of -86.00 and a beta of 1.97. The firm’s 50 day moving average price is $22.42 and its two-hundred day moving average price is $17.47.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $0.06 EPS for the quarter, beating 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 analysts’ expectations of $86.69 million. On average, research analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current fiscal year.

Analysts Set New Price Targets

ARQT has been the topic of a number of recent research reports. Needham & Company LLC boosted their target price on Arcutis Biotherapeutics from $22.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, October 28th. Cowen reiterated a “buy” rating on shares of Arcutis Biotherapeutics in a report on Thursday, August 7th. Wall Street Zen raised Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 1st. HC Wainwright restated a “buy” rating and issued a $30.00 price objective on shares of Arcutis Biotherapeutics in a report on Wednesday, October 29th. Finally, Zacks Research raised shares of Arcutis Biotherapeutics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 29th. One equities 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, Arcutis Biotherapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

Institutional Investors Weigh In On Arcutis Biotherapeutics

A number of large investors have recently added to or reduced their stakes in ARQT. CIBC Bancorp USA Inc. bought a new position in shares of Arcutis Biotherapeutics in the third quarter valued at approximately $215,000. Woodline Partners LP boosted its holdings in shares of Arcutis Biotherapeutics by 53.1% during the 3rd quarter. Woodline Partners LP now owns 314,619 shares of the company’s stock worth $5,931,000 after buying an additional 109,109 shares during the period. Dark Forest Capital Management LP acquired a new position in Arcutis Biotherapeutics in the 3rd quarter valued at $516,000. PharVision Advisers LLC acquired a new position in Arcutis Biotherapeutics in the 3rd quarter valued at $245,000. Finally, Voleon Capital Management LP bought a new position in Arcutis Biotherapeutics in the 3rd quarter worth $468,000.

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.