Sue-Jean Lin Sells 4,946 Shares of Arcutis Biotherapeutics (NASDAQ:ARQT) Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Sue-Jean Lin sold 4,946 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $24.38, for a total transaction of $120,583.48. Following the transaction, the director owned 27,567 shares of the company’s stock, valued at approximately $672,083.46. This trade represents a 15.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Arcutis Biotherapeutics Price Performance

Shares of ARQT opened at $26.21 on Friday. The company has a 50 day moving average of $22.74 and a two-hundred day moving average of $25.12. The company has a quick ratio of 2.46, a current ratio of 2.68 and a debt-to-equity ratio of 0.54. Arcutis Biotherapeutics, Inc. has a twelve month low of $13.06 and a twelve month high of $31.77. The company has a market cap of $3.28 billion, a price-to-earnings ratio of -873.38 and a beta of 1.51.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). Arcutis Biotherapeutics had a negative return on equity of 1.41% and a negative net margin of 0.57%.The business had revenue of $105.40 million for the quarter, compared to analyst estimates of $103.67 million. As a group, analysts predict that Arcutis Biotherapeutics, Inc. will post 0.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arcutis Biotherapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. grew its stake in Arcutis Biotherapeutics by 325.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,089 shares of the company’s stock valued at $32,000 after purchasing an additional 833 shares during the last quarter. Global Retirement Partners LLC acquired a new position in shares of Arcutis Biotherapeutics in the fourth quarter valued at about $35,000. EverSource Wealth Advisors LLC increased its holdings in shares of Arcutis Biotherapeutics by 124.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the company’s stock valued at $37,000 after purchasing an additional 698 shares during the period. NewEdge Advisors LLC raised its stake in shares of Arcutis Biotherapeutics by 209.0% in the fourth quarter. NewEdge Advisors LLC now owns 1,545 shares of the company’s stock worth $45,000 after purchasing an additional 1,045 shares during the last quarter. Finally, Truvestments Capital LLC raised its stake in shares of Arcutis Biotherapeutics by 114.2% in the fourth quarter. Truvestments Capital LLC now owns 3,012 shares of the company’s stock worth $87,000 after purchasing an additional 1,606 shares during the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have commented on ARQT shares. HC Wainwright increased their price target on Arcutis Biotherapeutics from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Guggenheim boosted their price target on Arcutis Biotherapeutics from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a report on Friday, March 27th. Wall Street Zen lowered shares of Arcutis Biotherapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, TD Cowen lifted their target price on shares of Arcutis Biotherapeutics from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $34.00.

About Arcutis Biotherapeutics

Arcutis Biotherapeutics is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for immuno-inflammatory skin diseases. The company’s research and development efforts center on targeted treatments that address the underlying biology of conditions such as plaque psoriasis, atopic dermatitis, seborrheic dermatitis and vitiligo. Arcutis employs a precision-medicine approach to deliver topical therapies designed to improve efficacy and tolerability compared with existing treatment options.

In August 2022, Arcutis received U.S.