Arcutis Biotherapeutics (NASDAQ:ARQT) Insider Masaru Matsuda Sells 9,989 Shares of Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Masaru Matsuda sold 9,989 shares of the company’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $25.03, for a total value of $250,024.67. Following the sale, the insider owned 116,182 shares of the company’s stock, valued at $2,908,035.46. This trade represents a 7.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, August 3rd, Masaru Matsuda sold 1,230 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $26.12, for a total transaction of $32,127.60.

Arcutis Biotherapeutics Stock Down 1.9%

Shares of NASDAQ ARQT traded down $0.46 during trading hours on Thursday, hitting $23.38. 1,784,910 shares of the stock were exchanged, compared to its average volume of 1,751,096. The company has a market cap of $2.94 billion, a PE ratio of 111.34 and a beta of 1.50. Arcutis Biotherapeutics, Inc. has a 12 month low of $16.57 and a 12 month high of $31.77. The company has a quick ratio of 2.67, a current ratio of 2.92 and a debt-to-equity ratio of 0.46. The firm has a fifty day moving average price of $26.16 and a 200-day moving average price of $24.45.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. The business had revenue of $129.86 million for the quarter, compared to the consensus estimate of $118.85 million. Arcutis Biotherapeutics had a return on equity of 15.05% and a net margin of 6.15%. On average, sell-side analysts expect that Arcutis Biotherapeutics, Inc. will post 0.4 EPS for the current year.

Institutional Trading of Arcutis Biotherapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. SBI Securities Co. Ltd. lifted its stake in Arcutis Biotherapeutics by 325.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,089 shares of the company’s stock valued at $32,000 after buying an additional 833 shares in the last quarter. Global Retirement Partners LLC purchased a new position in shares of Arcutis Biotherapeutics in the fourth quarter valued at approximately $35,000. EverSource Wealth Advisors LLC lifted its position 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 acquiring an additional 698 shares in the last quarter. NewEdge Advisors LLC boosted 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 acquiring an additional 1,045 shares during the last quarter. Finally, Nykredit A S purchased a new stake in shares of Arcutis Biotherapeutics during the second quarter worth approximately $63,000.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ARQT. Guggenheim lifted their price objective on Arcutis Biotherapeutics from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Needham & Company LLC upped their price objective on Arcutis Biotherapeutics from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Wall Street Zen upgraded shares of Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Morgan Stanley upped their price objective on shares of Arcutis Biotherapeutics from $34.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Finally, Weiss Ratings lowered Arcutis Biotherapeutics from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Arcutis Biotherapeutics currently has an average rating of “Moderate Buy” and an average target price of $35.57.

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.