Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Insider Sells $26,280.00 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Todd Franklin Watanabe sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $17.52, for a total value of $26,280.00. Following the sale, the insider now owns 927,414 shares in the company, valued at approximately $16,248,293.28. This represents a 0.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, March 17th, Todd Franklin Watanabe sold 1,200 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $17.61, for a total transaction of $21,132.00.

Arcutis Biotherapeutics Stock Performance

Shares of NASDAQ ARQT traded down $0.64 during trading hours on Wednesday, reaching $16.47. 1,557,253 shares of the stock were exchanged, compared to its average volume of 2,384,729. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of -9.20 and a beta of 1.48. The stock’s fifty day simple moving average is $13.87 and its 200 day simple moving average is $12.18. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46. Arcutis Biotherapeutics, Inc. has a 52 week low of $6.99 and a 52 week high of $17.75.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.19. The business had revenue of $71.36 million for the quarter, compared to the consensus estimate of $60.52 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. Sell-side analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

Analyst Ratings Changes

ARQT has been the subject of a number of analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $20.00 price objective on shares of Arcutis Biotherapeutics in a research report on Wednesday, February 26th. Jefferies Financial Group lifted their price target on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. Mizuho boosted their price target on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. HC Wainwright reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Arcutis Biotherapeutics in a research report on Wednesday, February 26th. Finally, The Goldman Sachs Group increased their price target on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Arcutis Biotherapeutics has a consensus rating of “Moderate Buy” and an average target price of $18.80.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Asset Management L.P. grew its position in Arcutis Biotherapeutics by 617.5% during the fourth quarter. Point72 Asset Management L.P. now owns 1,753,522 shares of the company’s stock worth $24,427,000 after buying an additional 1,509,136 shares in the last quarter. Cercano Management LLC acquired a new stake in shares of Arcutis Biotherapeutics during the 4th quarter worth $17,487,000. Millennium Management LLC increased its position in shares of Arcutis Biotherapeutics by 101.3% in the fourth quarter. Millennium Management LLC now owns 2,310,163 shares of the company’s stock worth $32,181,000 after purchasing an additional 1,162,690 shares during the period. Rubric Capital Management LP raised its stake in Arcutis Biotherapeutics by 11.7% in the third quarter. Rubric Capital Management LP now owns 10,966,672 shares of the company’s stock valued at $101,990,000 after purchasing an additional 1,150,000 shares in the last quarter. Finally, Driehaus Capital Management LLC bought a new stake in Arcutis Biotherapeutics during the fourth quarter worth about $15,278,000.

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.