Arcutis Biotherapeutics (NASDAQ:ARQT) Director Terrie Curran Sells 1,072 Shares of Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Terrie Curran sold 1,072 shares of Arcutis Biotherapeutics stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $26.04, for a total transaction of $27,914.88. Following the completion of the transaction, the director owned 23,526 shares in the company, valued at approximately $612,617.04. This trade represents a 4.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Arcutis Biotherapeutics Stock Performance

Shares of ARQT opened at $24.78 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.67 and a current ratio of 2.92. The stock has a market capitalization of $3.11 billion, a P/E ratio of 118.01 and a beta of 1.49. The company’s fifty day moving average is $26.76 and its two-hundred day moving average is $24.67. Arcutis Biotherapeutics, Inc. has a 1 year low of $15.10 and a 1 year high of $31.77.

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

Analyst Upgrades and Downgrades

ARQT has been the topic of several recent analyst reports. Morgan Stanley boosted their target price on Arcutis Biotherapeutics from $34.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Needham & Company LLC lifted their price target on Arcutis Biotherapeutics from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Weiss Ratings raised Arcutis Biotherapeutics from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday. Guggenheim increased their price objective on Arcutis Biotherapeutics from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Wall Street Zen raised Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $35.57.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC boosted its position in shares of Arcutis Biotherapeutics by 21.4% in the 1st quarter. AQR Capital Management LLC now owns 248,196 shares of the company’s stock worth $3,882,000 after buying an additional 43,716 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Arcutis Biotherapeutics by 3.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,417 shares of the company’s stock valued at $1,118,000 after acquiring an additional 2,063 shares in the last quarter. Creative Planning raised its position in Arcutis Biotherapeutics by 8.2% during the second quarter. Creative Planning now owns 19,575 shares of the company’s stock worth $274,000 after acquiring an additional 1,477 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Arcutis Biotherapeutics by 1.0% in the second quarter. JPMorgan Chase & Co. now owns 548,789 shares of the company’s stock valued at $7,694,000 after purchasing an additional 5,407 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Arcutis Biotherapeutics by 4,562.5% in the second quarter. Russell Investments Group Ltd. now owns 11,190 shares of the company’s stock valued at $157,000 after purchasing an additional 10,950 shares in the last quarter.

Arcutis Biotherapeutics Company Profile

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.