Arcutis Biotherapeutics (NASDAQ:ARQT) Insider Sells $174,736.00 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Patrick Burnett sold 6,700 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $26.08, for a total transaction of $174,736.00. Following the transaction, the insider owned 119,289 shares in the company, valued at $3,111,057.12. The trade was a 5.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Patrick Burnett also recently made the following trade(s):

• On Tuesday, August 11th, Patrick Burnett sold 8,300 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $26.52, for a total transaction of $220,116.00.
• On Monday, August 3rd, Patrick Burnett sold 955 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $26.12, for a total transaction of $24,944.60.

Arcutis Biotherapeutics Price Performance

Shares of ARQT opened at $26.19 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.92 and a quick ratio of 2.67. The company’s fifty day moving average price is $26.52 and its 200-day moving average price is $24.69. Arcutis Biotherapeutics, Inc. has a 1-year low of $15.10 and a 1-year high of $31.77. The firm has a market capitalization of $3.29 billion, a PE ratio of 124.72 and a beta of 1.49.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its 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. Arcutis Biotherapeutics had a return on equity of 15.05% and a net margin of 6.15%.The company had revenue of $129.86 million during the quarter, compared to analyst estimates of $118.85 million. On average, equities research analysts predict that Arcutis Biotherapeutics, Inc. will post 0.4 EPS for the current year.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. SBI Securities Co. Ltd. lifted its holdings in shares of 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 during the period. Global Retirement Partners LLC acquired a new stake in Arcutis Biotherapeutics during the fourth quarter worth about $35,000. EverSource Wealth Advisors LLC raised its position in Arcutis Biotherapeutics by 124.0% during 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 raised its position in Arcutis Biotherapeutics by 209.0% during the fourth quarter. NewEdge Advisors LLC now owns 1,545 shares of the company’s stock valued at $45,000 after acquiring an additional 1,045 shares in the last quarter. Finally, Truvestments Capital LLC lifted its holdings in Arcutis Biotherapeutics by 114.2% in the fourth quarter. Truvestments Capital LLC now owns 3,012 shares of the company’s stock valued at $87,000 after acquiring an additional 1,606 shares during the period.

Analyst Ratings Changes

Several research analysts have recently issued reports on ARQT shares. Needham & Company LLC raised their price objective on Arcutis Biotherapeutics from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Weiss Ratings upgraded shares of Arcutis Biotherapeutics from a “sell (d-)” rating to a “hold (c-)” rating in a report on Thursday, August 6th. Guggenheim raised their price target on shares of Arcutis Biotherapeutics from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Wall Street Zen raised shares of Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Finally, Morgan Stanley lifted their price objective on shares of Arcutis Biotherapeutics from $34.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Six research 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 a consensus rating of “Moderate Buy” and an average price target 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.