Arcutis Biotherapeutics (NASDAQ:ARQT) Trading Down 7.3% – Should You Sell?

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)’s share price fell 7.3% during mid-day trading on Monday . The company traded as low as $25.90 and last traded at $26.1520. 880,870 shares changed hands during trading, a decline of 41% from the average session volume of 1,496,458 shares. The stock had previously closed at $28.22.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Zacks Research lowered shares of Arcutis Biotherapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Mizuho raised their target price on shares of Arcutis Biotherapeutics from $32.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, November 28th. HC Wainwright reiterated a “buy” rating and set a $30.00 price target on shares of Arcutis Biotherapeutics in a report on Wednesday, October 29th. The Goldman Sachs Group boosted their price target on Arcutis Biotherapeutics from $19.00 to $29.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Finally, Wall Street Zen raised Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a research report on Sunday, January 4th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Arcutis Biotherapeutics presently has an average rating of “Moderate Buy” and an average target price of $29.00.

Arcutis Biotherapeutics Trading Up 2.6%

The business has a fifty day moving average price of $28.40 and a 200-day moving average price of $21.22. The company has a quick ratio of 3.28, a current ratio of 3.50 and a debt-to-equity ratio of 0.68. The company has a market cap of $3.27 billion, a P/E ratio of -74.25 and a beta of 1.71.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its earnings results on Tuesday, October 28th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.16. The company had revenue of $99.22 million for the quarter, compared to analyst estimates of $86.69 million. Arcutis Biotherapeutics had a negative return on equity of 29.69% and a negative net margin of 13.94%. On average, analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current year.

Insider Activity at Arcutis Biotherapeutics

In other news, Director Sue-Jean Lin sold 25,272 shares of the business’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $30.78, for a total value of $777,872.16. Following the completion of the sale, the director owned 26,735 shares of the company’s stock, valued at approximately $822,903.30. The trade was a 48.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Patrick Burnett sold 2,490 shares of the firm’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $28.98, for a total transaction of $72,160.20. Following the transaction, the insider directly owned 94,120 shares in the company, valued at approximately $2,727,597.60. This represents a 2.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 293,912 shares of company stock valued at $7,885,305. 9.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Several institutional investors have recently made changes to their positions in ARQT. LVW Advisors LLC increased its stake in Arcutis Biotherapeutics by 7.4% during the 4th quarter. LVW Advisors LLC now owns 22,189 shares of the company’s stock worth $644,000 after acquiring an additional 1,535 shares during the period. Silverleafe Capital Partners LLC increased its position in shares of Arcutis Biotherapeutics by 278.8% in the fourth quarter. Silverleafe Capital Partners LLC now owns 62,994 shares of the company’s stock worth $1,829,000 after purchasing an additional 46,366 shares during the period. SG Americas Securities LLC increased its position in shares of Arcutis Biotherapeutics by 102.3% in the fourth quarter. SG Americas Securities LLC now owns 35,229 shares of the company’s stock worth $1,023,000 after purchasing an additional 17,814 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Arcutis Biotherapeutics by 15.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 16,432 shares of the company’s stock valued at $480,000 after purchasing an additional 2,221 shares in the last quarter. Finally, Nordea Investment Management AB bought a new stake in Arcutis Biotherapeutics during the fourth quarter worth about $5,850,000.

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.