Insider Selling: Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Sells $64,878.00 in Stock


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Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Howard G. Welgus sold 2,200 shares of the firm’s stock in a transaction on Thursday, April 1st. The stock was sold at an average price of $29.49, for a total value of $64,878.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Shares of ARQT opened at $27.99 on Thursday. The stock has a 50-day moving average of $31.73 and a two-hundred day moving average of $27.72. Arcutis Biotherapeutics, Inc. has a one year low of $17.51 and a one year high of $39.85. The stock has a market cap of $1.40 billion and a P/E ratio of -3.03.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its quarterly earnings results on Monday, February 15th. The company reported ($0.79) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.88) by $0.09. As a group, equities research analysts predict that Arcutis Biotherapeutics, Inc. will post -3.98 EPS for the current fiscal year.

A number of research firms have recently weighed in on ARQT. Jonestrading began coverage on Arcutis Biotherapeutics in a research report on Thursday, January 28th. They issued a “buy” rating for the company. Cowen raised their price objective on Arcutis Biotherapeutics from $55.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, February 1st. Truist raised their price objective on Arcutis Biotherapeutics from $38.00 to $48.00 in a research report on Tuesday, February 2nd. Finally, Zacks Investment Research cut Arcutis Biotherapeutics from a “hold” rating to a “sell” rating in a research report on Monday, February 22nd. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $51.00.

Hedge funds have recently modified their holdings of the company. Penserra Capital Management LLC acquired a new position in shares of Arcutis Biotherapeutics in the 4th quarter valued at about $28,000. Pacer Advisors Inc. acquired a new position in shares of Arcutis Biotherapeutics in the 4th quarter valued at about $30,000. Cubist Systematic Strategies LLC acquired a new position in shares of Arcutis Biotherapeutics in the 3rd quarter valued at about $41,000. JPMorgan Chase & Co. lifted its holdings in shares of Arcutis Biotherapeutics by 110.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,739 shares of the company’s stock valued at $209,000 after buying an additional 3,540 shares during the period. Finally, Silverarc Capital Management LLC acquired a new position in shares of Arcutis Biotherapeutics in the 4th quarter valued at about $239,000. 79.63% of the stock is owned by institutional investors and hedge funds.

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.

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Insider Buying and Selling by Quarter for Arcutis Biotherapeutics (NASDAQ:ARQT)

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