Todd Watanabe Sells 48,945 Shares of Arcutis Biotherapeutics (NASDAQ:ARQT) Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Todd Watanabe sold 48,945 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $30.36, for a total transaction of $1,485,970.20. Following the completion of the sale, the insider owned 740,537 shares of the company’s stock, valued at approximately $22,482,703.32. This trade represents a 6.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, November 21st, Todd Watanabe sold 1,055 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $30.00, for a total value of $31,650.00.
• On Monday, November 3rd, Todd Watanabe sold 11,547 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $24.72, for a total value of $285,441.84.
• On Tuesday, October 28th, Todd Watanabe sold 40,000 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $25.03, for a total value of $1,001,200.00.
• On Thursday, October 2nd, Todd Watanabe sold 20,739 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $20.04, for a total value of $415,609.56.
• On Wednesday, October 1st, Todd Watanabe sold 24,261 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $19.33, for a total transaction of $468,965.13.
• On Tuesday, September 9th, Todd Watanabe sold 504 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $17.52, for a total transaction of $8,830.08.
• On Monday, September 8th, Todd Watanabe sold 9,625 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $17.54, for a total transaction of $168,822.50.

Arcutis Biotherapeutics Stock Performance

Shares of NASDAQ ARQT traded up $1.27 during midday trading on Monday, reaching $30.76. The company had a trading volume of 3,780,365 shares, compared to its average volume of 2,170,959. Arcutis Biotherapeutics, Inc. has a 1 year low of $10.21 and a 1 year high of $31.10. The business’s 50-day simple moving average is $21.59 and its 200 day simple moving average is $17.13. The company has a current ratio of 3.50, a quick ratio of 3.28 and a debt-to-equity ratio of 0.68. The stock has a market cap of $3.77 billion, a P/E ratio of -85.44 and a beta of 1.96.

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

Analyst Ratings Changes

ARQT has been the topic of a number of research reports. Mizuho set a $32.00 price objective on shares of Arcutis Biotherapeutics in a research note on Wednesday, October 29th. Wall Street Zen raised shares of Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. Cowen reaffirmed a “buy” rating on shares of Arcutis Biotherapeutics in a research report on Thursday, August 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Arcutis Biotherapeutics in a research note on Tuesday, October 14th. Finally, HC Wainwright restated a “buy” rating and issued a $30.00 target price on shares of Arcutis Biotherapeutics in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $28.00.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Johnson Investment Counsel Inc. acquired a new stake in Arcutis Biotherapeutics in the 3rd quarter valued at $30,000. Nkcfo LLC purchased a new position in Arcutis Biotherapeutics during the first quarter valued at $109,000. Jones Financial Companies Lllp increased its stake in shares of Arcutis Biotherapeutics by 1,291.1% during the third quarter. Jones Financial Companies Lllp now owns 7,067 shares of the company’s stock worth $124,000 after purchasing an additional 6,559 shares in the last quarter. Allostery Investments LP acquired a new position in shares of Arcutis Biotherapeutics during the 1st quarter worth about $117,000. Finally, PNC Financial Services Group Inc. lifted its stake in Arcutis Biotherapeutics by 10.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,828 shares of the company’s stock valued at $124,000 after buying an additional 820 shares in the last quarter.

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.