Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Insider Todd Franklin Watanabe Sells 15,000 Shares

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Todd Franklin Watanabe sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $15.17, for a total transaction of $227,550.00. Following the transaction, the insider now directly owns 823,430 shares of the company’s stock, valued at $12,491,433.10. This represents a 1.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Arcutis Biotherapeutics Stock Performance

Shares of NASDAQ ARQT traded down $0.02 during midday trading on Monday, reaching $14.97. 2,437,279 shares of the stock were exchanged, compared to its average volume of 3,133,878. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of -8.36 and a beta of 1.32. The firm has a 50-day simple moving average of $10.84 and a two-hundred day simple moving average of $10.06. Arcutis Biotherapeutics, Inc. has a twelve month low of $2.96 and a twelve month high of $15.79.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.09. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. The firm had revenue of $44.76 million for the quarter, compared to the consensus estimate of $38.05 million. As a group, analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Institutional investors have recently modified their holdings of the business. Rubric Capital Management LP raised its holdings in Arcutis Biotherapeutics by 30.7% in the 2nd quarter. Rubric Capital Management LP now owns 9,816,672 shares of the company’s stock worth $91,295,000 after purchasing an additional 2,306,672 shares during the period. Candriam S.C.A. acquired a new stake in Arcutis Biotherapeutics in the second quarter valued at approximately $12,159,000. Perceptive Advisors LLC increased its position in shares of Arcutis Biotherapeutics by 107.8% in the second quarter. Perceptive Advisors LLC now owns 1,558,500 shares of the company’s stock valued at $14,494,000 after buying an additional 808,500 shares in the last quarter. Suvretta Capital Management LLC raised its stake in shares of Arcutis Biotherapeutics by 7.2% during the 3rd quarter. Suvretta Capital Management LLC now owns 10,721,511 shares of the company’s stock worth $99,710,000 after buying an additional 717,019 shares during the period. Finally, State Street Corp lifted its position in shares of Arcutis Biotherapeutics by 9.9% during the 3rd quarter. State Street Corp now owns 5,641,631 shares of the company’s stock valued at $52,467,000 after buying an additional 506,788 shares in the last quarter.

Wall Street Analysts Forecast Growth

ARQT has been the topic of a number of research reports. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price objective on shares of Arcutis Biotherapeutics in a research note on Thursday, November 7th. Jefferies Financial Group assumed coverage on Arcutis Biotherapeutics in a research report on Wednesday, August 28th. They set a “buy” rating and a $15.00 price target on the stock.

About Arcutis Biotherapeutics

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.