Insider Selling: Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Insider Sells 1,691 Shares of Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Patrick Burnett sold 1,691 shares of the business’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $14.00, for a total transaction of $23,674.00. Following the completion of the sale, the insider now owns 126,978 shares of the company’s stock, valued at approximately $1,777,692. This represents a 1.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Friday, November 22nd, Patrick Burnett sold 16,023 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $10.14, for a total transaction of $162,473.22.
• On Friday, November 15th, Patrick Burnett sold 100 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $10.03, for a total value of $1,003.00.

Arcutis Biotherapeutics Stock Performance

Shares of ARQT stock opened at $14.56 on Friday. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67. The company has a market cap of $1.70 billion, a PE ratio of -8.13 and a beta of 1.32. Arcutis Biotherapeutics, Inc. has a 12-month low of $3.11 and a 12-month high of $15.79. The business’s fifty day simple moving average is $11.74 and its 200-day simple moving average is $10.39.

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

Hedge Funds Weigh In On Arcutis Biotherapeutics

Several hedge funds and other institutional investors have recently modified their holdings of ARQT. JPMorgan Chase & Co. increased its stake in Arcutis Biotherapeutics by 0.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,296,911 shares of the company’s stock valued at $12,061,000 after purchasing an additional 11,833 shares in the last quarter. Geode Capital Management LLC raised its stake in Arcutis Biotherapeutics by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,470,138 shares of the company’s stock worth $22,977,000 after acquiring an additional 48,868 shares during the last quarter. Barclays PLC lifted its position in Arcutis Biotherapeutics by 45.8% during the 3rd quarter. Barclays PLC now owns 253,392 shares of the company’s stock worth $2,356,000 after acquiring an additional 79,579 shares during the period. XTX Topco Ltd grew its stake in Arcutis Biotherapeutics by 30.9% during the 3rd quarter. XTX Topco Ltd now owns 47,728 shares of the company’s stock valued at $444,000 after purchasing an additional 11,262 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Arcutis Biotherapeutics by 9.9% in the third quarter. State Street Corp now owns 5,641,631 shares of the company’s stock valued at $52,467,000 after purchasing an additional 506,788 shares during the period.

Analysts Set New Price Targets

ARQT has been the subject of several recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $18.00 price target on shares of Arcutis Biotherapeutics in a research report on Thursday, November 7th. HC Wainwright started coverage on shares of Arcutis Biotherapeutics in a report on Monday. They issued a “buy” rating and a $19.00 target price for the company. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.20.

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.