Insider Selling: Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Sells 10,000 Shares of Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Howard G. Welgus sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.67, for a total transaction of $146,700.00. Following the transaction, the director now directly owns 151,944 shares of the company’s stock, valued at approximately $2,229,018.48. This represents a 6.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Arcutis Biotherapeutics Trading Up 0.6 %

ARQT traded up $0.09 on Monday, hitting $14.71. 1,363,419 shares of the company were exchanged, compared to its average volume of 1,784,552. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46. The firm has a fifty day simple moving average of $11.86 and a two-hundred day simple moving average of $10.45. The stock has a market capitalization of $1.72 billion, a PE ratio of -8.22 and a beta of 1.30. Arcutis Biotherapeutics, Inc. has a 12 month low of $3.11 and a 12 month high of $15.79.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its earnings results on Wednesday, November 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $38.05 million. Sell-side analysts expect that Arcutis Biotherapeutics, Inc. will post -1.34 earnings per share for the current year.

Institutional Trading of Arcutis Biotherapeutics

Large investors have recently modified their holdings of the business. Victory Capital Management Inc. boosted its holdings in Arcutis Biotherapeutics by 9.9% in the third quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock valued at $119,000 after acquiring an additional 1,155 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Arcutis Biotherapeutics in the 3rd quarter worth about $25,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Arcutis Biotherapeutics by 1.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 276,691 shares of the company’s stock valued at $2,573,000 after purchasing an additional 2,912 shares in the last quarter. Dark Forest Capital Management LP increased its position in shares of Arcutis Biotherapeutics by 29.9% during the second quarter. Dark Forest Capital Management LP now owns 27,612 shares of the company’s stock valued at $257,000 after buying an additional 6,362 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Arcutis Biotherapeutics by 1.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 859,846 shares of the company’s stock worth $7,997,000 after buying an additional 8,522 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ARQT shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 target price on shares of Arcutis Biotherapeutics in a research note on Thursday, November 7th. HC Wainwright started coverage on shares of Arcutis Biotherapeutics in a research note on Monday, December 30th. They issued a “buy” rating and a $19.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average 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.