Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Insider Sells $52,606.89 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Patrick Burnett sold 3,871 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $13.59, for a total value of $52,606.89. Following the completion of the transaction, the insider now directly owns 115,468 shares in the company, valued at approximately $1,569,210.12. This represents a 3.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Friday, March 14th, Patrick Burnett sold 12,242 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $15.04, for a total value of $184,119.68.
• On Monday, March 3rd, Patrick Burnett sold 2,819 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $13.03, for a total value of $36,731.57.

Arcutis Biotherapeutics Price Performance

ARQT opened at $13.53 on Friday. The stock has a market capitalization of $1.61 billion, a PE ratio of -7.56 and a beta of 1.87. The stock’s 50 day moving average price is $14.78 and its 200-day moving average price is $13.24. Arcutis Biotherapeutics, Inc. has a 52-week low of $6.99 and a 52-week high of $17.75. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its earnings results on Tuesday, May 6th. The company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.01. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. The firm had revenue of $65.85 million for the quarter, compared to analyst estimates of $64.80 million. On average, equities research analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Jennison Associates LLC grew its stake in Arcutis Biotherapeutics by 5.8% in the fourth quarter. Jennison Associates LLC now owns 12,339,792 shares of the company’s stock worth $171,893,000 after purchasing an additional 676,295 shares during the period. Suvretta Capital Management LLC grew its position in shares of Arcutis Biotherapeutics by 6.3% in the 4th quarter. Suvretta Capital Management LLC now owns 11,399,138 shares of the company’s stock worth $158,790,000 after buying an additional 677,627 shares during the period. Polar Capital Holdings Plc increased its stake in shares of Arcutis Biotherapeutics by 7.2% in the 4th quarter. Polar Capital Holdings Plc now owns 7,377,381 shares of the company’s stock worth $102,767,000 after acquiring an additional 493,009 shares in the last quarter. Vanguard Group Inc. lifted its position in Arcutis Biotherapeutics by 5.9% during the 1st quarter. Vanguard Group Inc. now owns 6,818,078 shares of the company’s stock valued at $106,635,000 after acquiring an additional 377,363 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC boosted its stake in Arcutis Biotherapeutics by 9.8% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 3,902,991 shares of the company’s stock worth $54,369,000 after acquiring an additional 349,153 shares in the last quarter.

Analyst Ratings Changes

Several research firms have commented on ARQT. HC Wainwright reissued a “buy” rating and set a $19.00 price target on shares of Arcutis Biotherapeutics in a research note on Thursday, April 3rd. Needham & Company LLC reissued a “buy” rating and issued a $20.00 price target on shares of Arcutis Biotherapeutics in a research note on Wednesday, April 9th. Mizuho raised their price objective on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Jefferies Financial Group boosted their target price on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. Finally, The Goldman Sachs Group lifted their price target on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Arcutis Biotherapeutics presently has an average rating of “Moderate Buy” and an average price target of $18.80.

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.