Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Insider Sells $104,835.57 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Larry Todd Edwards sold 7,451 shares of the business’s stock in a transaction on Monday, May 19th. The shares were sold at an average price of $14.07, for a total transaction of $104,835.57. Following the completion of the transaction, the insider now owns 183,104 shares in the company, valued at approximately $2,576,273.28. The trade was a 3.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Arcutis Biotherapeutics Stock Performance

ARQT opened at $14.51 on Wednesday. The company has a market cap of $1.73 billion, a price-to-earnings ratio of -8.11 and a beta of 1.87. The company’s fifty day moving average price is $14.67 and its two-hundred day moving average price is $13.51. Arcutis Biotherapeutics, Inc. has a 1-year low of $6.99 and a 1-year high of $17.75. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67.

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

Institutional Investors Weigh In On Arcutis Biotherapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in ARQT. Barclays PLC increased its stake in Arcutis Biotherapeutics by 45.8% in the 3rd quarter. Barclays PLC now owns 253,392 shares of the company’s stock valued at $2,356,000 after buying an additional 79,579 shares during the last quarter. LVW Advisors LLC bought a new position in shares of Arcutis Biotherapeutics during the 4th quarter valued at approximately $166,000. SG Americas Securities LLC grew its position in shares of Arcutis Biotherapeutics by 25.4% during the 4th quarter. SG Americas Securities LLC now owns 48,087 shares of the company’s stock valued at $670,000 after acquiring an additional 9,754 shares during the period. Zweig DiMenna Associates LLC bought a new position in shares of Arcutis Biotherapeutics during the 4th quarter valued at approximately $578,000. Finally, China Universal Asset Management Co. Ltd. grew its position in shares of Arcutis Biotherapeutics by 10.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 24,818 shares of the company’s stock valued at $346,000 after acquiring an additional 2,336 shares during the period.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ARQT. The Goldman Sachs Group boosted their target price on shares of Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and set a $20.00 price objective on shares of Arcutis Biotherapeutics in a research report on Wednesday, April 9th. HC Wainwright reaffirmed a “buy” rating and issued a $19.00 target price on shares of Arcutis Biotherapeutics in a research report on Thursday, April 3rd. Guggenheim reaffirmed a “buy” rating on shares of Arcutis Biotherapeutics in a research note on Thursday, April 3rd. Finally, Jefferies Financial Group increased their price target on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. One equities 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.com, Arcutis Biotherapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price 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.