Insider Selling: Arcutis Biotherapeutics (NASDAQ:ARQT) Insider Sells 20,739 Shares of Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Todd Watanabe sold 20,739 shares of the stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $20.04, for a total transaction of $415,609.56. Following the completion of the sale, the insider owned 846,440 shares of the company’s stock, valued at approximately $16,962,657.60. The trade was a 2.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Todd Watanabe also recently made the following trade(s):

• On Wednesday, October 1st, Todd Watanabe sold 24,261 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $19.33, for a total transaction of $468,965.13.
• On Tuesday, September 9th, Todd Watanabe sold 504 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $17.52, for a total transaction of $8,830.08.
• On Monday, September 8th, Todd Watanabe sold 9,625 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $17.54, for a total transaction of $168,822.50.
• On Monday, August 4th, Todd Watanabe sold 11,547 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $14.33, for a total transaction of $165,468.51.

Arcutis Biotherapeutics Stock Down 6.3%

NASDAQ ARQT opened at $19.92 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.04 and a current ratio of 3.20. The firm has a 50-day simple moving average of $16.44 and a 200 day simple moving average of $15.07. Arcutis Biotherapeutics, Inc. has a twelve month low of $8.03 and a twelve month high of $21.30. The stock has a market cap of $2.39 billion, a PE ratio of -26.56 and a beta of 2.06.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its earnings results on Wednesday, August 6th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.05. Arcutis Biotherapeutics had a negative net margin of 35.40% and a negative return on equity of 62.62%. The business had revenue of $81.50 million during the quarter, compared to analysts’ expectations of $72.70 million. On average, research analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ARQT. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Arcutis Biotherapeutics by 1.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 280,100 shares of the company’s stock valued at $3,902,000 after acquiring an additional 3,409 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of Arcutis Biotherapeutics in the fourth quarter valued at approximately $291,000. GAMMA Investing LLC raised its stake in shares of Arcutis Biotherapeutics by 1,261.0% in the first quarter. GAMMA Investing LLC now owns 15,515 shares of the company’s stock valued at $2,430,000 after acquiring an additional 14,375 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Arcutis Biotherapeutics by 7.7% in the first quarter. Rhumbline Advisers now owns 181,074 shares of the company’s stock valued at $2,832,000 after acquiring an additional 13,022 shares during the last quarter. Finally, Silverleafe Capital Partners LLC bought a new position in shares of Arcutis Biotherapeutics in the first quarter valued at approximately $410,000.

Wall Street Analysts Forecast Growth

ARQT has been the subject of several research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a research note on Saturday, September 27th. Needham & Company LLC raised their price target on shares of Arcutis Biotherapeutics from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Wall Street Zen upgraded shares of Arcutis Biotherapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. The Goldman Sachs Group started coverage on shares of Arcutis Biotherapeutics in a research note on Friday, July 25th. They set a “neutral” rating and a $18.00 price target for the company. Finally, Cowen restated a “buy” rating on shares of Arcutis Biotherapeutics in a research note on Thursday, August 7th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.80.

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.