Masaru Matsuda Sells 7,208 Shares of Arcutis Biotherapeutics (NASDAQ:ARQT) Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Masaru Matsuda sold 7,208 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $24.72, for a total transaction of $178,181.76. Following the sale, the insider owned 154,026 shares of the company’s stock, valued at $3,807,522.72. This trade represents a 4.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Masaru Matsuda also recently made the following trade(s):

• On Thursday, September 4th, Masaru Matsuda sold 36,130 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $16.16, for a total transaction of $583,860.80.

Arcutis Biotherapeutics Price Performance

NASDAQ ARQT opened at $25.10 on Friday. Arcutis Biotherapeutics, Inc. has a fifty-two week low of $8.90 and a fifty-two week high of $27.08. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.28 and a current ratio of 3.50. The company has a market capitalization of $3.07 billion, a PE ratio of -69.72 and a beta of 1.97. The business’s fifty day moving average is $19.63 and its 200 day moving average is $16.25.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.16. The firm had revenue of $99.22 million during the quarter, compared to analysts’ expectations of $86.69 million. Arcutis Biotherapeutics had a negative net margin of 13.94% and a negative return on equity of 29.69%. Sell-side analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current year.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arizona State Retirement System grew its holdings in Arcutis Biotherapeutics by 1.8% during the 3rd quarter. Arizona State Retirement System now owns 31,685 shares of the company’s stock valued at $597,000 after buying an additional 568 shares in the last quarter. AlphaQuest LLC raised its holdings in shares of Arcutis Biotherapeutics by 5.7% during the 3rd quarter. AlphaQuest LLC now owns 12,603 shares of the company’s stock worth $238,000 after acquiring an additional 682 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Arcutis Biotherapeutics by 10.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,828 shares of the company’s stock worth $124,000 after acquiring an additional 820 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Arcutis Biotherapeutics by 3.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,697 shares of the company’s stock valued at $464,000 after acquiring an additional 917 shares during the last quarter. Finally, Amalgamated Bank grew its holdings in shares of Arcutis Biotherapeutics by 39.4% in the first quarter. Amalgamated Bank now owns 3,723 shares of the company’s stock valued at $58,000 after purchasing an additional 1,053 shares in the last quarter.

Analysts Set New Price Targets

Several brokerages have recently commented on ARQT. Weiss Ratings restated a “sell (e+)” rating on shares of Arcutis Biotherapeutics in a research report on Tuesday, October 14th. Zacks Research raised Arcutis Biotherapeutics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 29th. Needham & Company LLC boosted their price target on Arcutis Biotherapeutics from $22.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, October 28th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price objective on shares of Arcutis Biotherapeutics in a report on Wednesday, October 29th. Finally, The Goldman Sachs Group lifted their price objective on shares of Arcutis Biotherapeutics from $19.00 to $29.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Arcutis Biotherapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $28.00.

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.