Arcutis Biotherapeutics (NASDAQ:ARQT) Director Terrie Curran Sells 38,200 Shares

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Terrie Curran sold 38,200 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $25.03, for a total value of $956,146.00. Following the transaction, the director directly owned 23,526 shares in the company, valued at $588,855.78. This represents a 61.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Terrie Curran also recently made the following trade(s):

• On Thursday, August 20th, Terrie Curran sold 1,072 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $26.04, for a total value of $27,914.88.

Arcutis Biotherapeutics Price Performance

Arcutis Biotherapeutics stock traded down $1.09 during midday trading on Friday, reaching $23.78. The company’s stock had a trading volume of 1,535,859 shares, compared to its average volume of 1,574,629. The firm has a market capitalization of $2.99 billion, a PE ratio of 113.24 and a beta of 1.49. Arcutis Biotherapeutics, Inc. has a fifty-two week low of $15.10 and a fifty-two week high of $31.77. The stock’s 50 day simple moving average is $26.69 and its 200 day simple moving average is $24.64. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.67 and a current ratio of 2.92.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. The business had revenue of $129.86 million for the quarter, compared to analysts’ expectations of $118.85 million. Arcutis Biotherapeutics had a net margin of 6.15% and a return on equity of 15.05%. On average, equities research analysts forecast that Arcutis Biotherapeutics, Inc. will post 0.4 earnings per share for the current year.

Analysts Set New Price Targets

ARQT has been the topic of several recent analyst reports. Guggenheim upped their target price on shares of Arcutis Biotherapeutics from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Morgan Stanley lifted their price target on shares of Arcutis Biotherapeutics from $34.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Weiss Ratings raised Arcutis Biotherapeutics from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 20th. Needham & Company LLC upped their price target on Arcutis Biotherapeutics from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Wall Street Zen raised Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.57.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System grew its stake in Arcutis Biotherapeutics by 2,479.9% in the 2nd quarter. California State Teachers Retirement System now owns 3,310,485 shares of the company’s stock valued at $86,801,000 after acquiring an additional 3,182,168 shares during the last quarter. Nykredit A S acquired a new position in Arcutis Biotherapeutics during the second quarter worth about $63,000. Montanova Capital LLC lifted its holdings in shares of Arcutis Biotherapeutics by 0.9% in the second quarter. Montanova Capital LLC now owns 12,437,000 shares of the company’s stock valued at $326,098,000 after purchasing an additional 110,000 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Arcutis Biotherapeutics in the second quarter valued at about $401,000. Finally, Two Sigma Securities LLC acquired a new stake in shares of Arcutis Biotherapeutics in the second quarter valued at approximately $331,000.

Arcutis Biotherapeutics Company Profile

Arcutis Biotherapeutics is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for immuno-inflammatory skin diseases. The company’s research and development efforts center on targeted treatments that address the underlying biology of conditions such as plaque psoriasis, atopic dermatitis, seborrheic dermatitis and vitiligo. Arcutis employs a precision-medicine approach to deliver topical therapies designed to improve efficacy and tolerability compared with existing treatment options.

In August 2022, Arcutis received U.S.