Arcutis Biotherapeutics (NASDAQ:ARQT) Director Neha Krishnamohan Sells 40,504 Shares

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Neha Krishnamohan sold 40,504 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $23.20, for a total value of $939,692.80. Following the completion of the sale, the director directly owned 22,123 shares in the company, valued at approximately $513,253.60. This represents a 64.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Arcutis Biotherapeutics Stock Up 4.7%

Shares of Arcutis Biotherapeutics stock traded up $1.17 during midday trading on Monday, hitting $26.17. The company had a trading volume of 4,605,650 shares, compared to its average volume of 2,829,884. Arcutis Biotherapeutics, Inc. has a 52-week low of $8.90 and a 52-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 stock has a market capitalization of $3.21 billion, a P/E ratio of -72.69 and a beta of 1.96. The company has a 50 day moving average of $20.76 and a 200 day moving average of $16.76.

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, beating analysts’ consensus estimates of ($0.10) by $0.16. Arcutis Biotherapeutics had a negative return on equity of 29.69% and a negative net margin of 13.94%.The business had revenue of $99.22 million during the quarter, compared to analysts’ expectations of $86.69 million. On average, equities analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Needham & Company LLC upped their price target on shares of Arcutis Biotherapeutics from $22.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Arcutis Biotherapeutics in a report on Tuesday, October 14th. Mizuho set a $32.00 price target on shares of Arcutis Biotherapeutics in a report on Wednesday, October 29th. Cowen reissued a “buy” rating on shares of Arcutis Biotherapeutics in a research report on Thursday, August 7th. Finally, Wall Street Zen upgraded shares of Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. 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 issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $28.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Johnson Investment Counsel Inc. bought a new stake in Arcutis Biotherapeutics in the 3rd quarter worth approximately $30,000. Nkcfo LLC purchased a new position in shares of Arcutis Biotherapeutics in the 1st quarter worth $109,000. Allostery Investments LP purchased a new position in shares of Arcutis Biotherapeutics in the 1st quarter worth $117,000. PNC Financial Services Group Inc. grew its holdings in shares of Arcutis Biotherapeutics by 10.2% in the second 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 during the period. Finally, Jones Financial Companies Lllp increased its position in Arcutis Biotherapeutics by 1,291.1% during the third quarter. Jones Financial Companies Lllp now owns 7,067 shares of the company’s stock valued at $124,000 after acquiring an additional 6,559 shares during the last quarter.

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.