Todd Watanabe Sells 1,055 Shares of Arcutis Biotherapeutics (NASDAQ:ARQT) Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Todd Watanabe sold 1,055 shares of the firm’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $30.00, for a total value of $31,650.00. Following the sale, the insider directly owned 793,838 shares of the company’s stock, valued at approximately $23,815,140. This represents a 0.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, November 24th, Todd Watanabe sold 48,945 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $30.36, for a total transaction of $1,485,970.20.
• On Monday, November 3rd, Todd Watanabe sold 11,547 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $24.72, for a total transaction of $285,441.84.
• On Tuesday, October 28th, Todd Watanabe sold 40,000 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $25.03, for a total transaction of $1,001,200.00.
• On Thursday, October 2nd, Todd Watanabe sold 20,739 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $20.04, for a total transaction of $415,609.56.
• 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 stock was 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 stock was sold at an average price of $17.54, for a total transaction of $168,822.50.

Arcutis Biotherapeutics Stock Performance

Arcutis Biotherapeutics stock traded up $1.27 during trading on Monday, hitting $30.76. The stock had a trading volume of 3,780,365 shares, compared to its average volume of 2,170,959. The stock’s 50 day moving average is $21.59 and its two-hundred day moving average is $17.13. Arcutis Biotherapeutics, Inc. has a 1 year low of $10.21 and a 1 year high of $31.10. The stock has a market cap of $3.77 billion, a price-to-earnings ratio of -85.44 and a beta of 1.96. The company has a quick ratio of 3.28, a current ratio of 3.50 and a debt-to-equity ratio of 0.68.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its earnings results 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 business had revenue of $99.22 million during the quarter, compared to the consensus estimate of $86.69 million. Arcutis Biotherapeutics had a negative return on equity of 29.69% and a negative net margin of 13.94%. As a group, analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

Analysts Set New Price Targets

ARQT has been the topic of a number of research reports. Wall Street Zen upgraded Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 1st. Needham & Company LLC increased their target price on shares of Arcutis Biotherapeutics from $22.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, October 28th. The Goldman Sachs Group boosted their price target 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. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Arcutis Biotherapeutics in a report on Wednesday, October 29th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Arcutis Biotherapeutics in a research note on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $28.00.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Several hedge funds have recently bought and sold shares of the company. Perpetual Ltd increased its holdings in Arcutis Biotherapeutics by 7,534.3% during the 3rd quarter. Perpetual Ltd now owns 2,024,606 shares of the company’s stock worth $38,164,000 after acquiring an additional 1,998,086 shares during the period. Paradigm Biocapital Advisors LP purchased a new position in shares of Arcutis Biotherapeutics during the 1st quarter valued at $22,918,000. Jennison Associates LLC increased its holdings in shares of Arcutis Biotherapeutics by 10.3% in the third quarter. Jennison Associates LLC now owns 12,254,119 shares of the company’s stock worth $230,990,000 after purchasing an additional 1,144,714 shares during the period. Frazier Life Sciences Management L.P. raised its position in shares of Arcutis Biotherapeutics by 12.4% in the second quarter. Frazier Life Sciences Management L.P. now owns 9,874,511 shares of the company’s stock worth $138,441,000 after buying an additional 1,089,227 shares in the last quarter. Finally, Voloridge Investment Management LLC purchased a new stake in shares of Arcutis Biotherapeutics in the third quarter worth $15,711,000.

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.