Insider Selling: Arcutis Biotherapeutics (NASDAQ:ARQT) Director Sells 4,946 Shares of Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Sue-Jean Lin sold 4,946 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $24.38, for a total transaction of $120,583.48. Following the completion of the transaction, the director owned 27,567 shares in the company, valued at $672,083.46. The trade was a 15.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Arcutis Biotherapeutics Trading Up 2.1%

NASDAQ:ARQT traded up $0.55 on Wednesday, hitting $26.22. The stock had a trading volume of 1,571,105 shares, compared to its average volume of 1,534,816. The company has a quick ratio of 2.46, a current ratio of 2.68 and a debt-to-equity ratio of 0.54. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of -873.71 and a beta of 1.51. The company has a fifty day moving average price of $22.68 and a two-hundred day moving average price of $25.15. Arcutis Biotherapeutics, Inc. has a 1-year low of $13.06 and a 1-year high of $31.77.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its earnings results on Wednesday, May 6th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.07). The firm had revenue of $105.40 million during the quarter, compared to analyst estimates of $103.68 million. Arcutis Biotherapeutics had a negative net margin of 0.57% and a negative return on equity of 1.41%. Equities research analysts expect that Arcutis Biotherapeutics, Inc. will post 0.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Large investors have recently added to or reduced their stakes in the business. Zevenbergen Capital Investments LLC purchased a new stake in Arcutis Biotherapeutics during the 4th quarter worth approximately $12,140,000. UBS Group AG increased its stake in Arcutis Biotherapeutics by 10.0% during the 4th quarter. UBS Group AG now owns 3,243,432 shares of the company’s stock worth $94,189,000 after buying an additional 294,994 shares during the period. Nordea Investment Management AB purchased a new stake in Arcutis Biotherapeutics during the 4th quarter worth approximately $5,850,000. Ally Bridge Group NY LLC purchased a new stake in Arcutis Biotherapeutics during the 3rd quarter worth approximately $4,396,000. Finally, Tudor Investment Corp ET AL purchased a new stake in Arcutis Biotherapeutics during the 3rd quarter worth approximately $1,319,000.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Wall Street Zen lowered shares of Arcutis Biotherapeutics from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. TD Cowen upped their price objective on shares of Arcutis Biotherapeutics from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. HC Wainwright upped their price objective on shares of Arcutis Biotherapeutics from $30.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Guggenheim upped their price objective on shares of Arcutis Biotherapeutics from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Finally, Needham & Company LLC restated a “buy” rating and issued a $36.00 price objective on shares of Arcutis Biotherapeutics in a report on Thursday, May 7th. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $34.00.

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.