Arcutis Biotherapeutics (NASDAQ:ARQT) Director Howard Welgus Sells 635 Shares

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Howard Welgus sold 635 shares of Arcutis Biotherapeutics stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $25.67, for a total value of $16,300.45. Following the sale, the director owned 37,743 shares of the company’s stock, valued at approximately $968,862.81. This trade represents a 1.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Arcutis Biotherapeutics Stock Performance

Shares of ARQT opened at $26.22 on Thursday. The company has a market cap of $3.28 billion, a PE ratio of -873.71 and a beta of 1.51. The company has a current ratio of 2.68, a quick ratio of 2.46 and a debt-to-equity ratio of 0.54. The stock has a 50-day moving average price of $22.68 and a 200-day moving average price of $25.15. Arcutis Biotherapeutics, Inc. has a 12-month low of $13.06 and a 12-month high of $31.77.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). The business had revenue of $105.40 million for the quarter, compared to the consensus estimate of $103.68 million. Arcutis Biotherapeutics had a negative net margin of 0.57% and a negative return on equity of 1.41%. As a group, equities analysts forecast that Arcutis Biotherapeutics, Inc. will post 0.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ARQT has been the subject of a number of research analyst reports. Mizuho dropped their price target on Arcutis Biotherapeutics from $37.00 to $35.00 and set an “outperform” rating for the company in a research report on Monday, March 2nd. Wall Street Zen downgraded Arcutis Biotherapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. HC Wainwright lifted their price target on Arcutis Biotherapeutics from $30.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Guggenheim boosted their target price on Arcutis Biotherapeutics from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Finally, TD Cowen boosted their target price on Arcutis Biotherapeutics from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Arcutis Biotherapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

Institutional Trading of Arcutis Biotherapeutics

Hedge funds have recently bought and sold shares of the company. SBI Securities Co. Ltd. lifted its position in Arcutis Biotherapeutics by 325.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,089 shares of the company’s stock worth $32,000 after buying an additional 833 shares during the last quarter. Global Retirement Partners LLC bought a new stake in Arcutis Biotherapeutics in the 4th quarter worth approximately $35,000. EverSource Wealth Advisors LLC lifted its position in Arcutis Biotherapeutics by 124.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the company’s stock worth $37,000 after buying an additional 698 shares during the last quarter. NewEdge Advisors LLC lifted its position in Arcutis Biotherapeutics by 209.0% in the 4th quarter. NewEdge Advisors LLC now owns 1,545 shares of the company’s stock worth $45,000 after buying an additional 1,045 shares during the last quarter. Finally, Truvestments Capital LLC lifted its position in Arcutis Biotherapeutics by 114.2% in the 4th quarter. Truvestments Capital LLC now owns 3,012 shares of the company’s stock worth $87,000 after buying an additional 1,606 shares during the last quarter.

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.