Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Insider Sells $43,530.20 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQTGet Free Report) insider Masaru Matsuda sold 5,015 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $8.68, for a total transaction of $43,530.20. Following the completion of the transaction, the insider now directly owns 178,273 shares in the company, valued at $1,547,409.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Arcutis Biotherapeutics Trading Up 7.7 %

ARQT opened at $10.40 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 8.46 and a quick ratio of 8.19. The company’s 50 day simple moving average is $9.67 and its two-hundred day simple moving average is $9.30. Arcutis Biotherapeutics, Inc. has a 1-year low of $1.76 and a 1-year high of $13.17. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of -4.75 and a beta of 1.18.

Arcutis Biotherapeutics (NASDAQ:ARQTGet Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.09. The business had revenue of $44.76 million during the quarter, compared to the consensus estimate of $38.05 million. Arcutis Biotherapeutics had a negative net margin of 150.51% and a negative return on equity of 145.41%. Analysts expect that Arcutis Biotherapeutics, Inc. will post -1.6 EPS for the current fiscal year.

Institutional Trading of Arcutis Biotherapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in ARQT. SG Americas Securities LLC increased its holdings in Arcutis Biotherapeutics by 531.2% in the 2nd quarter. SG Americas Securities LLC now owns 99,161 shares of the company’s stock valued at $922,000 after purchasing an additional 83,452 shares during the last quarter. Vanguard Group Inc. increased its holdings in Arcutis Biotherapeutics by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 5,166,417 shares of the company’s stock valued at $51,199,000 after purchasing an additional 269,904 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Arcutis Biotherapeutics in the 1st quarter valued at approximately $1,194,000. Wesbanco Bank Inc. acquired a new stake in Arcutis Biotherapeutics in the 3rd quarter valued at approximately $955,000. Finally, AMI Asset Management Corp increased its holdings in Arcutis Biotherapeutics by 36.2% in the 3rd quarter. AMI Asset Management Corp now owns 223,681 shares of the company’s stock valued at $2,080,000 after purchasing an additional 59,487 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Jefferies Financial Group initiated coverage on shares of Arcutis Biotherapeutics in a research note on Wednesday, August 28th. They issued a “buy” rating and a $15.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and issued a $18.00 target price on shares of Arcutis Biotherapeutics in a research note on Thursday. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Arcutis Biotherapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.40.

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About Arcutis Biotherapeutics

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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.

Further Reading

Insider Buying and Selling by Quarter for Arcutis Biotherapeutics (NASDAQ:ARQT)

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