Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Howard G. Welgus Sells 10,000 Shares of Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Howard G. Welgus sold 10,000 shares of Arcutis Biotherapeutics stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $12.71, for a total transaction of $127,100.00. Following the completion of the sale, the director now owns 141,944 shares in the company, valued at approximately $1,804,108.24. This trade represents a 6.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Arcutis Biotherapeutics Stock Performance

Shares of ARQT stock opened at $13.10 on Wednesday. Arcutis Biotherapeutics, Inc. has a 12 month low of $5.38 and a 12 month high of $16.20. The stock has a market cap of $1.53 billion, a PE ratio of -7.32 and a beta of 1.29. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67. The company’s fifty day moving average price is $13.64 and its 200-day moving average price is $11.09.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.09. The firm had revenue of $44.76 million during the quarter, compared to analyst estimates of $38.05 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. On average, equities analysts expect that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on ARQT shares. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price target on shares of Arcutis Biotherapeutics in a report on Thursday, November 7th. Mizuho lifted their price target on shares of Arcutis Biotherapeutics from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Tuesday, January 7th. Finally, HC Wainwright restated a “buy” rating and set a $19.00 target price on shares of Arcutis Biotherapeutics in a report on Monday, January 13th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Arcutis Biotherapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $16.60.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Several large investors have recently modified their holdings of the stock. Victory Capital Management Inc. raised its position in shares of Arcutis Biotherapeutics by 9.9% in the 3rd quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock worth $119,000 after purchasing an additional 1,155 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of Arcutis Biotherapeutics by 10.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 24,818 shares of the company’s stock worth $346,000 after purchasing an additional 2,336 shares during the last quarter. Point72 DIFC Ltd purchased a new position in shares of Arcutis Biotherapeutics in the 3rd quarter worth about $25,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Arcutis Biotherapeutics by 1.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 276,691 shares of the company’s stock worth $2,573,000 after purchasing an additional 2,912 shares during the last quarter. Finally, Venturi Wealth Management LLC purchased a new position in shares of Arcutis Biotherapeutics in the 4th quarter worth about $46,000.

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.