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

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) 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:ARQT) 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.

About Arcutis Biotherapeutics

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.