Insider Selling: Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Insider Sells 1,200 Shares of Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Todd Franklin Watanabe sold 1,200 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $17.61, for a total transaction of $21,132.00. Following the completion of the sale, the insider now directly owns 928,914 shares in the company, valued at $16,358,175.54. This represents a 0.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Todd Franklin Watanabe also recently made the following trade(s):

• On Friday, December 20th, Todd Franklin Watanabe sold 15,000 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $15.17, for a total transaction of $227,550.00.

Arcutis Biotherapeutics Price Performance

Shares of ARQT opened at $17.01 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38. The company has a market cap of $2.02 billion, a P/E ratio of -9.50 and a beta of 1.48. Arcutis Biotherapeutics, Inc. has a 12 month low of $6.99 and a 12 month high of $17.70. The stock has a fifty day moving average price of $13.67 and a 200 day moving average price of $12.04.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.19. The business had revenue of $71.36 million for the quarter, compared to analysts’ expectations of $60.52 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. On average, research analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Guggenheim restated a “buy” rating on shares of Arcutis Biotherapeutics in a research note on Monday, February 24th. Needham & Company LLC reissued a “buy” rating and set a $20.00 price target on shares of Arcutis Biotherapeutics in a research report on Wednesday, February 26th. The Goldman Sachs Group lifted their price objective on shares of Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, February 27th. Mizuho increased their target price on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Finally, Jefferies Financial Group raised their price target on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Arcutis Biotherapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $18.80.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Large investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC bought a new position in Arcutis Biotherapeutics in the 4th quarter worth approximately $291,000. GF Fund Management CO. LTD. bought a new position in shares of Arcutis Biotherapeutics in the fourth quarter worth $34,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Arcutis Biotherapeutics by 1.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 280,100 shares of the company’s stock valued at $3,902,000 after purchasing an additional 3,409 shares during the period. Voloridge Investment Management LLC raised its stake in shares of Arcutis Biotherapeutics by 126.5% during the fourth quarter. Voloridge Investment Management LLC now owns 290,938 shares of the company’s stock valued at $4,053,000 after purchasing an additional 162,495 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its holdings in Arcutis Biotherapeutics by 67.2% in the fourth quarter. Squarepoint Ops LLC now owns 121,392 shares of the company’s stock worth $1,691,000 after purchasing an additional 48,769 shares during the period.

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.