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

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Howard G. Welgus sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $8.65, for a total value of $86,500.00. Following the sale, the director now owns 171,944 shares in the company, valued at $1,487,315.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Arcutis Biotherapeutics Stock Up 3.9 %

ARQT stock opened at $9.66 on Thursday. The firm has a market cap of $1.13 billion, a PE ratio of -4.41 and a beta of 1.18. The company has a debt-to-equity ratio of 1.09, a quick ratio of 8.19 and a current ratio of 8.46. The firm’s 50 day moving average price is $9.68 and its 200-day moving average price is $9.29. Arcutis Biotherapeutics, Inc. has a one year low of $1.76 and a one year high of $13.17.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its earnings results on Wednesday, August 14th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.06. The company had revenue of $30.86 million for the quarter, compared to analyst estimates of $31.00 million. Arcutis Biotherapeutics had a negative return on equity of 145.41% and a negative net margin of 150.51%. During the same quarter in the previous year, the company earned ($1.16) earnings per share. On average, equities research analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.6 EPS for the current year.

Institutional Trading of Arcutis Biotherapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its position in Arcutis Biotherapeutics by 9.9% in the third quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock valued at $119,000 after purchasing an additional 1,155 shares during the period. GSA Capital Partners LLP raised its position in Arcutis Biotherapeutics by 730.0% in the third quarter. GSA Capital Partners LLP now owns 237,174 shares of the company’s stock valued at $2,206,000 after purchasing an additional 208,599 shares during the period. AMI Asset Management Corp raised its position in Arcutis Biotherapeutics by 36.2% in the third 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 period. China Universal Asset Management Co. Ltd. raised its position in Arcutis Biotherapeutics by 65.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 22,482 shares of the company’s stock valued at $209,000 after purchasing an additional 8,881 shares during the period. Finally, abrdn plc increased its position in shares of Arcutis Biotherapeutics by 223.8% during the third quarter. abrdn plc now owns 482,074 shares of the company’s stock worth $4,483,000 after acquiring an additional 333,200 shares during the period.

Wall Street Analyst Weigh In

ARQT has been the topic of a number of analyst reports. Jefferies Financial Group initiated coverage on Arcutis Biotherapeutics in a research report on Wednesday, August 28th. They set a “buy” rating and a $15.00 target price on the stock. Needham & Company LLC restated a “buy” rating and set a $18.00 target price on shares of Arcutis Biotherapeutics in a research report on Thursday, August 15th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Arcutis Biotherapeutics currently has a consensus rating of “Moderate Buy” and an average price target 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.