Terrie Curran Sells 8,687 Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Terrie Curran sold 8,687 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $10.85, for a total value of $94,253.95. Following the transaction, the director now owns 10,139 shares in the company, valued at $110,008.15. This trade represents a 46.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Arcutis Biotherapeutics Stock Performance

Shares of ARQT stock opened at $9.93 on Friday. The stock’s fifty day moving average is $9.65 and its two-hundred day moving average is $9.36. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46. Arcutis Biotherapeutics, Inc. has a fifty-two week low of $1.76 and a fifty-two week high of $13.17.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.09. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. The company had revenue of $44.76 million for the quarter, compared to analyst estimates of $38.05 million. As a group, research analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ARQT. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Arcutis Biotherapeutics during the 1st quarter valued at about $469,000. ProShare Advisors LLC lifted its position in Arcutis Biotherapeutics by 9.8% in the first quarter. ProShare Advisors LLC now owns 20,990 shares of the company’s stock valued at $208,000 after buying an additional 1,870 shares during the last quarter. Koshinski Asset Management Inc. acquired a new position in Arcutis Biotherapeutics in the first quarter valued at about $198,000. Vanguard Group Inc. lifted its position in Arcutis Biotherapeutics by 5.5% in the first quarter. Vanguard Group Inc. now owns 5,166,417 shares of the company’s stock valued at $51,199,000 after buying an additional 269,904 shares during the last quarter. Finally, Ameritas Investment Partners Inc. lifted its position in Arcutis Biotherapeutics by 55.2% in the first quarter. Ameritas Investment Partners Inc. now owns 7,871 shares of the company’s stock valued at $78,000 after buying an additional 2,800 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ARQT. Needham & Company LLC reiterated a “buy” rating and set a $18.00 target price on shares of Arcutis Biotherapeutics in a research report on Thursday, November 7th. Jefferies Financial Group began 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.

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.