Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Insider Masaru Matsuda Sells 1,775 Shares

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Masaru Matsuda sold 1,775 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $9.68, for a total value of $17,182.00. Following the completion of the sale, the insider now directly owns 181,373 shares in the company, valued at approximately $1,755,690.64. The trade was a 0.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Masaru Matsuda also recently made the following trade(s):

• On Monday, November 4th, Masaru Matsuda sold 5,015 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $8.68, for a total value of $43,530.20.

Arcutis Biotherapeutics Trading Up 7.0 %

Shares of NASDAQ:ARQT traded up $0.66 during midday trading on Tuesday, reaching $10.09. The company’s stock had a trading volume of 1,883,767 shares, compared to its average volume of 3,232,942. The business has a 50 day moving average price of $9.58 and a 200 day moving average price of $9.39. Arcutis Biotherapeutics, Inc. has a 1 year low of $1.76 and a 1 year high of $13.17. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of -5.64 and a beta of 1.18. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.09. The company had revenue of $44.76 million during the quarter, compared to analysts’ expectations of $38.05 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. Research analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.34 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently commented on ARQT shares. Jefferies Financial Group began coverage on Arcutis Biotherapeutics in a research note on Wednesday, August 28th. They set a “buy” rating and a $15.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and set a $18.00 price target on shares of Arcutis Biotherapeutics in a report on Thursday, November 7th.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. ProShare Advisors LLC boosted its holdings in shares of Arcutis Biotherapeutics by 9.8% in the 1st quarter. ProShare Advisors LLC now owns 20,990 shares of the company’s stock valued at $208,000 after purchasing an additional 1,870 shares during the last quarter. Vanguard Group Inc. boosted its holdings 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 acquiring an additional 269,904 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings 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 acquiring an additional 2,800 shares during the last quarter. PEAK6 Investments LLC grew its position in Arcutis Biotherapeutics by 50.0% during the first quarter. PEAK6 Investments LLC now owns 30,000 shares of the company’s stock valued at $297,000 after acquiring an additional 10,000 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in Arcutis Biotherapeutics by 3.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 47,753 shares of the company’s stock worth $474,000 after acquiring an additional 1,681 shares during the last quarter.

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.