Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Insider Patrick Burnett Sells 16,023 Shares

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Patrick Burnett sold 16,023 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $10.14, for a total transaction of $162,473.22. Following the sale, the insider now owns 128,669 shares of the company’s stock, valued at $1,304,703.66. This trade represents a 11.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.

Patrick Burnett also recently made the following trade(s):

• On Friday, November 15th, Patrick Burnett sold 100 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $10.03, for a total value of $1,003.00.

Arcutis Biotherapeutics Stock Up 1.7 %

ARQT stock opened at $11.71 on Friday. The stock has a market cap of $1.37 billion, a P/E ratio of -6.54 and a beta of 1.18. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67. The stock’s fifty day simple moving average is $9.62 and its two-hundred day simple moving average is $9.50. Arcutis Biotherapeutics, Inc. has a 1-year low of $1.76 and a 1-year high of $13.17.

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

Analyst Ratings Changes

ARQT has been the subject of several recent research reports. 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. Jefferies Financial Group assumed coverage on shares of Arcutis Biotherapeutics in a research report on Wednesday, August 28th. They set a “buy” rating and a $15.00 price target on the stock.

Institutional Trading of Arcutis Biotherapeutics

Large investors have recently bought and sold shares of the company. Geode Capital Management LLC increased its holdings in Arcutis Biotherapeutics by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,470,138 shares of the company’s stock worth $22,977,000 after acquiring an additional 48,868 shares during the last quarter. Barclays PLC boosted its position in Arcutis Biotherapeutics by 45.8% during the third quarter. Barclays PLC now owns 253,392 shares of the company’s stock worth $2,356,000 after purchasing an additional 79,579 shares during the period. XTX Topco Ltd increased its stake in shares of Arcutis Biotherapeutics by 30.9% in the third quarter. XTX Topco Ltd now owns 47,728 shares of the company’s stock worth $444,000 after purchasing an additional 11,262 shares in the last quarter. State Street Corp raised its position in shares of Arcutis Biotherapeutics by 9.9% in the third quarter. State Street Corp now owns 5,641,631 shares of the company’s stock valued at $52,467,000 after purchasing an additional 506,788 shares during the period. Finally, Point72 DIFC Ltd purchased a new stake in shares of Arcutis Biotherapeutics during the 3rd quarter valued at approximately $25,000.

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.