Insider Selling: Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Sells 10,000 Shares of Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Howard G. Welgus sold 10,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.67, for a total transaction of $146,700.00. Following the transaction, the director now directly owns 151,944 shares of the company’s stock, valued at $2,229,018.48. This represents a 6.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ:ARQT opened at $15.27 on Thursday. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of -8.53 and a beta of 1.30. 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 business’s 50 day simple moving average is $12.13 and its 200-day simple moving average is $10.56. Arcutis Biotherapeutics, Inc. has a 12 month low of $3.11 and a 12 month high of $16.20.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its earnings results on Wednesday, November 6th. The company reported ($0.33) EPS 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 return on equity of 119.11% and a negative net margin of 140.97%. As a group, equities analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. HC Wainwright started coverage on Arcutis Biotherapeutics in a research report on Monday, December 30th. They set a “buy” rating and a $19.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price objective on shares of Arcutis Biotherapeutics in a report on Thursday, November 7th. Finally, Mizuho raised their target price on Arcutis Biotherapeutics from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Tuesday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $16.60.

Institutional Investors Weigh In On Arcutis Biotherapeutics

A number of large investors have recently added to or reduced their stakes in ARQT. Point72 DIFC Ltd acquired a new position in Arcutis Biotherapeutics during the third quarter worth about $25,000. Algert Global LLC purchased a new position in shares of Arcutis Biotherapeutics during the 2nd quarter worth approximately $97,000. Erste Asset Management GmbH acquired a new position in shares of Arcutis Biotherapeutics during the 3rd quarter worth approximately $104,000. Victory Capital Management Inc. lifted its stake in Arcutis Biotherapeutics by 9.9% in the 3rd quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock valued at $119,000 after buying an additional 1,155 shares in the last quarter. Finally, Creative Planning acquired a new stake in Arcutis Biotherapeutics during the 3rd quarter valued at $127,000.

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.