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

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Howard G. Welgus sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $12.51, for a total value of $125,100.00. Following the completion of the sale, the director now owns 161,944 shares of the company’s stock, valued at $2,025,919.44. This trade represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Arcutis Biotherapeutics Price Performance

NASDAQ:ARQT traded down $0.15 during trading hours on Tuesday, reaching $12.27. The company’s stock had a trading volume of 1,356,354 shares, compared to its average volume of 3,178,053. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67. Arcutis Biotherapeutics, Inc. has a one year low of $1.89 and a one year high of $13.50. The business’s 50-day moving average is $9.77 and its 200-day moving average is $9.59.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.09. The business had revenue of $44.76 million for 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 anticipate that Arcutis Biotherapeutics, Inc. will post -1.34 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ARQT. Suvretta Capital Management LLC increased its stake in Arcutis Biotherapeutics by 7.2% in the third quarter. Suvretta Capital Management LLC now owns 10,721,511 shares of the company’s stock valued at $99,710,000 after purchasing an additional 717,019 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Arcutis Biotherapeutics by 531.2% during the second quarter. SG Americas Securities LLC now owns 99,161 shares of the company’s stock worth $922,000 after buying an additional 83,452 shares during the period. Vanguard Group Inc. grew its holdings in shares of Arcutis Biotherapeutics by 5.5% during the first quarter. Vanguard Group Inc. now owns 5,166,417 shares of the company’s stock worth $51,199,000 after buying an additional 269,904 shares in the last quarter. GSA Capital Partners LLP lifted its stake in Arcutis Biotherapeutics by 730.0% in the 3rd quarter. GSA Capital Partners LLP now owns 237,174 shares of the company’s stock valued at $2,206,000 after acquiring an additional 208,599 shares in the last quarter. Finally, Wesbanco Bank Inc. acquired a new position in shares of Arcutis Biotherapeutics during the 3rd quarter worth about $955,000.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ARQT. Needham & Company LLC reissued 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 initiated coverage on Arcutis Biotherapeutics in a research note on Wednesday, August 28th. They set a “buy” rating and a $15.00 price objective for the company.

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.