Masaru Matsuda Sells 8,338 Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Masaru Matsuda sold 8,338 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $12.70, for a total value of $105,892.60. Following the transaction, the insider now owns 178,692 shares in the company, valued at $2,269,388.40. This trade represents a 4.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, November 19th, Masaru Matsuda sold 1,775 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $9.68, for a total transaction of $17,182.00.

Arcutis Biotherapeutics Stock Performance

Shares of Arcutis Biotherapeutics stock opened at $13.18 on Thursday. The firm has a market cap of $1.54 billion, a PE ratio of -7.36 and a beta of 1.29. 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, Inc. has a 52 week low of $5.38 and a 52 week high of $16.20. The business’s fifty day simple moving average is $13.67 and its 200-day simple moving average is $11.11.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its earnings results on Wednesday, November 6th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.09. The company had revenue of $44.76 million during the quarter, compared to analyst estimates of $38.05 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. Equities analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current year.

Wall Street Analyst Weigh In

ARQT has been the subject of several research reports. Needham & Company LLC reiterated a “buy” rating and set a $18.00 price target on shares of Arcutis Biotherapeutics in a research report on Thursday, November 7th. Mizuho boosted their price target on shares of Arcutis Biotherapeutics from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Tuesday, January 7th. Finally, HC Wainwright restated a “buy” rating and set a $19.00 price objective on shares of Arcutis Biotherapeutics in a research report on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.60.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Several large investors have recently made changes to their positions in ARQT. Venturi Wealth Management LLC purchased a new stake in Arcutis Biotherapeutics in the fourth quarter valued at approximately $46,000. Rhumbline Advisers raised its holdings in shares of Arcutis Biotherapeutics by 2.8% in the 4th quarter. Rhumbline Advisers now owns 168,052 shares of the company’s stock valued at $2,341,000 after buying an additional 4,598 shares during the period. Fishman Jay A Ltd. MI lifted its stake in Arcutis Biotherapeutics by 28.3% during the 4th quarter. Fishman Jay A Ltd. MI now owns 536,400 shares of the company’s stock worth $7,472,000 after acquiring an additional 118,400 shares in the last quarter. Jennison Associates LLC lifted its stake in Arcutis Biotherapeutics by 5.8% during the 4th quarter. Jennison Associates LLC now owns 12,339,792 shares of the company’s stock worth $171,893,000 after acquiring an additional 676,295 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its position in Arcutis Biotherapeutics by 10.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 24,818 shares of the company’s stock valued at $346,000 after acquiring an additional 2,336 shares in the last quarter.

Arcutis Biotherapeutics Company Profile

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.