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 firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $13.00, for a total value of $130,000.00. Following the completion of the sale, the director now owns 131,944 shares of the company’s stock, valued at approximately $1,715,272. This trade represents a 7.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Arcutis Biotherapeutics Price Performance

Shares of ARQT opened at $14.78 on Thursday. 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 1 year low of $6.99 and a 1 year high of $16.20. The stock has a market cap of $1.75 billion, a P/E ratio of -8.26 and a beta of 1.48. The stock’s 50-day moving average price is $13.46 and its two-hundred day moving average price is $11.55.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.19. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. The firm had revenue of $71.36 million for the quarter, compared to analysts’ expectations of $60.52 million. On average, equities analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current year.

Hedge Funds Weigh In On Arcutis Biotherapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARQT. Point72 DIFC Ltd bought a new position in Arcutis Biotherapeutics during the third quarter worth about $25,000. GF Fund Management CO. LTD. bought a new position in shares of Arcutis Biotherapeutics during the 4th quarter valued at about $34,000. Venturi Wealth Management LLC bought a new position in shares of Arcutis Biotherapeutics during the 4th quarter valued at about $46,000. Erste Asset Management GmbH bought a new position in shares of Arcutis Biotherapeutics during the 3rd quarter valued at about $104,000. Finally, Victory Capital Management Inc. lifted its holdings in shares of Arcutis Biotherapeutics by 9.9% during the 3rd quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock valued at $119,000 after purchasing an additional 1,155 shares in the last quarter.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Guggenheim restated a “buy” rating on shares of Arcutis Biotherapeutics in a research note on Monday, February 24th. Mizuho lifted their price objective on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price objective on shares of Arcutis Biotherapeutics in a research report on Wednesday, February 26th. HC Wainwright reiterated a “buy” rating and issued a $19.00 price objective on shares of Arcutis Biotherapeutics in a research report on Wednesday, February 26th. Finally, The Goldman Sachs Group lifted their price objective on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

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.