Insider Selling: Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Insider Sells 12,242 Shares of Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Patrick Burnett sold 12,242 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $15.04, for a total transaction of $184,119.68. Following the completion of the transaction, the insider now directly owns 121,936 shares of the company’s stock, valued at $1,833,917.44. This represents a 9.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Monday, March 3rd, Patrick Burnett sold 2,819 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $13.03, for a total transaction of $36,731.57.
• On Tuesday, December 31st, Patrick Burnett sold 1,691 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $14.00, for a total transaction of $23,674.00.

Arcutis Biotherapeutics Stock Down 3.3 %

Shares of NASDAQ ARQT opened at $15.87 on Wednesday. The firm’s 50-day moving average price is $13.55 and its 200-day moving average price is $11.92. 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 has a market capitalization of $1.88 billion, a price-to-earnings ratio of -8.87 and a beta of 1.48. Arcutis Biotherapeutics, Inc. has a 12-month low of $6.99 and a 12-month high of $17.70.

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

Institutional Trading of Arcutis Biotherapeutics

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

Analyst Ratings Changes

Several research analysts have commented on ARQT shares. The Goldman Sachs Group increased their price objective on shares of Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Thursday, February 27th. Jefferies Financial Group increased their price objective on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, March 11th. Guggenheim reissued a “buy” rating on shares of Arcutis Biotherapeutics in a report on Monday, February 24th. HC Wainwright reissued a “buy” rating and set a $19.00 price objective on shares of Arcutis Biotherapeutics in a report on Wednesday, February 26th. Finally, Needham & Company LLC reissued a “buy” rating and set a $20.00 price objective on shares of Arcutis Biotherapeutics in a report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $18.80.

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.