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

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Howard G. Welgus sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $12.71, for a total value of $127,100.00. Following the completion of the transaction, the director now directly owns 141,944 shares of the company’s stock, valued at approximately $1,804,108.24. This trade represents a 6.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Arcutis Biotherapeutics Stock Down 5.8 %

NASDAQ ARQT opened at $12.42 on Friday. The firm has a market cap of $1.45 billion, a PE ratio of -6.94 and a beta of 1.29. Arcutis Biotherapeutics, Inc. has a one year low of $5.38 and a one year high of $16.20. The stock’s 50 day simple moving average is $13.68 and its 200 day simple moving average is $11.12. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly 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 business had revenue of $44.76 million for the quarter, compared to analyst estimates 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, sell-side analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ARQT shares. HC Wainwright reiterated a “buy” rating and issued a $19.00 price objective on shares of Arcutis Biotherapeutics in a research note on Monday, January 13th. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price objective on shares of Arcutis Biotherapeutics in a research note on Thursday, November 7th. Finally, Mizuho upped their price objective on Arcutis Biotherapeutics from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Tuesday, January 7th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.60.

Institutional Investors Weigh In On Arcutis Biotherapeutics

A number of large investors have recently bought and sold shares of ARQT. Rubric Capital Management LP increased its position in shares of Arcutis Biotherapeutics by 11.7% in the third quarter. Rubric Capital Management LP now owns 10,966,672 shares of the company’s stock valued at $101,990,000 after acquiring an additional 1,150,000 shares during the last quarter. Suvretta Capital Management LLC grew its position in shares of 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 during the last quarter. Jennison Associates LLC grew its position in Arcutis Biotherapeutics by 5.8% during the fourth quarter. Jennison Associates LLC now owns 12,339,792 shares of the company’s stock worth $171,893,000 after buying an additional 676,295 shares in the last quarter. State Street Corp grew its position in Arcutis Biotherapeutics by 9.9% during the third quarter. State Street Corp now owns 5,641,631 shares of the company’s stock worth $52,467,000 after buying an additional 506,788 shares in the last quarter. Finally, abrdn plc grew its position in Arcutis Biotherapeutics by 223.8% during the third quarter. abrdn plc now owns 482,074 shares of the company’s stock worth $4,483,000 after buying an additional 333,200 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.