Insider Selling: Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Sells 10,000 Shares of Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Howard G. Welgus sold 10,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.67, for a total transaction of $146,700.00. Following the transaction, the director now owns 151,944 shares in the company, valued at $2,229,018.48. The trade was a 6.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Arcutis Biotherapeutics Stock Performance

Shares of Arcutis Biotherapeutics stock traded up $0.09 during trading hours on Monday, hitting $14.71. 1,363,419 shares of the company’s stock traded hands, compared to its average volume of 1,784,552. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of -8.22 and a beta of 1.30. Arcutis Biotherapeutics, Inc. has a 12-month low of $3.11 and a 12-month high of $15.79. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38. The company has a fifty day simple moving average of $11.86 and a 200-day simple moving average of $10.45.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.09. The business had revenue of $44.76 million for the quarter, compared to the consensus estimate of $38.05 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. Equities research analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.34 EPS for the current fiscal year.

Analyst Ratings Changes

ARQT has been the topic of a number of research analyst reports. HC Wainwright started coverage on shares of Arcutis Biotherapeutics in a research report on Monday, December 30th. They set a “buy” rating and a $19.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and issued a $18.00 price objective on shares of Arcutis Biotherapeutics in a research note on Thursday, November 7th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.20.

Hedge Funds Weigh In On Arcutis Biotherapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARQT. Point72 DIFC Ltd bought a new stake in shares of Arcutis Biotherapeutics in the third quarter valued at approximately $25,000. Algert Global LLC bought a new stake in Arcutis Biotherapeutics during the 2nd quarter valued at $97,000. Erste Asset Management GmbH purchased a new stake in shares of Arcutis Biotherapeutics during the third quarter worth $104,000. Victory Capital Management Inc. boosted its holdings in shares of Arcutis Biotherapeutics by 9.9% in the third quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock worth $119,000 after acquiring an additional 1,155 shares during the period. Finally, Creative Planning purchased a new position in shares of Arcutis Biotherapeutics in the third quarter valued at $127,000.

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.