Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Insider Sells 1,775 Shares of Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Masaru Matsuda sold 1,775 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $9.68, for a total transaction of $17,182.00. Following the completion of the transaction, the insider now owns 181,373 shares in the company, valued at $1,755,690.64. The trade was a 0.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, November 4th, Masaru Matsuda sold 5,015 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $8.68, for a total transaction of $43,530.20.

Arcutis Biotherapeutics Stock Performance

Shares of ARQT stock opened at $10.15 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46. The firm has a market cap of $1.19 billion, a P/E ratio of -5.76 and a beta of 1.18. The firm’s 50 day moving average price is $9.57 and its 200-day moving average price is $9.40. Arcutis Biotherapeutics, Inc. has a one year low of $1.76 and a one year high of $13.17.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its earnings results on Wednesday, November 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.09. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. The company had revenue of $44.76 million for the quarter, compared to analyst estimates of $38.05 million. As a group, equities research analysts predict that Arcutis Biotherapeutics, Inc. will post -1.34 EPS for the current year.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Several hedge funds have recently bought and sold shares of ARQT. Rubric Capital Management LP grew its position in Arcutis Biotherapeutics by 30.7% in the 2nd quarter. Rubric Capital Management LP now owns 9,816,672 shares of the company’s stock valued at $91,295,000 after acquiring an additional 2,306,672 shares in the last quarter. Farallon Capital Management LLC acquired a new position in shares of Arcutis Biotherapeutics in the first quarter valued at approximately $17,640,000. Candriam S.C.A. purchased a new stake in Arcutis Biotherapeutics during the 2nd quarter worth approximately $12,159,000. Perceptive Advisors LLC lifted its holdings in Arcutis Biotherapeutics by 107.8% during the 2nd quarter. Perceptive Advisors LLC now owns 1,558,500 shares of the company’s stock worth $14,494,000 after buying an additional 808,500 shares in the last quarter. Finally, Suvretta Capital Management LLC lifted its holdings in Arcutis Biotherapeutics by 7.2% during the 3rd quarter. Suvretta Capital Management LLC now owns 10,721,511 shares of the company’s stock worth $99,710,000 after buying an additional 717,019 shares in the last quarter.

Analysts Set New Price Targets

Several brokerages recently weighed in on ARQT. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price objective on shares of Arcutis Biotherapeutics in a research report on Thursday, November 7th. Jefferies Financial Group started coverage on Arcutis Biotherapeutics in a report on Wednesday, August 28th. They set a “buy” rating and a $15.00 price target for the company.

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.