Arcutis Biotherapeutics (NASDAQ:ARQT) Trading Down 3.2% – Time to Sell?

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) fell 3.2% on Friday . The stock traded as low as $9.17 and last traded at $9.19. 627,943 shares changed hands during trading, a decline of 81% from the average session volume of 3,320,477 shares. The stock had previously closed at $9.49.

Analysts Set New Price Targets

Several research firms have recently weighed in on ARQT. Jefferies Financial Group started coverage on Arcutis Biotherapeutics in a research report on Wednesday, August 28th. They set a “buy” rating and a $15.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and set a $18.00 price target on shares of Arcutis Biotherapeutics in a research report on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $13.33.

Arcutis Biotherapeutics Stock Performance

The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -3.16 and a beta of 1.17. The stock has a 50-day moving average price of $9.88 and a 200-day moving average price of $9.49. The company has a debt-to-equity ratio of 1.09, a current ratio of 8.46 and a quick ratio of 8.19.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.06. Arcutis Biotherapeutics had a negative return on equity of 145.41% and a negative net margin of 150.51%. The company had revenue of $30.86 million during the quarter, compared to analysts’ expectations of $31.00 million. During the same period last year, the firm posted ($1.16) earnings per share. As a group, analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.56 earnings per share for the current year.

Insider Transactions at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, insider Masaru Matsuda sold 5,220 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $9.02, for a total transaction of $47,084.40. Following the transaction, the insider now owns 183,288 shares in the company, valued at $1,653,257.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Masaru Matsuda sold 5,220 shares of Arcutis Biotherapeutics stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $9.02, for a total value of $47,084.40. Following the transaction, the insider now owns 183,288 shares in the company, valued at approximately $1,653,257.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO David Joseph Topper sold 11,626 shares of the firm’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $9.48, for a total value of $110,214.48. Following the sale, the chief financial officer now directly owns 158,374 shares in the company, valued at approximately $1,501,385.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,299 shares of company stock worth $507,911. Company insiders own 9.50% of the company’s stock.

Institutional Trading of Arcutis Biotherapeutics

Several institutional investors have recently modified their holdings of ARQT. Price T Rowe Associates Inc. MD lifted its stake in shares of Arcutis Biotherapeutics by 3.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 47,753 shares of the company’s stock worth $474,000 after acquiring an additional 1,681 shares during the period. ProShare Advisors LLC raised its holdings in Arcutis Biotherapeutics by 9.8% during the 1st quarter. ProShare Advisors LLC now owns 20,990 shares of the company’s stock worth $208,000 after purchasing an additional 1,870 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position in shares of Arcutis Biotherapeutics by 55.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 7,871 shares of the company’s stock worth $78,000 after purchasing an additional 2,800 shares during the period. CWM LLC boosted its stake in shares of Arcutis Biotherapeutics by 6,740.0% in the 2nd quarter. CWM LLC now owns 4,104 shares of the company’s stock valued at $38,000 after purchasing an additional 4,044 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its position in shares of Arcutis Biotherapeutics by 14.4% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 48,997 shares of the company’s stock worth $486,000 after buying an additional 6,155 shares during the period.

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.