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 company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $8.65, for a total value of $86,500.00. Following the completion of the transaction, the director now directly owns 171,944 shares in the company, valued at approximately $1,487,315.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Arcutis Biotherapeutics Stock Performance

NASDAQ ARQT opened at $9.30 on Wednesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 8.46 and a quick ratio of 8.19. The company has a market cap of $1.09 billion, a P/E ratio of -4.25 and a beta of 1.18. The stock has a 50-day moving average of $9.70 and a two-hundred day moving average of $9.29. Arcutis Biotherapeutics, Inc. has a 1-year low of $1.76 and a 1-year high of $13.17.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.48) by $0.06. Arcutis Biotherapeutics had a negative net margin of 150.51% and a negative return on equity of 145.41%. The business had revenue of $30.86 million during the quarter, compared to analyst estimates of $31.00 million. During the same quarter last year, the firm posted ($1.16) earnings per share. As a group, analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.6 EPS for the current year.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Several institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. raised its stake 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 valued at $119,000 after acquiring an additional 1,155 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Arcutis Biotherapeutics by 3.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 47,753 shares of the company’s stock worth $474,000 after purchasing an additional 1,681 shares during the period. ProShare Advisors LLC raised its position in Arcutis Biotherapeutics by 9.8% in the 1st quarter. ProShare Advisors LLC now owns 20,990 shares of the company’s stock valued at $208,000 after purchasing an additional 1,870 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake 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 valued at $78,000 after buying an additional 2,800 shares during the period. Finally, CWM LLC grew its position in shares of Arcutis Biotherapeutics by 6,740.0% during the second quarter. CWM LLC now owns 4,104 shares of the company’s stock worth $38,000 after buying an additional 4,044 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ARQT shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 target price on shares of Arcutis Biotherapeutics in a research report on Thursday, August 15th. Jefferies Financial Group initiated coverage on shares of Arcutis Biotherapeutics in a report on Wednesday, August 28th. They issued a “buy” rating and a $15.00 price objective on the stock. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $13.33.

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.