David Joseph Topper Sells 11,626 Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) CFO David Joseph Topper sold 11,626 shares of the stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $9.48, for a total transaction of $110,214.48. Following the sale, the chief financial officer now owns 158,374 shares of the company’s stock, valued at approximately $1,501,385.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ:ARQT opened at $9.36 on Friday. The company has a quick ratio of 8.19, a current ratio of 8.46 and a debt-to-equity ratio of 1.09. The company has a market cap of $1.09 billion, a P/E ratio of -3.19 and a beta of 1.18. Arcutis Biotherapeutics, Inc. has a 52 week low of $1.76 and a 52 week high of $13.17. The company has a 50-day moving average price of $9.83 and a 200 day moving average price of $9.52.

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

Analyst Ratings Changes

ARQT has been the subject of several recent research reports. Needham & Company LLC reiterated a “buy” rating and set a $18.00 target price on shares of Arcutis Biotherapeutics in a research note on Thursday, August 15th. Jefferies Financial Group assumed 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. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $13.33.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Cape Investment Advisory Inc. acquired a new stake in shares of Arcutis Biotherapeutics in the fourth quarter valued at about $26,000. Cantor Fitzgerald L. P. purchased a new stake in shares of Arcutis Biotherapeutics during the 4th quarter worth approximately $33,000. Victory Capital Management Inc. acquired a new stake in shares of Arcutis Biotherapeutics in the 4th quarter worth approximately $34,000. CWM LLC increased its stake in 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 in the last quarter. Finally, Ameritas Investment Partners Inc. raised its holdings in Arcutis Biotherapeutics by 55.2% during the first 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 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.