Larry Todd Edwards Sells 3,725 Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) SVP Larry Todd Edwards sold 3,725 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $10.01, for a total value of $37,287.25. Following the transaction, the senior vice president now directly owns 136,635 shares in the company, valued at $1,367,716.35. 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 accessible through this link.

Arcutis Biotherapeutics Stock Down 1.5 %

ARQT opened at $10.02 on Friday. The stock’s fifty day simple moving average is $9.81 and its 200 day simple moving average is $9.50. Arcutis Biotherapeutics, Inc. has a 1-year low of $1.76 and a 1-year high of $13.17. The stock has a market cap of $1.16 billion, a PE ratio of -3.42 and a beta of 1.17. The company has a current ratio of 8.46, a quick ratio of 8.19 and a debt-to-equity ratio of 1.09.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its earnings results on Wednesday, August 14th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $30.86 million during the quarter, compared to analysts’ expectations of $31.00 million. During the same quarter last year, the company posted ($1.16) EPS. As a group, research analysts expect that Arcutis Biotherapeutics, Inc. will post -1.56 earnings per share for the current year.

Institutional Investors Weigh In On Arcutis Biotherapeutics

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $18.00 target price on shares of Arcutis Biotherapeutics in a report on Thursday, August 15th. Jefferies Financial Group assumed coverage on shares of Arcutis Biotherapeutics in a research report on Wednesday, August 28th. They issued a “buy” rating and a $15.00 price objective for the company. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently 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.