Insider Selling: Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Sells $92,600.00 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Howard G. Welgus sold 10,000 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $9.26, for a total transaction of $92,600.00. Following the completion of the sale, the director now owns 181,944 shares of the company’s stock, valued at $1,684,801.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Arcutis Biotherapeutics Stock Performance

NASDAQ:ARQT opened at $10.02 on Friday. The firm’s 50-day moving average is $9.81 and its 200-day moving average is $9.49. The company has a market cap of $1.16 billion, a price-to-earnings ratio of -3.42 and a beta of 1.17. The company has a debt-to-equity ratio of 1.09, a quick ratio of 8.19 and a current ratio of 8.46. Arcutis Biotherapeutics, Inc. has a 52-week low of $1.76 and a 52-week high of $13.17.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.48) by $0.06. The firm had revenue of $30.86 million during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm posted ($1.16) EPS. Equities research analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on ARQT shares. Needham & Company LLC reissued a “buy” rating and set a $18.00 target price on shares of Arcutis Biotherapeutics in a research report on Thursday, August 15th. Jefferies Financial Group began coverage on Arcutis Biotherapeutics in a report on Wednesday, August 28th. They issued a “buy” rating and a $15.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $13.33.

Hedge Funds Weigh In On Arcutis Biotherapeutics

A number of hedge funds have recently made changes to their positions in the business. Jennison Associates LLC lifted its stake in Arcutis Biotherapeutics by 34.3% during the first quarter. Jennison Associates LLC now owns 12,176,315 shares of the company’s stock worth $120,667,000 after purchasing an additional 3,110,233 shares during the period. Rubric Capital Management LP grew its position in Arcutis Biotherapeutics by 30.7% in the second 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 during the period. Frazier Life Sciences Management L.P. raised its stake in Arcutis Biotherapeutics by 0.9% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 8,764,232 shares of the company’s stock worth $28,308,000 after acquiring an additional 80,000 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Arcutis Biotherapeutics by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 5,166,417 shares of the company’s stock valued at $51,199,000 after purchasing an additional 269,904 shares during the last quarter. Finally, Vestal Point Capital LP acquired a new position in Arcutis Biotherapeutics in the fourth quarter valued at about $8,721,000.

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.