Insider Selling: Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Sells $127,100.00 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Howard G. Welgus sold 10,000 shares of Arcutis Biotherapeutics stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $12.71, for a total value of $127,100.00. Following the transaction, the director now owns 141,944 shares in the company, valued at $1,804,108.24. This represents a 6.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Arcutis Biotherapeutics Price Performance

NASDAQ ARQT opened at $12.42 on Friday. Arcutis Biotherapeutics, Inc. has a twelve month low of $5.38 and a twelve month high of $16.20. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46. The stock has a market capitalization of $1.45 billion, a PE ratio of -6.94 and a beta of 1.29. The stock has a 50-day simple moving average of $13.68 and a 200 day simple moving average of $11.12.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.09. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. The business had revenue of $44.76 million during the quarter, compared to analysts’ expectations of $38.05 million. Research analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on ARQT. HC Wainwright restated a “buy” rating and issued a $19.00 target price on shares of Arcutis Biotherapeutics in a research note on Monday, January 13th. Needham & Company LLC reiterated a “buy” rating and set a $18.00 price target on shares of Arcutis Biotherapeutics in a research note on Thursday, November 7th. Finally, Mizuho upped their price target on Arcutis Biotherapeutics from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Arcutis Biotherapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $16.60.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Large investors have recently made changes to their positions in the business. Suvretta Capital Management LLC lifted its position in shares of Arcutis Biotherapeutics by 7.2% during the 3rd quarter. Suvretta Capital Management LLC now owns 10,721,511 shares of the company’s stock worth $99,710,000 after purchasing an additional 717,019 shares during the last quarter. GSA Capital Partners LLP raised its holdings in Arcutis Biotherapeutics by 730.0% in the 3rd quarter. GSA Capital Partners LLP now owns 237,174 shares of the company’s stock valued at $2,206,000 after acquiring an additional 208,599 shares in the last quarter. Rubric Capital Management LP raised its holdings in Arcutis Biotherapeutics by 11.7% in the 3rd quarter. Rubric Capital Management LP now owns 10,966,672 shares of the company’s stock valued at $101,990,000 after acquiring an additional 1,150,000 shares in the last quarter. Wesbanco Bank Inc. acquired a new position in Arcutis Biotherapeutics in the 3rd quarter valued at approximately $955,000. Finally, Algert Global LLC raised its holdings in Arcutis Biotherapeutics by 595.9% in the 3rd quarter. Algert Global LLC now owns 72,480 shares of the company’s stock valued at $674,000 after acquiring an additional 62,065 shares in the last quarter.

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.