Arcutis Biotherapeutics (NASDAQ:ARQT) Trading Down 9.4% – Should You Sell?

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) fell 9.4% during mid-day trading on Friday . The stock traded as low as $25.46 and last traded at $25.3250. 1,969,619 shares were traded during trading, an increase of 43% from the average session volume of 1,379,279 shares. The stock had previously closed at $27.95.

Analysts Set New Price Targets

ARQT has been the topic of several recent analyst reports. Zacks Research downgraded Arcutis Biotherapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a report on Monday, December 29th. Wall Street Zen downgraded shares of Arcutis Biotherapeutics from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 14th. The Goldman Sachs Group increased their target price on shares of Arcutis Biotherapeutics from $19.00 to $29.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Finally, Mizuho raised their target price on shares of Arcutis Biotherapeutics from $32.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, November 28th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Arcutis Biotherapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $29.20.

Arcutis Biotherapeutics Stock Performance

The company has a fifty day moving average price of $27.35 and a two-hundred day moving average price of $23.43. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of -70.61 and a beta of 1.70. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.50 and a quick ratio of 3.28.

Insider Activity at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, insider Todd Watanabe sold 48,945 shares of the company’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $30.36, for a total value of $1,485,970.20. Following the transaction, the insider owned 740,537 shares of the company’s stock, valued at approximately $22,482,703.32. This represents a 6.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Patrick Burnett sold 11,500 shares of the stock in a transaction on Monday, December 15th. The shares were sold at an average price of $28.94, for a total value of $332,810.00. Following the sale, the insider owned 98,307 shares of the company’s stock, valued at $2,845,004.58. This trade represents a 10.47% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 198,873 shares of company stock worth $5,576,208. Company insiders own 9.40% of the company’s stock.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Several hedge funds have recently modified their holdings of ARQT. Invesco Ltd. increased its stake in Arcutis Biotherapeutics by 59.3% in the 4th quarter. Invesco Ltd. now owns 307,382 shares of the company’s stock worth $8,926,000 after purchasing an additional 114,430 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in shares of Arcutis Biotherapeutics in the fourth quarter worth approximately $255,000. Mackenzie Financial Corp acquired a new stake in shares of Arcutis Biotherapeutics during the fourth quarter valued at approximately $1,374,000. NewEdge Advisors LLC lifted its position in shares of Arcutis Biotherapeutics by 209.0% in the 4th quarter. NewEdge Advisors LLC now owns 1,545 shares of the company’s stock valued at $45,000 after acquiring an additional 1,045 shares in the last quarter. Finally, XTX Topco Ltd boosted its stake in Arcutis Biotherapeutics by 557.9% in the 4th quarter. XTX Topco Ltd now owns 74,358 shares of the company’s stock worth $2,159,000 after purchasing an additional 63,055 shares during the period.

Arcutis Biotherapeutics Company Profile

Arcutis Biotherapeutics is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for immuno-inflammatory skin diseases. The company’s research and development efforts center on targeted treatments that address the underlying biology of conditions such as plaque psoriasis, atopic dermatitis, seborrheic dermatitis and vitiligo. Arcutis employs a precision-medicine approach to deliver topical therapies designed to improve efficacy and tolerability compared with existing treatment options.

In August 2022, Arcutis received U.S.