Insider Selling: Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Sells 10,000 Shares of Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Howard G. Welgus sold 10,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $12.51, for a total transaction of $125,100.00. Following the sale, the director now directly owns 161,944 shares of the company’s stock, valued at $2,025,919.44. The trade was a 5.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Arcutis Biotherapeutics Stock Performance

Shares of NASDAQ:ARQT traded down $0.15 during trading on Tuesday, hitting $12.27. 1,356,354 shares of the stock traded hands, compared to its average volume of 3,178,053. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38. Arcutis Biotherapeutics, Inc. has a 52-week low of $1.89 and a 52-week high of $13.50. The company has a fifty day moving average price of $9.77 and a two-hundred day moving average price of $9.59.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $38.05 million. On average, analysts predict that Arcutis Biotherapeutics, Inc. will post -1.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ARQT shares. Needham & Company LLC restated a “buy” rating and issued a $18.00 target price on shares of Arcutis Biotherapeutics in a report on Thursday, November 7th. 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 target price on the stock.

Institutional Trading of Arcutis Biotherapeutics

Hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. increased its stake in shares of Arcutis Biotherapeutics by 9.9% during the 3rd quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock worth $119,000 after purchasing an additional 1,155 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Arcutis Biotherapeutics by 3.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 47,753 shares of the company’s stock valued at $474,000 after acquiring an additional 1,681 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Arcutis Biotherapeutics during the third quarter valued at $25,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Arcutis Biotherapeutics by 1.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 276,691 shares of the company’s stock valued at $2,573,000 after purchasing an additional 2,912 shares during the last quarter. Finally, 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 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.