Arcutis Biotherapeutics (NASDAQ:ARQT) Insider Masaru Matsuda Sells 9,989 Shares of Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Masaru Matsuda sold 9,989 shares of Arcutis Biotherapeutics stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $25.03, for a total value of $250,024.67. Following the completion of the sale, the insider directly owned 116,182 shares of the company’s stock, valued at approximately $2,908,035.46. This represents a 7.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Masaru Matsuda also recently made the following trade(s):

• On Monday, August 3rd, Masaru Matsuda sold 1,230 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $26.12, for a total value of $32,127.60.

Arcutis Biotherapeutics Stock Performance

NASDAQ ARQT opened at $23.38 on Friday. The business’s 50-day moving average price is $26.16 and its 200 day moving average price is $24.45. Arcutis Biotherapeutics, Inc. has a twelve month low of $16.57 and a twelve month high of $31.77. The company has a market capitalization of $2.94 billion, a PE ratio of 111.34 and a beta of 1.50. The company has a current ratio of 2.92, a quick ratio of 2.67 and a debt-to-equity ratio of 0.46.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.06 by $0.05. Arcutis Biotherapeutics had a return on equity of 15.05% and a net margin of 6.15%.The company had revenue of $129.86 million during the quarter, compared to analysts’ expectations of $118.85 million. On average, research analysts predict that Arcutis Biotherapeutics, Inc. will post 0.4 earnings per share for the current year.

Institutional Trading of Arcutis Biotherapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of ARQT. AQR Capital Management LLC lifted its position in Arcutis Biotherapeutics by 21.4% during the first quarter. AQR Capital Management LLC now owns 248,196 shares of the company’s stock valued at $3,882,000 after buying an additional 43,716 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Arcutis Biotherapeutics by 3.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,417 shares of the company’s stock worth $1,118,000 after acquiring an additional 2,063 shares in the last quarter. Creative Planning increased its position in shares of Arcutis Biotherapeutics by 8.2% in the second quarter. Creative Planning now owns 19,575 shares of the company’s stock worth $274,000 after acquiring an additional 1,477 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Arcutis Biotherapeutics by 1.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 548,789 shares of the company’s stock valued at $7,694,000 after acquiring an additional 5,407 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Arcutis Biotherapeutics by 4,562.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 11,190 shares of the company’s stock valued at $157,000 after acquiring an additional 10,950 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ARQT shares. Needham & Company LLC boosted their target price on shares of Arcutis Biotherapeutics from $36.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Morgan Stanley increased their price target on shares of Arcutis Biotherapeutics from $34.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Wall Street Zen raised shares of Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Guggenheim upped their price objective on Arcutis Biotherapeutics from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Weiss Ratings downgraded Arcutis Biotherapeutics from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $35.57.

About Arcutis Biotherapeutics

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.