Arcutis Biotherapeutics (NASDAQ:ARQT) EVP Masaru Matsuda Sells 1,219 Shares of Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) EVP Masaru Matsuda sold 1,219 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $31.86, for a total value of $38,837.34. Following the completion of the sale, the executive vice president directly owned 111,289 shares in the company, valued at approximately $3,545,667.54. The trade was a 1.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Wednesday, November 4th, Masaru Matsuda sold 40,000 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $34.32, for a total value of $1,372,800.00.
• On Wednesday, September 16th, Masaru Matsuda sold 3,674 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $25.00, for a total value of $91,850.00.
• On Tuesday, September 8th, Masaru Matsuda sold 9,989 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $25.03, for a total value of $250,024.67.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ:ARQT traded up $2.05 on Wednesday, hitting $34.05. The company had a trading volume of 2,654,353 shares, compared to its average volume of 1,836,721. 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, Inc. has a 52-week low of $19.30 and a 52-week high of $34.80. The business has a 50 day moving average of $26.93 and a 200 day moving average of $25.33. The company has a market cap of $4.28 billion, a PE ratio of 162.15 and a beta of 1.66.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.12). The company had revenue of $143.92 million for the quarter, compared to analyst estimates of $142.59 million. Arcutis Biotherapeutics had a net margin of 6.15% and a return on equity of 15.05%. As a group, equities analysts anticipate that Arcutis Biotherapeutics, Inc. will post 0.43 earnings per share for the current fiscal year.

More Arcutis Biotherapeutics News

Here are the key news stories impacting Arcutis Biotherapeutics this week:

• Positive Sentiment: Third-quarter revenue was $143.92 million, slightly above analysts’ $142.59 million estimate, providing a positive counterpoint to the earnings shortfall. MarketBeat earnings report
• Neutral Sentiment: Several executives sold shares to cover tax withholding on vested equity awards. Most sales were relatively small; EVP Masaru Matsuda also sold 40,000 shares under a pre-arranged Rule 10b5-1 plan, reducing his reported holdings by 26.44%. The stated tax-related and planned nature of the transactions makes them less clearly bearish, though the larger sale may draw investor attention. SEC insider filing
• Negative Sentiment: Adjusted quarterly earnings were $0.06 per share, below consensus estimates of approximately $0.17–$0.18 and unchanged from a year earlier. The miss could weigh on sentiment despite the revenue beat. Zacks earnings report

Hedge Funds Weigh In On Arcutis Biotherapeutics

Large investors have recently added to or reduced their stakes in the business. Pinnacle Wealth Planning Services Inc. purchased a new stake in Arcutis Biotherapeutics in the 3rd quarter valued at about $36,000. Nykredit A S purchased a new position in shares of Arcutis Biotherapeutics during the 2nd quarter worth about $63,000. Integrated Wealth Concepts LLC purchased a new position in shares of Arcutis Biotherapeutics during the 2nd quarter worth about $84,000. Sterling Capital Management LLC lifted its holdings in shares of Arcutis Biotherapeutics by 839.3% during the 3rd quarter. Sterling Capital Management LLC now owns 3,776 shares of the company’s stock worth $100,000 after acquiring an additional 3,374 shares during the period. Finally, KBC Group NV boosted its position in shares of Arcutis Biotherapeutics by 43.2% in the first quarter. KBC Group NV now owns 4,376 shares of the company’s stock worth $103,000 after acquiring an additional 1,321 shares during the last quarter.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Cantor Fitzgerald began coverage on shares of Arcutis Biotherapeutics in a research note on Thursday, October 15th. They set an “overweight” rating and a $48.00 price target on the stock. Morgan Stanley lifted their price target on shares of Arcutis Biotherapeutics from $34.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Guggenheim boosted their price objective on shares of Arcutis Biotherapeutics from $38.00 to $44.00 and gave the company a “buy” rating in a research report on Monday, October 19th. Weiss Ratings raised shares of Arcutis Biotherapeutics from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 29th. Finally, Needham & Company LLC upped their price objective on shares of Arcutis Biotherapeutics from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $39.12.

Arcutis Biotherapeutics Company Profile

Arcutis Biotherapeutics, Inc is a commercial-stage biopharmaceutical company focused on developing and delivering treatments for dermatologic conditions. The company’s portfolio is centered on therapies designed to address inflammatory skin diseases, with an emphasis on nonsteroidal topical medicines that may help patients manage chronic conditions.

Arcutis’s lead product is ZORYVE (roflumilast), a topical phosphodiesterase-4 inhibitor. ZORYVE has received U.S. Food and Drug Administration approvals for multiple dermatological uses, including plaque psoriasis, seborrheic dermatitis and atopic dermatitis, in different cream and foam formulations.