Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) SVP Larry Todd Edwards Sells 3,725 Shares

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) SVP Larry Todd Edwards sold 3,725 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $10.01, for a total transaction of $37,287.25. Following the completion of the transaction, the senior vice president now owns 136,635 shares in the company, valued at approximately $1,367,716.35. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Arcutis Biotherapeutics Stock Performance

Shares of ARQT stock opened at $10.02 on Friday. The firm has a market capitalization of $1.16 billion, a PE ratio of -3.42 and a beta of 1.17. The firm has a fifty day simple moving average of $9.81 and a two-hundred day simple moving average of $9.49. The company has a current ratio of 8.46, a quick ratio of 8.19 and a debt-to-equity ratio of 1.09. Arcutis Biotherapeutics, Inc. has a 12 month low of $1.76 and a 12 month high of $13.17.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.06. The firm had revenue of $30.86 million for the quarter, compared to the consensus estimate of $31.00 million. Arcutis Biotherapeutics had a negative net margin of 150.51% and a negative return on equity of 145.41%. During the same period in the previous year, the firm earned ($1.16) EPS. Analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.56 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Jefferies Financial Group initiated coverage on Arcutis Biotherapeutics in a report on Wednesday, August 28th. They issued a “buy” rating and a $15.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and set a $18.00 price objective on shares of Arcutis Biotherapeutics in a report on Thursday, August 15th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $13.33.

Hedge Funds Weigh In On Arcutis Biotherapeutics

A number of hedge funds have recently bought and sold shares of the company. Perceptive Advisors LLC boosted its holdings in shares of Arcutis Biotherapeutics by 107.8% in the 2nd quarter. Perceptive Advisors LLC now owns 1,558,500 shares of the company’s stock worth $14,494,000 after buying an additional 808,500 shares during the last quarter. Capital Impact Advisors LLC purchased a new position in shares of Arcutis Biotherapeutics in the 2nd quarter worth about $606,000. Algert Global LLC purchased a new position in shares of Arcutis Biotherapeutics in the 2nd quarter worth about $97,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Arcutis Biotherapeutics by 31.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,323 shares of the company’s stock worth $375,000 after buying an additional 9,537 shares during the last quarter. Finally, Millennium Management LLC raised its position in shares of Arcutis Biotherapeutics by 35.3% in the second quarter. Millennium Management LLC now owns 512,696 shares of the company’s stock valued at $4,768,000 after purchasing an additional 133,645 shares during the period.

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.