Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Howard G. Welgus Sells 10,000 Shares

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Howard G. Welgus sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $8.65, for a total value of $86,500.00. Following the completion of the sale, the director now owns 171,944 shares of the company’s stock, valued at $1,487,315.60. This trade represents a 0.00 % 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.

Arcutis Biotherapeutics Price Performance

Arcutis Biotherapeutics stock opened at $9.30 on Wednesday. The company has a fifty day simple moving average of $9.70 and a 200-day simple moving average of $9.29. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -4.25 and a beta of 1.18. The company has a quick ratio of 8.19, a current ratio of 8.46 and a debt-to-equity ratio of 1.09. Arcutis Biotherapeutics, Inc. has a 52-week low of $1.76 and a 52-week high of $13.17.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.42) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.06. Arcutis Biotherapeutics had a negative net margin of 150.51% and a negative return on equity of 145.41%. The company had revenue of $30.86 million during the quarter, compared to the consensus estimate of $31.00 million. During the same quarter in the prior year, the firm earned ($1.16) EPS. On average, equities analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.6 EPS for the current fiscal year.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in ARQT. CWM LLC grew its holdings in Arcutis Biotherapeutics by 6,740.0% in the 2nd quarter. CWM LLC now owns 4,104 shares of the company’s stock valued at $38,000 after buying an additional 4,044 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of Arcutis Biotherapeutics by 55.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 7,871 shares of the company’s stock valued at $78,000 after acquiring an additional 2,800 shares during the last quarter. Algert Global LLC purchased a new stake in shares of Arcutis Biotherapeutics in the second quarter valued at about $97,000. Victory Capital Management Inc. increased its position in Arcutis Biotherapeutics by 9.9% during the third 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 during the last quarter. Finally, Creative Planning purchased a new position in Arcutis Biotherapeutics during the third quarter worth about $127,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and issued a $18.00 price target on shares of Arcutis Biotherapeutics in a research note on Thursday, August 15th. Jefferies Financial Group assumed coverage on shares of Arcutis Biotherapeutics in a research report on Wednesday, August 28th. They issued a “buy” rating and a $15.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.33.

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.