Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Sells $94,253.95 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Terrie Curran sold 8,687 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $10.85, for a total transaction of $94,253.95. Following the sale, the director now directly owns 10,139 shares in the company, valued at $110,008.15. This represents a 46.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Arcutis Biotherapeutics Price Performance

Shares of Arcutis Biotherapeutics stock opened at $9.93 on Friday. Arcutis Biotherapeutics, Inc. has a 52 week low of $1.76 and a 52 week high of $13.17. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67. The firm’s 50 day moving average is $9.65 and its two-hundred day moving average is $9.36.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.09. The company had revenue of $44.76 million for the quarter, compared to analyst estimates of $38.05 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. On average, analysts predict that Arcutis Biotherapeutics, Inc. will post -1.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on ARQT. Jefferies Financial Group began coverage on shares of Arcutis Biotherapeutics in a research report on Wednesday, August 28th. They set a “buy” rating and a $15.00 price target on the stock. Needham & Company LLC restated a “buy” rating and set a $18.00 target price on shares of Arcutis Biotherapeutics in a research note on Thursday, November 7th.

Hedge Funds Weigh In On Arcutis Biotherapeutics

A number of hedge funds have recently modified their holdings of ARQT. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Arcutis Biotherapeutics during the first quarter worth approximately $469,000. ProShare Advisors LLC grew its position in shares of Arcutis Biotherapeutics by 9.8% during the first quarter. ProShare Advisors LLC now owns 20,990 shares of the company’s stock worth $208,000 after acquiring an additional 1,870 shares during the last quarter. Koshinski Asset Management Inc. purchased a new position in shares of Arcutis Biotherapeutics during the first quarter worth approximately $198,000. Vanguard Group Inc. grew its position in shares of Arcutis Biotherapeutics by 5.5% during the first quarter. Vanguard Group Inc. now owns 5,166,417 shares of the company’s stock worth $51,199,000 after acquiring an additional 269,904 shares during the last quarter. Finally, Ameritas Investment Partners Inc. grew its position in shares of Arcutis Biotherapeutics by 55.2% during the first quarter. Ameritas Investment Partners Inc. now owns 7,871 shares of the company’s stock worth $78,000 after acquiring an additional 2,800 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.