Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Insider Sells $21,132.00 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Todd Franklin Watanabe sold 1,200 shares of Arcutis Biotherapeutics stock in a transaction on Monday, March 17th. The shares were sold at an average price of $17.61, for a total transaction of $21,132.00. Following the completion of the transaction, the insider now directly owns 928,914 shares in the company, valued at $16,358,175.54. The trade was a 0.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Todd Franklin Watanabe also recently made the following trade(s):

• On Friday, December 20th, Todd Franklin Watanabe sold 15,000 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $15.17, for a total transaction of $227,550.00.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ ARQT traded up $0.17 during trading on Thursday, hitting $16.77. 3,286,618 shares of the company were exchanged, compared to its average volume of 2,408,775. Arcutis Biotherapeutics, Inc. has a 1 year low of $6.99 and a 1 year high of $17.70. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38. The firm’s fifty day moving average price is $13.61 and its 200 day moving average price is $11.99. The company has a market cap of $1.99 billion, a price-to-earnings ratio of -9.37 and a beta of 1.48.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.19. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. The business had revenue of $71.36 million for the quarter, compared to analyst estimates of $60.52 million. On average, sell-side analysts expect that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ARQT. Jefferies Financial Group boosted their price objective on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. Needham & Company LLC reissued a “buy” rating and issued a $20.00 price objective on shares of Arcutis Biotherapeutics in a research note on Wednesday, February 26th. Mizuho boosted their price objective on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. HC Wainwright reissued a “buy” rating and issued a $19.00 price objective on shares of Arcutis Biotherapeutics in a research note on Wednesday, February 26th. Finally, The Goldman Sachs Group boosted their price objective on shares of Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Arcutis Biotherapeutics has a consensus rating of “Moderate Buy” and an average price target of $18.80.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Jennison Associates LLC boosted its position in shares of Arcutis Biotherapeutics by 5.8% in the 4th quarter. Jennison Associates LLC now owns 12,339,792 shares of the company’s stock worth $171,893,000 after buying an additional 676,295 shares in the last quarter. Suvretta Capital Management LLC lifted its holdings in Arcutis Biotherapeutics by 6.3% in the 4th quarter. Suvretta Capital Management LLC now owns 11,399,138 shares of the company’s stock valued at $158,790,000 after purchasing an additional 677,627 shares in the last quarter. Rubric Capital Management LP lifted its holdings in Arcutis Biotherapeutics by 11.7% in the 3rd quarter. Rubric Capital Management LP now owns 10,966,672 shares of the company’s stock valued at $101,990,000 after purchasing an additional 1,150,000 shares in the last quarter. Polar Capital Holdings Plc lifted its holdings in Arcutis Biotherapeutics by 7.2% in the 4th quarter. Polar Capital Holdings Plc now owns 7,377,381 shares of the company’s stock valued at $102,767,000 after purchasing an additional 493,009 shares in the last quarter. Finally, State Street Corp lifted its holdings in Arcutis Biotherapeutics by 9.9% in the 3rd quarter. State Street Corp now owns 5,641,631 shares of the company’s stock valued at $52,467,000 after purchasing an additional 506,788 shares in the last quarter.

About Arcutis Biotherapeutics

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.