Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Insider Sells $26,280.00 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Todd Franklin Watanabe sold 1,500 shares of Arcutis Biotherapeutics stock in a transaction on Monday, March 24th. The shares were sold at an average price of $17.52, for a total value of $26,280.00. Following the completion of the transaction, the insider now owns 927,414 shares of the company’s stock, valued at approximately $16,248,293.28. This trade represents a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Monday, March 17th, Todd Franklin Watanabe sold 1,200 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $17.61, for a total transaction of $21,132.00.

Arcutis Biotherapeutics Price Performance

Arcutis Biotherapeutics stock opened at $16.47 on Thursday. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67. The firm’s 50-day simple moving average is $13.87 and its 200 day simple moving average is $12.18. Arcutis Biotherapeutics, Inc. has a 52 week low of $6.99 and a 52 week high of $17.75. The firm has a market capitalization of $1.95 billion, a PE ratio of -9.20 and a beta of 1.48.

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

Institutional Trading of Arcutis Biotherapeutics

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Guggenheim reaffirmed a “buy” rating on shares of Arcutis Biotherapeutics in a report on Monday, February 24th. Mizuho lifted their price target on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. The Goldman Sachs Group upped 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. Jefferies Financial Group lifted their target price on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. Finally, HC Wainwright reissued a “buy” rating and issued a $19.00 target price on shares of Arcutis Biotherapeutics in a report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.80.

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.