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 company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $9.31, for a total value of $93,100.00. Following the sale, the director now owns 180,339 shares in the company, valued at approximately $1,678,956.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Arcutis Biotherapeutics Price Performance

Arcutis Biotherapeutics stock opened at $9.60 on Friday. Arcutis Biotherapeutics, Inc. has a 12 month low of $1.76 and a 12 month high of $13.17. The stock’s 50 day moving average is $8.62 and its 200-day moving average is $7.88. The company has a current ratio of 9.89, a quick ratio of 9.61 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -3.28 and a beta of 1.18.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its earnings results on Tuesday, May 14th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.60) by $0.28. Arcutis Biotherapeutics had a negative return on equity of 197.28% and a negative net margin of 204.35%. The company had revenue of $49.57 million for the quarter. During the same period in the previous year, the company posted ($1.31) EPS. Equities research analysts expect that Arcutis Biotherapeutics, Inc. will post -1.6 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Needham & Company LLC upped their target price on Arcutis Biotherapeutics from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Mizuho upped their target price on Arcutis Biotherapeutics from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $25.38.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Several institutional investors and hedge funds have recently made changes to their positions in ARQT. Price T Rowe Associates Inc. MD grew its position in Arcutis Biotherapeutics by 3.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 47,753 shares of the company’s stock worth $474,000 after buying an additional 1,681 shares in the last quarter. ProShare Advisors LLC grew its position in 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 buying an additional 1,870 shares in the last quarter. Ameritas Investment Partners Inc. grew its position in 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 buying an additional 2,800 shares in the last quarter. Amalgamated Bank grew its position in Arcutis Biotherapeutics by 48.9% during the fourth quarter. Amalgamated Bank now owns 11,078 shares of the company’s stock worth $36,000 after buying an additional 3,639 shares in the last quarter. Finally, Deutsche Bank AG grew its position in Arcutis Biotherapeutics by 13.7% during the third quarter. Deutsche Bank AG now owns 30,362 shares of the company’s stock worth $161,000 after buying an additional 3,655 shares in 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.