Masaru Matsuda Sells 5,015 Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Masaru Matsuda sold 5,015 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $8.68, for a total transaction of $43,530.20. Following the sale, the insider now directly owns 178,273 shares in the company, valued at approximately $1,547,409.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Arcutis Biotherapeutics Trading Up 3.9 %

Shares of Arcutis Biotherapeutics stock opened at $9.66 on Thursday. Arcutis Biotherapeutics, Inc. has a 12-month low of $1.76 and a 12-month high of $13.17. The company has a market cap of $1.13 billion, a price-to-earnings ratio of -4.41 and a beta of 1.18. The company has a current ratio of 8.46, a quick ratio of 8.19 and a debt-to-equity ratio of 1.09. The company’s 50-day moving average price is $9.68 and its 200-day moving average price is $9.29.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $30.86 million for the quarter, compared to the consensus estimate of $31.00 million. During the same period in the prior year, the firm posted ($1.16) earnings per share. On average, equities analysts expect that Arcutis Biotherapeutics, Inc. will post -1.6 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ARQT shares. Jefferies Financial Group started coverage on shares of Arcutis Biotherapeutics in a report on Wednesday, August 28th. They set a “buy” rating and a $15.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price objective on shares of Arcutis Biotherapeutics in a report on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Arcutis Biotherapeutics has an average rating of “Moderate Buy” and a consensus price target of $14.40.

Institutional Investors Weigh In On Arcutis Biotherapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Rubric Capital Management LP raised its stake in Arcutis Biotherapeutics by 30.7% in the second quarter. Rubric Capital Management LP now owns 9,816,672 shares of the company’s stock valued at $91,295,000 after purchasing an additional 2,306,672 shares in the last quarter. Vanguard Group Inc. raised its stake in Arcutis Biotherapeutics by 5.5% in the first quarter. Vanguard Group Inc. now owns 5,166,417 shares of the company’s stock valued at $51,199,000 after purchasing an additional 269,904 shares in the last quarter. Farallon Capital Management LLC purchased a new stake in Arcutis Biotherapeutics in the first quarter valued at approximately $17,640,000. Perceptive Advisors LLC raised its stake in Arcutis Biotherapeutics by 107.8% in the second quarter. Perceptive Advisors LLC now owns 1,558,500 shares of the company’s stock valued at $14,494,000 after purchasing an additional 808,500 shares in the last quarter. Finally, Candriam S.C.A. purchased a new stake in Arcutis Biotherapeutics in the second quarter valued at approximately $12,159,000.

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.