Patrick Burnett Sells 16,023 Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Patrick Burnett sold 16,023 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $10.14, for a total transaction of $162,473.22. Following the completion of the transaction, the insider now owns 128,669 shares in the company, valued at approximately $1,304,703.66. The trade was a 11.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Patrick Burnett also recently made the following trade(s):

• On Friday, November 15th, Patrick Burnett sold 100 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $10.03, for a total value of $1,003.00.

Arcutis Biotherapeutics Stock Up 6.9 %

NASDAQ ARQT traded up $0.74 during trading hours on Tuesday, hitting $11.51. 2,762,528 shares of the company were exchanged, compared to its average volume of 3,199,623. The company has a 50 day moving average of $9.57 and a two-hundred day moving average of $9.46. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of -6.43 and a beta of 1.18. Arcutis Biotherapeutics, Inc. has a 52-week low of $1.76 and a 52-week high of $13.17. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.09. The firm 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%. Equities research analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.34 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC boosted its stake in shares of Arcutis Biotherapeutics by 2.0% in the third quarter. Geode Capital Management LLC now owns 2,470,138 shares of the company’s stock valued at $22,977,000 after buying an additional 48,868 shares in the last quarter. Barclays PLC grew its holdings in Arcutis Biotherapeutics by 45.8% during the 3rd quarter. Barclays PLC now owns 253,392 shares of the company’s stock valued at $2,356,000 after buying an additional 79,579 shares during the last quarter. XTX Topco Ltd raised its stake in Arcutis Biotherapeutics by 30.9% in the 3rd quarter. XTX Topco Ltd now owns 47,728 shares of the company’s stock valued at $444,000 after purchasing an additional 11,262 shares during the last quarter. State Street Corp grew its holdings in shares of Arcutis Biotherapeutics by 9.9% during the third quarter. State Street Corp now owns 5,641,631 shares of the company’s stock worth $52,467,000 after buying an additional 506,788 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new position in shares of Arcutis Biotherapeutics during the third quarter valued at approximately $25,000.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $18.00 price objective on shares of Arcutis Biotherapeutics in a research note on Thursday, November 7th. 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 target price on the stock.

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.