Arcutis Biotherapeutics (NASDAQ:ARQT) Stock Price Down 4% – Time to Sell?

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)’s stock price dropped 4% during mid-day trading on Friday . The company traded as low as $13.43 and last traded at $13.20. Approximately 242,003 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 1,787,045 shares. The stock had previously closed at $13.75.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Needham & Company LLC reissued a “buy” rating and set a $18.00 target price on shares of Arcutis Biotherapeutics in a research report on Thursday, November 7th. HC Wainwright reissued a “buy” rating and set a $19.00 price objective on shares of Arcutis Biotherapeutics in a report on Monday. Finally, Mizuho raised their price objective on Arcutis Biotherapeutics from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Tuesday, January 7th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $16.60.

Arcutis Biotherapeutics Trading Down 7.0 %

The company has a 50-day simple moving average of $12.83 and a 200 day simple moving average of $10.78. The company has a market capitalization of $1.50 billion, a P/E ratio of -7.15 and a beta of 1.30. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its earnings results on Wednesday, November 6th. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.09. The business had revenue of $44.76 million for the quarter, compared to the consensus estimate of $38.05 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. Sell-side analysts expect that Arcutis Biotherapeutics, Inc. will post -1.36 earnings per share for the current year.

Insider Activity at Arcutis Biotherapeutics

In other news, Director Howard G. Welgus sold 10,000 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $8.65, for a total value of $86,500.00. Following the completion of the transaction, the director now owns 171,944 shares in the company, valued at approximately $1,487,315.60. This represents a 5.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Todd Franklin Watanabe sold 15,000 shares of Arcutis Biotherapeutics stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $15.17, for a total transaction of $227,550.00. Following the sale, the insider now owns 823,430 shares in the company, valued at approximately $12,491,433.10. This trade represents a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 78,291 shares of company stock worth $927,966. 9.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Institutional investors have recently added to or reduced their stakes in the company. Point72 DIFC Ltd bought a new stake in shares of Arcutis Biotherapeutics during the third quarter worth $25,000. Algert Global LLC acquired a new position in Arcutis Biotherapeutics during the 2nd quarter worth about $97,000. Erste Asset Management GmbH bought a new stake in Arcutis Biotherapeutics during the 3rd quarter worth about $104,000. Victory Capital Management Inc. increased its position in Arcutis Biotherapeutics by 9.9% in the 3rd quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock valued at $119,000 after acquiring an additional 1,155 shares in the last quarter. Finally, Creative Planning bought a new stake in shares of Arcutis Biotherapeutics during the third quarter valued at approximately $127,000.

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.