Insider Selling: Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Insider Sells $184,119.68 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Patrick Burnett sold 12,242 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $15.04, for a total value of $184,119.68. Following the completion of the transaction, the insider now owns 121,936 shares in the company, valued at approximately $1,833,917.44. This represents a 9.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, March 3rd, Patrick Burnett sold 2,819 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $13.03, for a total transaction of $36,731.57.
• On Tuesday, December 31st, Patrick Burnett sold 1,691 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $14.00, for a total transaction of $23,674.00.

Arcutis Biotherapeutics Stock Up 4.6 %

Shares of NASDAQ:ARQT opened at $16.60 on Thursday. The company has a market capitalization of $1.97 billion, a PE ratio of -9.27 and a beta of 1.48. Arcutis Biotherapeutics, Inc. has a 1 year low of $6.99 and a 1 year high of $17.70. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38. The business has a fifty day moving average price of $13.58 and a two-hundred day moving average price of $11.96.

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

Institutional Investors Weigh In On Arcutis Biotherapeutics

Hedge funds have recently modified their holdings of the stock. Point72 DIFC Ltd purchased a new stake in Arcutis Biotherapeutics in the third quarter worth $25,000. GF Fund Management CO. LTD. purchased a new stake in Arcutis Biotherapeutics in the 4th quarter worth about $34,000. Venturi Wealth Management LLC bought a new stake in Arcutis Biotherapeutics in the 4th quarter valued at about $46,000. Erste Asset Management GmbH purchased a new stake in Arcutis Biotherapeutics during the third quarter valued at about $104,000. Finally, Victory Capital Management Inc. boosted its position in Arcutis Biotherapeutics by 9.9% during the third quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock worth $119,000 after purchasing an additional 1,155 shares during the period.

Analyst Upgrades and Downgrades

ARQT has been the subject of a number of analyst reports. Guggenheim reiterated a “buy” rating on shares of Arcutis Biotherapeutics in a research note on Monday, February 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 target price on shares of Arcutis Biotherapeutics in a research report on Wednesday, February 26th. HC Wainwright reissued a “buy” rating and issued a $19.00 price target on shares of Arcutis Biotherapeutics in a research report on Wednesday, February 26th. The Goldman Sachs Group lifted their price objective on shares of Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, February 27th. Finally, Mizuho increased their target price on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Arcutis Biotherapeutics presently has an average rating of “Moderate Buy” and an average price target of $18.80.

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.