Arcutis Biotherapeutics (NASDAQ:ARQT) Stock Price Down 9.5% – What’s Next?

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) dropped 9.5% on Thursday . The stock traded as low as $11.68 and last traded at $11.96. Approximately 959,743 shares traded hands during trading, a decline of 54% from the average daily volume of 2,072,166 shares. The stock had previously closed at $13.21.

Analyst Ratings Changes

Several research firms recently issued reports on ARQT. HC Wainwright restated a “buy” rating and set a $19.00 price objective on shares of Arcutis Biotherapeutics in a research report on Monday, January 13th. Mizuho raised their price target on shares of Arcutis Biotherapeutics from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. Guggenheim reiterated a “buy” rating on shares of Arcutis Biotherapeutics in a report on Monday, February 10th. Finally, Needham & Company LLC reissued a “buy” rating and set a $18.00 target price on shares of Arcutis Biotherapeutics in a research note on Thursday, November 7th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $16.60.

Arcutis Biotherapeutics Price Performance

The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of -7.14 and a beta of 1.29. The company has a 50 day moving average of $13.64 and a 200 day moving average of $11.21.

Insiders Place Their Bets

In other Arcutis Biotherapeutics news, insider Masaru Matsuda sold 8,338 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $12.70, for a total transaction of $105,892.60. Following the transaction, the insider now directly owns 178,692 shares of the company’s stock, valued at approximately $2,269,388.40. This trade represents a 4.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Patrick Burnett sold 16,023 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $10.14, for a total value of $162,473.22. Following the completion of the transaction, the insider now owns 128,669 shares in the company, valued at $1,304,703.66. This trade represents a 11.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 72,827 shares of company stock valued at $935,672 over the last quarter. Company insiders own 9.50% of the company’s stock.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Large investors have recently bought and sold shares of the stock. Point72 DIFC Ltd acquired a new stake in shares of Arcutis Biotherapeutics during the third quarter valued at $25,000. Venturi Wealth Management LLC acquired a new stake in shares of Arcutis Biotherapeutics during the 4th quarter worth about $46,000. Erste Asset Management GmbH purchased a new stake in shares of Arcutis Biotherapeutics during the third quarter worth about $104,000. Victory Capital Management Inc. raised its position in shares of Arcutis Biotherapeutics by 9.9% in the third quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock valued at $119,000 after buying an additional 1,155 shares during the last quarter. Finally, Creative Planning purchased a new position in shares of Arcutis Biotherapeutics during the third quarter valued at approximately $127,000.

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.