Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Sells $127,100.00 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Howard G. Welgus sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $12.71, for a total value of $127,100.00. Following the sale, the director now owns 141,944 shares of the company’s stock, valued at $1,804,108.24. This trade represents a 6.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Arcutis Biotherapeutics Stock Performance

NASDAQ:ARQT opened at $13.18 on Thursday. The firm’s fifty day simple moving average is $13.67 and its 200-day simple moving average is $11.11. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67. The stock has a market cap of $1.54 billion, a PE ratio of -7.36 and a beta of 1.29. Arcutis Biotherapeutics, Inc. has a fifty-two week low of $5.38 and a fifty-two week high of $16.20.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its earnings results on Wednesday, November 6th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.09. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. The company had revenue of $44.76 million for the quarter, compared to analyst estimates of $38.05 million. Analysts expect that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Several institutional investors have recently modified their holdings of ARQT. Suvretta Capital Management LLC raised its holdings in Arcutis Biotherapeutics by 7.2% during the third quarter. Suvretta Capital Management LLC now owns 10,721,511 shares of the company’s stock worth $99,710,000 after purchasing an additional 717,019 shares during the last quarter. GSA Capital Partners LLP increased its position in shares of Arcutis Biotherapeutics by 730.0% in the third quarter. GSA Capital Partners LLP now owns 237,174 shares of the company’s stock valued at $2,206,000 after buying an additional 208,599 shares in the last quarter. Rubric Capital Management LP raised its stake in shares of Arcutis Biotherapeutics by 11.7% during the 3rd quarter. Rubric Capital Management LP now owns 10,966,672 shares of the company’s stock worth $101,990,000 after buying an additional 1,150,000 shares during the last quarter. Wesbanco Bank Inc. purchased a new stake in shares of Arcutis Biotherapeutics in the 3rd quarter worth about $955,000. Finally, Algert Global LLC grew its stake in Arcutis Biotherapeutics by 595.9% in the 3rd quarter. Algert Global LLC now owns 72,480 shares of the company’s stock valued at $674,000 after acquiring an additional 62,065 shares during the last quarter.

Analysts Set New Price Targets

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

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.