Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Insider Sells $26,280.00 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Todd Franklin Watanabe sold 1,500 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $17.52, for a total transaction of $26,280.00. Following the completion of the sale, the insider now owns 927,414 shares of the company’s stock, valued at approximately $16,248,293.28. The trade was a 0.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Todd Franklin Watanabe also recently made the following trade(s):

• On Monday, March 17th, Todd Franklin Watanabe sold 1,200 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $17.61, for a total value of $21,132.00.

Arcutis Biotherapeutics Stock Down 2.2 %

Shares of NASDAQ:ARQT opened at $15.73 on Friday. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of -8.79 and a beta of 1.48. Arcutis Biotherapeutics, Inc. has a 12-month low of $6.99 and a 12-month high of $17.75. The business has a 50-day moving average price of $13.98 and a 200 day moving average price of $12.24. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67.

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on ARQT. HC Wainwright reiterated a “buy” rating and set a $19.00 price objective on shares of Arcutis Biotherapeutics in a research report on Wednesday, February 26th. Jefferies Financial Group boosted their price target on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. Guggenheim restated a “buy” rating on shares of Arcutis Biotherapeutics in a research report 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 note on Wednesday, February 26th. Finally, Mizuho increased their price target on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Arcutis Biotherapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $18.80.

Institutional Trading of Arcutis Biotherapeutics

Several institutional investors have recently added to or reduced their stakes in the stock. Suvretta Capital Management LLC boosted its position in shares of 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 buying an additional 717,019 shares during the period. Fishman Jay A Ltd. MI raised its holdings in shares of Arcutis Biotherapeutics by 28.3% in the 4th quarter. Fishman Jay A Ltd. MI now owns 536,400 shares of the company’s stock valued at $7,472,000 after buying an additional 118,400 shares during the period. Rubric Capital Management LP lifted its stake in 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 acquiring an additional 1,150,000 shares in the last quarter. Algert Global LLC boosted its holdings in Arcutis Biotherapeutics by 595.9% during 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 period. Finally, Barclays PLC grew its position in Arcutis Biotherapeutics by 45.8% in the 3rd quarter. Barclays PLC now owns 253,392 shares of the company’s stock valued at $2,356,000 after acquiring an additional 79,579 shares in the last quarter.

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.