Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Insider Sells $104,835.57 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Larry Todd Edwards sold 7,451 shares of the firm’s stock in a transaction on Monday, May 19th. The shares were sold at an average price of $14.07, for a total value of $104,835.57. Following the sale, the insider now directly owns 183,104 shares in the company, valued at approximately $2,576,273.28. This trade represents a 3.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Arcutis Biotherapeutics Price Performance

ARQT opened at $13.66 on Friday. Arcutis Biotherapeutics, Inc. has a 1 year low of $6.99 and a 1 year high of $17.75. 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 company has a market capitalization of $1.63 billion, a price-to-earnings ratio of -7.63 and a beta of 1.87. The firm’s fifty day moving average price is $14.60 and its two-hundred day moving average price is $13.54.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.01. The company had revenue of $65.85 million during the quarter, compared to analysts’ expectations of $64.80 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. As a group, analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ARQT. Fishman Jay A Ltd. MI boosted its stake in Arcutis Biotherapeutics by 28.3% during the fourth 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. Barclays PLC increased its stake in Arcutis Biotherapeutics by 45.8% in the 3rd quarter. Barclays PLC now owns 253,392 shares of the company’s stock worth $2,356,000 after acquiring an additional 79,579 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Arcutis Biotherapeutics by 11.4% in the 4th quarter. American Century Companies Inc. now owns 1,631,226 shares of the company’s stock valued at $22,723,000 after acquiring an additional 166,915 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Arcutis Biotherapeutics by 5.8% in the 4th quarter. Jennison Associates LLC now owns 12,339,792 shares of the company’s stock valued at $171,893,000 after acquiring an additional 676,295 shares in the last quarter. Finally, Zweig DiMenna Associates LLC bought a new stake in shares of Arcutis Biotherapeutics during the 4th quarter valued at about $578,000.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Jefferies Financial Group lifted their price target on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. Mizuho raised their target price on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Guggenheim reiterated a “buy” rating on shares of Arcutis Biotherapeutics in a research report on Thursday, April 3rd. Needham & Company LLC reissued a “buy” rating and issued a $20.00 price target on shares of Arcutis Biotherapeutics in a research note on Wednesday, April 9th. Finally, The Goldman Sachs Group lifted their price objective on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus 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.