Insider Selling: Arcutis Biotherapeutics (NASDAQ:ARQT) Insider Sells 2,550 Shares of Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Masaru Matsuda sold 2,550 shares of the firm’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $28.29, for a total value of $72,139.50. Following the completion of the sale, the insider directly owned 151,476 shares of the company’s stock, valued at approximately $4,285,256.04. This trade represents a 1.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Masaru Matsuda also recently made the following trade(s):

• On Monday, November 3rd, Masaru Matsuda sold 7,208 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $24.72, for a total transaction of $178,181.76.
• On Thursday, September 4th, Masaru Matsuda sold 36,130 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $16.16, for a total transaction of $583,860.80.

Arcutis Biotherapeutics Stock Up 7.9%

Shares of NASDAQ:ARQT traded up $2.16 during midday trading on Friday, hitting $29.49. 2,593,352 shares of the stock were exchanged, compared to its average volume of 2,165,022. The company has a market capitalization of $3.61 billion, a PE ratio of -81.92 and a beta of 1.97. Arcutis Biotherapeutics, Inc. has a 52-week low of $10.05 and a 52-week high of $30.01. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.28 and a current ratio of 3.50. The business’s fifty day simple moving average is $21.34 and its two-hundred day simple moving average is $16.99.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its earnings results on Tuesday, October 28th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.16. The company had revenue of $99.22 million for the quarter, compared to analyst estimates of $86.69 million. Arcutis Biotherapeutics had a negative return on equity of 29.69% and a negative net margin of 13.94%. As a group, research analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on ARQT. Weiss Ratings reiterated a “sell (e+)” rating on shares of Arcutis Biotherapeutics in a research note on Tuesday, October 14th. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Arcutis Biotherapeutics in a research note on Wednesday, October 29th. Cowen reissued a “buy” rating on shares of Arcutis Biotherapeutics in a research report on Thursday, August 7th. Mizuho set a $32.00 price target on Arcutis Biotherapeutics in a research report on Wednesday, October 29th. Finally, Needham & Company LLC increased their price objective on Arcutis Biotherapeutics from $22.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Arcutis Biotherapeutics has a consensus rating of “Moderate Buy” and an average target price of $28.00.

Institutional Trading of Arcutis Biotherapeutics

A number of hedge funds have recently bought and sold shares of ARQT. Jennison Associates LLC increased its holdings in shares of Arcutis Biotherapeutics by 10.3% during the 3rd quarter. Jennison Associates LLC now owns 12,254,119 shares of the company’s stock worth $230,990,000 after purchasing an additional 1,144,714 shares during the period. Frazier Life Sciences Management L.P. increased its holdings in Arcutis Biotherapeutics by 12.4% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 9,874,511 shares of the company’s stock valued at $138,441,000 after buying an additional 1,089,227 shares during the period. Vanguard Group Inc. raised its stake in shares of Arcutis Biotherapeutics by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 7,146,090 shares of the company’s stock valued at $134,704,000 after buying an additional 96,991 shares in the last quarter. Polar Capital Holdings Plc lifted its holdings in shares of Arcutis Biotherapeutics by 5.8% during the 3rd quarter. Polar Capital Holdings Plc now owns 5,298,754 shares of the company’s stock worth $99,882,000 after acquiring an additional 292,279 shares during the period. Finally, State Street Corp boosted its position in shares of Arcutis Biotherapeutics by 1.2% during the 2nd quarter. State Street Corp now owns 4,526,937 shares of the company’s stock valued at $63,468,000 after acquiring an additional 52,734 shares in the last quarter.

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.