Arcutis Biotherapeutics (NASDAQ:ARQT) Insider Todd Watanabe Sells 48,945 Shares

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Todd Watanabe sold 48,945 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $30.36, for a total value of $1,485,970.20. Following the completion of the transaction, the insider directly owned 740,537 shares of the company’s stock, valued at approximately $22,482,703.32. This trade represents a 6.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Friday, November 21st, Todd Watanabe sold 1,055 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $30.00, for a total transaction of $31,650.00.
• On Monday, November 3rd, Todd Watanabe sold 11,547 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $24.72, for a total transaction of $285,441.84.
• On Tuesday, October 28th, Todd Watanabe sold 40,000 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $25.03, for a total transaction of $1,001,200.00.
• On Thursday, October 2nd, Todd Watanabe sold 20,739 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $20.04, for a total transaction of $415,609.56.
• On Wednesday, October 1st, Todd Watanabe sold 24,261 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $19.33, for a total transaction of $468,965.13.
• On Tuesday, September 9th, Todd Watanabe sold 504 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $17.52, for a total value of $8,830.08.
• On Monday, September 8th, Todd Watanabe sold 9,625 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $17.54, for a total transaction of $168,822.50.

Arcutis Biotherapeutics Stock Performance

ARQT stock traded up $1.27 during midday trading on Monday, reaching $30.76. 3,780,365 shares of the company’s stock traded hands, compared to its average volume of 2,170,959. The company has a current ratio of 3.50, a quick ratio of 3.28 and a debt-to-equity ratio of 0.68. Arcutis Biotherapeutics, Inc. has a 52-week low of $10.21 and a 52-week high of $31.10. The stock has a market cap of $3.77 billion, a P/E ratio of -85.44 and a beta of 1.96. The stock’s 50-day moving average is $21.59 and its 200 day moving average is $17.13.

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

Institutional Investors Weigh In On Arcutis Biotherapeutics

Several large investors have recently added to or reduced their stakes in the stock. Triumph Capital Management purchased a new stake in shares of Arcutis Biotherapeutics in the 2nd quarter worth approximately $410,000. Invst LLC purchased a new stake in Arcutis Biotherapeutics during the first quarter worth $323,000. Ieq Capital LLC purchased a new position in shares of Arcutis Biotherapeutics in the 1st quarter valued at $345,000. Fred Alger Management LLC bought a new position in shares of Arcutis Biotherapeutics in the 1st quarter worth $568,000. Finally, Corton Capital Inc. purchased a new stake in shares of Arcutis Biotherapeutics during the 2nd quarter worth $238,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Cowen reaffirmed a “buy” rating on shares of Arcutis Biotherapeutics in a research note on Thursday, August 7th. Mizuho set a $32.00 price target on shares of Arcutis Biotherapeutics in a research report on Wednesday, October 29th. The Goldman Sachs Group raised their price objective on shares of Arcutis Biotherapeutics from $19.00 to $29.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. HC Wainwright reiterated a “buy” rating and set a $30.00 target price on shares of Arcutis Biotherapeutics in a research report on Wednesday, October 29th. Finally, Needham & Company LLC lifted their price objective on shares of Arcutis Biotherapeutics from $22.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.00.

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.