Arcutis Biotherapeutics (NASDAQ:ARQT) Insider Sells $178,181.76 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Masaru Matsuda sold 7,208 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $24.72, for a total value of $178,181.76. Following the transaction, the insider directly owned 154,026 shares of the company’s stock, valued at $3,807,522.72. This represents a 4.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Thursday, September 4th, Masaru Matsuda sold 36,130 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $16.16, for a total transaction of $583,860.80.

Arcutis Biotherapeutics Trading Down 3.5%

NASDAQ:ARQT opened at $24.23 on Friday. The firm has a market capitalization of $2.97 billion, a P/E ratio of -67.31 and a beta of 1.97. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.50 and a quick ratio of 3.28. Arcutis Biotherapeutics, Inc. has a one year low of $8.90 and a one year high of $27.08. The company’s 50-day simple moving average is $19.80 and its 200 day simple moving average is $16.33.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its earnings results on Tuesday, October 28th. The company reported $0.06 earnings per share 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 business had revenue of $99.22 million during the quarter, compared to the consensus estimate of $86.69 million. As a group, analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ARQT. Triumph Capital Management purchased a new stake in Arcutis Biotherapeutics during the 2nd quarter valued at $410,000. Amalgamated Bank boosted its stake in shares of Arcutis Biotherapeutics by 39.4% in the 1st quarter. Amalgamated Bank now owns 3,723 shares of the company’s stock worth $58,000 after buying an additional 1,053 shares during the last quarter. Invst LLC bought a new stake in shares of Arcutis Biotherapeutics in the first quarter worth $323,000. New York State Common Retirement Fund increased its position in Arcutis Biotherapeutics by 93.4% during the first quarter. New York State Common Retirement Fund now owns 48,670 shares of the company’s stock valued at $761,000 after acquiring an additional 23,503 shares during the last quarter. Finally, Ieq Capital LLC purchased a new stake in Arcutis Biotherapeutics during the first quarter valued at $345,000.

Analysts Set New Price Targets

A number of brokerages have issued reports on ARQT. Mizuho set a $32.00 price objective on Arcutis Biotherapeutics in a research note on Wednesday, October 29th. HC Wainwright restated a “buy” rating and set a $30.00 price target on shares of Arcutis Biotherapeutics in a report on Wednesday, October 29th. The Goldman Sachs Group lifted their price target on Arcutis Biotherapeutics from $19.00 to $29.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Weiss Ratings reissued a “sell (e+)” rating on shares of Arcutis Biotherapeutics in a research report on Tuesday, October 14th. Finally, Wall Street Zen upgraded shares of Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 1st. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $28.00.

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.