Arcutis Biotherapeutics (NASDAQ:ARQT) Director Sue-Jean Lin Sells 4,946 Shares

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Sue-Jean Lin sold 4,946 shares of Arcutis Biotherapeutics stock in a transaction on Monday, June 15th. The shares were sold at an average price of $24.38, for a total transaction of $120,583.48. Following the completion of the sale, the director directly owned 27,567 shares of the company’s stock, valued at approximately $672,083.46. The trade was a 15.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Arcutis Biotherapeutics Stock Performance

NASDAQ ARQT opened at $26.22 on Thursday. The company has a fifty day simple moving average of $22.68 and a 200 day simple moving average of $25.15. Arcutis Biotherapeutics, Inc. has a 12-month low of $13.06 and a 12-month high of $31.77. The company has a current ratio of 2.68, a quick ratio of 2.46 and a debt-to-equity ratio of 0.54. The company has a market cap of $3.28 billion, a P/E ratio of -873.71 and a beta of 1.51.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.07). Arcutis Biotherapeutics had a negative net margin of 0.57% and a negative return on equity of 1.41%. The business had revenue of $105.40 million during the quarter, compared to analyst estimates of $103.68 million. Sell-side analysts predict that Arcutis Biotherapeutics, Inc. will post 0.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ARQT. Wall Street Zen downgraded shares of Arcutis Biotherapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a research report on Friday, March 27th. Mizuho reduced their price target on shares of Arcutis Biotherapeutics from $37.00 to $35.00 and set an “outperform” rating for the company in a research report on Monday, March 2nd. TD Cowen raised their price objective on Arcutis Biotherapeutics from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Finally, Needham & Company LLC restated a “buy” rating and set a $36.00 price objective on shares of Arcutis Biotherapeutics in a research note on Thursday, May 7th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $34.00.

Institutional Investors Weigh In On Arcutis Biotherapeutics

A number of hedge funds have recently made changes to their positions in the business. Suvretta Capital Management LLC raised its stake in shares of Arcutis Biotherapeutics by 14.2% during the 4th quarter. Suvretta Capital Management LLC now owns 11,964,000 shares of the company’s stock worth $347,435,000 after purchasing an additional 1,486,000 shares during the period. Vanguard Group Inc. raised its stake in shares of Arcutis Biotherapeutics by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 7,253,936 shares of the company’s stock worth $210,654,000 after purchasing an additional 107,846 shares during the period. Polar Capital Holdings Plc raised its stake in shares of Arcutis Biotherapeutics by 4.9% during the 4th quarter. Polar Capital Holdings Plc now owns 5,556,169 shares of the company’s stock worth $161,351,000 after purchasing an additional 257,415 shares during the period. State Street Corp raised its stake in shares of Arcutis Biotherapeutics by 18.2% during the 4th quarter. State Street Corp now owns 5,488,301 shares of the company’s stock worth $159,380,000 after purchasing an additional 846,986 shares during the period. Finally, Morgan Stanley raised its stake in shares of Arcutis Biotherapeutics by 1.5% during the 4th quarter. Morgan Stanley now owns 4,340,239 shares of the company’s stock worth $126,041,000 after purchasing an additional 63,845 shares during the period.

Arcutis Biotherapeutics Company Profile

Arcutis Biotherapeutics is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for immuno-inflammatory skin diseases. The company’s research and development efforts center on targeted treatments that address the underlying biology of conditions such as plaque psoriasis, atopic dermatitis, seborrheic dermatitis and vitiligo. Arcutis employs a precision-medicine approach to deliver topical therapies designed to improve efficacy and tolerability compared with existing treatment options.

In August 2022, Arcutis received U.S.