Howard G. Welgus Sells 10,000 Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Howard G. Welgus sold 10,000 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $9.31, for a total transaction of $93,100.00. Following the sale, the director now directly owns 180,339 shares in the company, valued at $1,678,956.09. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Arcutis Biotherapeutics Stock Up 3.2 %

ARQT opened at $9.60 on Thursday. Arcutis Biotherapeutics, Inc. has a twelve month low of $1.76 and a twelve month high of $13.17. The company has a quick ratio of 9.61, a current ratio of 9.89 and a debt-to-equity ratio of 0.90. The company has a 50-day moving average price of $8.60 and a 200 day moving average price of $7.87. The company has a market cap of $1.11 billion, a PE ratio of -3.28 and a beta of 1.18.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings data on Tuesday, May 14th. The company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.28. The company had revenue of $49.57 million during the quarter. Arcutis Biotherapeutics had a negative net margin of 204.35% and a negative return on equity of 197.28%. During the same quarter in the previous year, the company posted ($1.31) EPS. Sell-side analysts expect that Arcutis Biotherapeutics, Inc. will post -1.6 earnings per share for the current fiscal year.

Institutional Trading of Arcutis Biotherapeutics

Several hedge funds have recently made changes to their positions in ARQT. Cape Investment Advisory Inc. purchased a new stake in shares of Arcutis Biotherapeutics in the 4th quarter valued at approximately $26,000. Cantor Fitzgerald L. P. purchased a new stake in shares of Arcutis Biotherapeutics in the 4th quarter valued at approximately $33,000. Victory Capital Management Inc. purchased a new stake in shares of Arcutis Biotherapeutics in the 4th quarter valued at approximately $34,000. China Universal Asset Management Co. Ltd. grew its stake in shares of Arcutis Biotherapeutics by 586.8% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 10,920 shares of the company’s stock valued at $35,000 after buying an additional 9,330 shares during the period. Finally, Amalgamated Bank grew its stake in shares of Arcutis Biotherapeutics by 48.9% in the 4th quarter. Amalgamated Bank now owns 11,078 shares of the company’s stock valued at $36,000 after buying an additional 3,639 shares during the period.

Analysts Set New Price Targets

ARQT has been the topic of several recent analyst reports. Needham & Company LLC increased their target price on shares of Arcutis Biotherapeutics from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. Mizuho increased their target price on shares of Arcutis Biotherapeutics from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Arcutis Biotherapeutics presently has an average rating of “Moderate Buy” and an average target price of $25.38.

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.