Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Insider Patrick Burnett Sells 1,691 Shares

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Patrick Burnett sold 1,691 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $14.00, for a total transaction of $23,674.00. Following the completion of the transaction, the insider now owns 126,978 shares in the company, valued at approximately $1,777,692. This trade represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Patrick Burnett also recently made the following trade(s):

• On Friday, November 22nd, Patrick Burnett sold 16,023 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $10.14, for a total transaction of $162,473.22.
• On Friday, November 15th, Patrick Burnett sold 100 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $10.03, for a total transaction of $1,003.00.

Arcutis Biotherapeutics Stock Down 1.9 %

ARQT opened at $13.93 on Wednesday. Arcutis Biotherapeutics, Inc. has a 12 month low of $3.07 and a 12 month high of $15.79. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67. The business’s 50-day moving average price is $11.51 and its 200-day moving average price is $10.33. The company has a market cap of $1.63 billion, a P/E ratio of -7.78 and a beta of 1.32.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.09. The business had revenue of $44.76 million for the quarter, compared to analysts’ expectations of $38.05 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. On average, equities analysts expect that Arcutis Biotherapeutics, Inc. will post -1.34 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ARQT shares. HC Wainwright started coverage on Arcutis Biotherapeutics in a research report on Monday. They set a “buy” rating and a $19.00 price target on the stock. Needham & Company LLC restated a “buy” rating and issued a $18.00 target price on shares of Arcutis Biotherapeutics in a research report on Thursday, November 7th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.20.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Institutional investors have recently added to or reduced their stakes in the company. Jennison Associates LLC raised its stake in shares of Arcutis Biotherapeutics by 0.8% during the third quarter. Jennison Associates LLC now owns 11,663,497 shares of the company’s stock valued at $108,471,000 after acquiring an additional 91,803 shares during the last quarter. Rubric Capital Management LP increased its holdings in Arcutis Biotherapeutics by 11.7% during the 3rd quarter. Rubric Capital Management LP now owns 10,966,672 shares of the company’s stock valued at $101,990,000 after purchasing an additional 1,150,000 shares during the period. Suvretta Capital Management LLC raised its position in Arcutis Biotherapeutics by 7.2% during the 3rd quarter. Suvretta Capital Management LLC now owns 10,721,511 shares of the company’s stock valued at $99,710,000 after purchasing an additional 717,019 shares during the last quarter. State Street Corp lifted its holdings in Arcutis Biotherapeutics by 9.9% in the 3rd quarter. State Street Corp now owns 5,641,631 shares of the company’s stock worth $52,467,000 after buying an additional 506,788 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Arcutis Biotherapeutics by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,470,138 shares of the company’s stock worth $22,977,000 after buying an additional 48,868 shares during the period.

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.