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

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Howard G. Welgus sold 10,000 shares of Arcutis Biotherapeutics stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.67, for a total value of $146,700.00. Following the completion of the transaction, the director now owns 151,944 shares of the company’s stock, valued at $2,229,018.48. The trade was a 6.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Arcutis Biotherapeutics Price Performance

ARQT stock opened at $14.71 on Tuesday. The business has a 50 day moving average price of $11.98 and a 200 day moving average price of $10.51. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of -8.22 and a beta of 1.30. Arcutis Biotherapeutics, Inc. has a fifty-two week low of $3.11 and a fifty-two week high of $15.79. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.09. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. The company had revenue of $44.76 million during the quarter, compared to analysts’ expectations of $38.05 million. Equities research analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. HC Wainwright began coverage on Arcutis Biotherapeutics in a research note on Monday, December 30th. They issued a “buy” rating and a $19.00 price objective for the company. Needham & Company LLC restated a “buy” rating and set a $18.00 target price on shares of Arcutis Biotherapeutics in a research note on Thursday, November 7th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Arcutis Biotherapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $16.20.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Suvretta Capital Management LLC lifted its stake in Arcutis Biotherapeutics by 7.2% in the third quarter. Suvretta Capital Management LLC now owns 10,721,511 shares of the company’s stock valued at $99,710,000 after buying an additional 717,019 shares during the last quarter. GSA Capital Partners LLP increased its holdings in shares of Arcutis Biotherapeutics by 730.0% in the third quarter. GSA Capital Partners LLP now owns 237,174 shares of the company’s stock valued at $2,206,000 after purchasing an additional 208,599 shares during the period. Rubric Capital Management LP increased its holdings in shares of Arcutis Biotherapeutics by 11.7% in the third 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. Wesbanco Bank Inc. acquired a new position in shares of Arcutis Biotherapeutics in the third quarter valued at approximately $955,000. Finally, Algert Global LLC increased its holdings in shares of Arcutis Biotherapeutics by 595.9% in the third quarter. Algert Global LLC now owns 72,480 shares of the company’s stock valued at $674,000 after purchasing an additional 62,065 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.