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 company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $13.00, for a total transaction of $130,000.00. Following the sale, the director now directly owns 131,944 shares of the company’s stock, valued at approximately $1,715,272. This trade represents a 7.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Arcutis Biotherapeutics Price Performance

ARQT stock opened at $14.50 on Friday. The company has a market capitalization of $1.72 billion, a PE ratio of -8.10 and a beta of 1.48. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67. The stock’s 50 day moving average is $13.45 and its two-hundred day moving average is $11.57. Arcutis Biotherapeutics, Inc. has a 52-week low of $6.99 and a 52-week high of $16.20.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.19. The firm had revenue of $71.36 million for the quarter, compared to the consensus estimate of $60.52 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. Analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Several large investors have recently modified their holdings of the stock. Point72 Asset Management L.P. increased its holdings in Arcutis Biotherapeutics by 617.5% in the fourth quarter. Point72 Asset Management L.P. now owns 1,753,522 shares of the company’s stock valued at $24,427,000 after buying an additional 1,509,136 shares during the last quarter. Cercano Management LLC acquired a new position in shares of Arcutis Biotherapeutics in the 4th quarter worth approximately $17,487,000. Millennium Management LLC increased its holdings in shares of Arcutis Biotherapeutics by 101.3% in the 4th quarter. Millennium Management LLC now owns 2,310,163 shares of the company’s stock valued at $32,181,000 after acquiring an additional 1,162,690 shares during the last quarter. Rubric Capital Management LP raised its position in shares of 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 acquiring an additional 1,150,000 shares in the last quarter. Finally, Driehaus Capital Management LLC acquired a new stake in shares of Arcutis Biotherapeutics during the 4th quarter valued at approximately $15,278,000.

Wall Street Analysts Forecast Growth

ARQT has been the subject of a number of recent research reports. HC Wainwright reiterated a “buy” rating and issued a $19.00 target price on shares of Arcutis Biotherapeutics in a research note on Wednesday, February 26th. Guggenheim reaffirmed a “buy” rating on shares of Arcutis Biotherapeutics in a research report on Monday, February 24th. Mizuho lifted their price objective on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. The Goldman Sachs Group upped their target price on shares of Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price target on shares of Arcutis Biotherapeutics in a report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.00.

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.