Insider Selling: Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Insider Sells 2,819 Shares of Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Patrick Burnett sold 2,819 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $13.03, for a total transaction of $36,731.57. Following the transaction, the insider now owns 167,043 shares in the company, valued at $2,176,570.29. This represents a 1.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Tuesday, December 31st, Patrick Burnett sold 1,691 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $14.00, for a total value of $23,674.00.

Arcutis Biotherapeutics Trading Down 1.9 %

Shares of Arcutis Biotherapeutics stock opened at $14.50 on Friday. The stock has a market capitalization of $1.72 billion, a PE ratio of -8.10 and a beta of 1.48. Arcutis Biotherapeutics, Inc. has a 1-year low of $6.99 and a 1-year high of $16.20. The company’s fifty day simple moving average is $13.45 and its 200-day simple moving average is $11.57. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, topping 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%. As a group, equities analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current year.

Institutional Investors Weigh In On Arcutis Biotherapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Point72 DIFC Ltd purchased a new position in shares of Arcutis Biotherapeutics in the 3rd quarter valued at $25,000. GF Fund Management CO. LTD. acquired a new position in Arcutis Biotherapeutics in the 4th quarter worth approximately $34,000. Venturi Wealth Management LLC acquired a new stake in Arcutis Biotherapeutics during the fourth quarter worth about $46,000. Erste Asset Management GmbH acquired a new stake in shares of Arcutis Biotherapeutics during the 3rd quarter valued at about $104,000. Finally, Victory Capital Management Inc. increased its holdings in Arcutis Biotherapeutics by 9.9% in the 3rd quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock worth $119,000 after acquiring an additional 1,155 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ARQT shares. Mizuho increased their price target on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. The Goldman Sachs Group boosted their target price on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Thursday, February 27th. HC Wainwright restated a “buy” rating and set a $19.00 price objective on shares of Arcutis Biotherapeutics in a research report on Wednesday, February 26th. Guggenheim reaffirmed a “buy” rating on shares of Arcutis Biotherapeutics in a research note on Monday, February 24th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price objective on shares of Arcutis Biotherapeutics in a research note on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Arcutis Biotherapeutics 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.