Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Insider Sells $184,119.68 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Patrick Burnett sold 12,242 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $15.04, for a total value of $184,119.68. Following the sale, the insider now owns 121,936 shares in the company, valued at approximately $1,833,917.44. This represents a 9.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, March 3rd, Patrick Burnett sold 2,819 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $13.03, for a total transaction of $36,731.57.
• On Tuesday, December 31st, Patrick Burnett sold 1,691 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $14.00, for a total transaction of $23,674.00.

Arcutis Biotherapeutics Stock Up 4.6 %

Shares of ARQT opened at $16.60 on Thursday. The firm has a market cap of $1.97 billion, a P/E ratio of -9.27 and a beta of 1.48. Arcutis Biotherapeutics, Inc. has a 1 year low of $6.99 and a 1 year high of $17.70. The stock has a 50 day simple moving average of $13.58 and a two-hundred day simple moving average of $11.96. 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 issued its earnings results on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.19. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. The company had revenue of $71.36 million for the quarter, compared to analysts’ expectations of $60.52 million. On average, analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arcutis Biotherapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC bought a new position in Arcutis Biotherapeutics during the 4th quarter worth approximately $291,000. GF Fund Management CO. LTD. purchased a new stake in shares of Arcutis Biotherapeutics during the fourth quarter valued at approximately $34,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Arcutis Biotherapeutics by 1.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 280,100 shares of the company’s stock valued at $3,902,000 after purchasing an additional 3,409 shares during the period. Voloridge Investment Management LLC grew its holdings in shares of Arcutis Biotherapeutics by 126.5% in the fourth quarter. Voloridge Investment Management LLC now owns 290,938 shares of the company’s stock worth $4,053,000 after purchasing an additional 162,495 shares during the last quarter. Finally, Squarepoint Ops LLC increased its stake in shares of Arcutis Biotherapeutics by 67.2% in the fourth quarter. Squarepoint Ops LLC now owns 121,392 shares of the company’s stock worth $1,691,000 after buying an additional 48,769 shares during the period.

Wall Street Analysts Forecast Growth

ARQT has been the topic of several research analyst reports. Guggenheim reaffirmed a “buy” rating on shares of Arcutis Biotherapeutics in a report on Monday, February 24th. The Goldman Sachs Group upped their target price on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday, February 27th. Jefferies Financial Group lifted their price target on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. Mizuho upped their price objective on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $19.00 target price 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 company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.80.

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.