Insider Selling: Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Insider Sells $21,132.00 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Todd Franklin Watanabe sold 1,200 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $17.61, for a total value of $21,132.00. Following the completion of the transaction, the insider now directly owns 928,914 shares of the company’s stock, valued at approximately $16,358,175.54. This trade represents a 0.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Todd Franklin Watanabe also recently made the following trade(s):

• On Friday, December 20th, Todd Franklin Watanabe sold 15,000 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $15.17, for a total transaction of $227,550.00.

Arcutis Biotherapeutics Price Performance

ARQT opened at $17.01 on Friday. Arcutis Biotherapeutics, Inc. has a 52-week low of $6.99 and a 52-week high of $17.70. The company has a 50 day moving average of $13.67 and a two-hundred day moving average of $12.04. The company has a market cap of $2.02 billion, a P/E ratio of -9.50 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.

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

Wall Street Analyst Weigh In

ARQT has been the subject of a number of recent research reports. Mizuho lifted their price target on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. The Goldman Sachs Group boosted their price target on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Thursday, February 27th. Guggenheim restated a “buy” rating on shares of Arcutis Biotherapeutics in a report on Monday, February 24th. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 target price on shares of Arcutis Biotherapeutics in a research note on Wednesday, February 26th. Finally, Jefferies Financial Group upped their price target on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $18.80.

Institutional Investors Weigh In On Arcutis Biotherapeutics

A number of large investors have recently modified their holdings of ARQT. Point72 DIFC Ltd purchased a new position in Arcutis Biotherapeutics in the 3rd quarter worth approximately $25,000. GF Fund Management CO. LTD. purchased a new position in shares of Arcutis Biotherapeutics in the fourth quarter valued at $34,000. Venturi Wealth Management LLC acquired a new stake in Arcutis Biotherapeutics during the 4th quarter valued at $46,000. Erste Asset Management GmbH purchased a new stake in Arcutis Biotherapeutics during the 3rd quarter worth $104,000. Finally, Victory Capital Management Inc. lifted 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 buying an additional 1,155 shares in the last quarter.

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.