Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Insider Sells $23,674.00 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Patrick Burnett sold 1,691 shares of Arcutis Biotherapeutics stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $14.00, for a total transaction of $23,674.00. Following the completion of the transaction, the insider now directly owns 126,978 shares of the company’s stock, valued at $1,777,692. The trade was a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, November 22nd, Patrick Burnett sold 16,023 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $10.14, for a total transaction of $162,473.22.
• On Friday, November 15th, Patrick Burnett sold 100 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $10.03, for a total value of $1,003.00.

Arcutis Biotherapeutics Stock Up 4.5 %

Shares of NASDAQ:ARQT opened at $14.56 on Friday. The firm has a market capitalization of $1.70 billion, a PE ratio of -8.13 and a beta of 1.32. The business has a 50 day simple moving average of $11.74 and a two-hundred day simple moving average of $10.39. Arcutis Biotherapeutics, Inc. has a 1 year low of $3.11 and a 1 year high of $15.79. 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 quarterly earnings data on Wednesday, November 6th. The company reported ($0.33) earnings per share (EPS) 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. On average, equities analysts predict that Arcutis Biotherapeutics, Inc. will post -1.34 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on ARQT. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Arcutis Biotherapeutics in a research note on Thursday, November 7th. HC Wainwright initiated coverage on Arcutis Biotherapeutics in a research report on Monday. They issued a “buy” rating and a $19.00 price target for the company. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $16.20.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. boosted its position in Arcutis Biotherapeutics by 9.9% in the 3rd quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock valued at $119,000 after buying an additional 1,155 shares during the period. Point72 DIFC Ltd bought a new stake in shares of Arcutis Biotherapeutics during the third quarter valued at approximately $25,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Arcutis Biotherapeutics by 1.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 276,691 shares of the company’s stock valued at $2,573,000 after purchasing an additional 2,912 shares during the period. Dark Forest Capital Management LP grew its stake in Arcutis Biotherapeutics by 29.9% in the second quarter. Dark Forest Capital Management LP now owns 27,612 shares of the company’s stock worth $257,000 after purchasing an additional 6,362 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Arcutis Biotherapeutics by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 859,846 shares of the company’s stock worth $7,997,000 after purchasing an additional 8,522 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.