Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Insider Masaru Matsuda Sells 8,338 Shares

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Masaru Matsuda sold 8,338 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $12.70, for a total value of $105,892.60. Following the transaction, the insider now directly owns 178,692 shares of the company’s stock, valued at $2,269,388.40. The trade was a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Masaru Matsuda also recently made the following trade(s):

• On Tuesday, November 19th, Masaru Matsuda sold 1,775 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $9.68, for a total value of $17,182.00.

Arcutis Biotherapeutics Stock Performance

Shares of Arcutis Biotherapeutics stock opened at $13.18 on Thursday. 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, Inc. has a 52 week low of $5.38 and a 52 week high of $16.20. The firm’s 50 day moving average is $13.67 and its two-hundred day moving average is $11.11. The firm has a market capitalization of $1.54 billion, a P/E ratio of -7.36 and a beta of 1.29.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.09. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. The firm had revenue of $44.76 million for the quarter, compared to analyst estimates of $38.05 million. Research analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on ARQT shares. HC Wainwright reaffirmed a “buy” rating and issued a $19.00 target price on shares of Arcutis Biotherapeutics in a report on Monday, January 13th. Mizuho raised their price objective on shares of Arcutis Biotherapeutics from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Tuesday, January 7th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $18.00 target price on shares of Arcutis Biotherapeutics in a research note on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.60.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Hedge funds have recently made changes to their positions in the company. Venturi Wealth Management LLC purchased a new stake in shares of Arcutis Biotherapeutics in the 4th quarter valued at about $46,000. Rhumbline Advisers increased its position in Arcutis Biotherapeutics by 2.8% during the fourth quarter. Rhumbline Advisers now owns 168,052 shares of the company’s stock worth $2,341,000 after buying an additional 4,598 shares during the period. Fishman Jay A Ltd. MI lifted its stake in Arcutis Biotherapeutics by 28.3% in the fourth quarter. Fishman Jay A Ltd. MI now owns 536,400 shares of the company’s stock valued at $7,472,000 after buying an additional 118,400 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Arcutis Biotherapeutics by 5.8% in the fourth quarter. Jennison Associates LLC now owns 12,339,792 shares of the company’s stock valued at $171,893,000 after acquiring an additional 676,295 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its position in shares of Arcutis Biotherapeutics by 10.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 24,818 shares of the company’s stock worth $346,000 after acquiring an additional 2,336 shares during 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.