Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Sells $86,500.00 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Howard G. Welgus sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $8.65, for a total value of $86,500.00. Following the completion of the sale, the director now owns 171,944 shares of the company’s stock, valued at approximately $1,487,315.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Arcutis Biotherapeutics Stock Performance

ARQT stock opened at $10.40 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 8.46 and a quick ratio of 8.19. The stock has a market capitalization of $1.22 billion, a PE ratio of -4.75 and a beta of 1.18. The company has a 50 day moving average price of $9.67 and a 200 day moving average price of $9.30. Arcutis Biotherapeutics, Inc. has a fifty-two week low of $1.76 and a fifty-two week high of $13.17.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its earnings results on Wednesday, November 6th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.09. The firm had revenue of $44.76 million for the quarter, compared to analyst estimates of $38.05 million. Arcutis Biotherapeutics had a negative return on equity of 145.41% and a negative net margin of 150.51%. Analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.6 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group started coverage on shares of Arcutis Biotherapeutics in a research note on Wednesday, August 28th. They issued a “buy” rating and a $15.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and set a $18.00 price objective on shares of Arcutis Biotherapeutics in a report on Thursday. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $14.40.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Rubric Capital Management LP grew its stake in shares of Arcutis Biotherapeutics by 30.7% during the 2nd quarter. Rubric Capital Management LP now owns 9,816,672 shares of the company’s stock worth $91,295,000 after acquiring an additional 2,306,672 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Arcutis Biotherapeutics by 5.5% in the first quarter. Vanguard Group Inc. now owns 5,166,417 shares of the company’s stock valued at $51,199,000 after buying an additional 269,904 shares during the last quarter. Farallon Capital Management LLC bought a new stake in Arcutis Biotherapeutics in the 1st quarter valued at $17,640,000. Perceptive Advisors LLC lifted its holdings in Arcutis Biotherapeutics by 107.8% during the 2nd quarter. Perceptive Advisors LLC now owns 1,558,500 shares of the company’s stock valued at $14,494,000 after purchasing an additional 808,500 shares during the last quarter. Finally, Candriam S.C.A. acquired a new position in shares of Arcutis Biotherapeutics in the second quarter valued at approximately $12,159,000.

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.