Arcutis Biotherapeutics (NASDAQ:ARQT) Insider Patrick Burnett Sells 2,490 Shares of Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Patrick Burnett sold 2,490 shares of Arcutis Biotherapeutics stock in a transaction on Monday, January 5th. The shares were sold at an average price of $28.98, for a total value of $72,160.20. Following the completion of the transaction, the insider owned 94,120 shares of the company’s stock, valued at approximately $2,727,597.60. The trade was a 2.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Wednesday, December 31st, Patrick Burnett sold 1,697 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $29.20, for a total value of $49,552.40.
• On Monday, December 15th, Patrick Burnett sold 11,500 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $28.94, for a total transaction of $332,810.00.
• On Thursday, November 6th, Patrick Burnett sold 17,250 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $24.18, for a total transaction of $417,105.00.
• On Wednesday, November 5th, Patrick Burnett sold 3,864 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $23.72, for a total transaction of $91,654.08.
• On Monday, November 3rd, Patrick Burnett sold 2,622 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $24.72, for a total transaction of $64,815.84.

Arcutis Biotherapeutics Stock Up 1.2%

NASDAQ:ARQT opened at $29.58 on Thursday. The company has a market cap of $3.62 billion, a price-to-earnings ratio of -82.17 and a beta of 1.71. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.28 and a current ratio of 3.50. The stock’s fifty day moving average price is $28.11 and its two-hundred day moving average price is $20.76. Arcutis Biotherapeutics, Inc. has a 52-week low of $11.13 and a 52-week high of $31.77.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its earnings results on Tuesday, October 28th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.16. The company had revenue of $99.22 million during the quarter, compared to the consensus estimate of $86.69 million. Arcutis Biotherapeutics had a negative return on equity of 29.69% and a negative net margin of 13.94%. On average, analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Institutional investors have recently modified their holdings of the business. Johnson Investment Counsel Inc. bought a new position in Arcutis Biotherapeutics in the third quarter valued at approximately $30,000. Jones Financial Companies Lllp lifted its position in Arcutis Biotherapeutics by 1,291.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 7,067 shares of the company’s stock valued at $124,000 after acquiring an additional 6,559 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Arcutis Biotherapeutics by 10.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,828 shares of the company’s stock worth $124,000 after purchasing an additional 820 shares during the period. Atlas Wealth LLC bought a new position in Arcutis Biotherapeutics during the 2nd quarter worth about $138,000. Finally, Cookson Peirce & Co. Inc. bought a new position in Arcutis Biotherapeutics during the 3rd quarter worth about $188,000.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ARQT. Mizuho lifted their price target on shares of Arcutis Biotherapeutics from $32.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, November 28th. Needham & Company LLC upped their price objective on Arcutis Biotherapeutics from $22.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, October 28th. HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of Arcutis Biotherapeutics in a research note on Wednesday, October 29th. The Goldman Sachs Group boosted their target price on Arcutis Biotherapeutics from $19.00 to $29.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Finally, Wall Street Zen raised Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.00.

Arcutis Biotherapeutics Company Profile

Arcutis Biotherapeutics is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for immuno-inflammatory skin diseases. The company’s research and development efforts center on targeted treatments that address the underlying biology of conditions such as plaque psoriasis, atopic dermatitis, seborrheic dermatitis and vitiligo. Arcutis employs a precision-medicine approach to deliver topical therapies designed to improve efficacy and tolerability compared with existing treatment options.

In August 2022, Arcutis received U.S.