Arcutis Biotherapeutics (NASDAQ:ARQT) Insider Sells $32,127.60 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Masaru Matsuda sold 1,230 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $26.12, for a total transaction of $32,127.60. Following the sale, the insider owned 126,171 shares of the company’s stock, valued at $3,295,586.52. This trade represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Arcutis Biotherapeutics Stock Performance

ARQT stock traded up $1.07 during midday trading on Wednesday, reaching $27.10. 2,445,454 shares of the company’s stock traded hands, compared to its average volume of 1,334,721. The company has a current ratio of 2.68, a quick ratio of 2.46 and a debt-to-equity ratio of 0.54. Arcutis Biotherapeutics, Inc. has a 52-week low of $13.69 and a 52-week high of $31.77. The stock has a market cap of $3.39 billion, a P/E ratio of -903.03 and a beta of 1.49. The stock’s 50-day moving average is $25.87 and its 200 day moving average is $24.68.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.05. The business had revenue of $129.86 million for the quarter, compared to analysts’ expectations of $118.85 million. Arcutis Biotherapeutics had a negative net margin of 0.57% and a negative return on equity of 1.41%. As a group, analysts anticipate that Arcutis Biotherapeutics, Inc. will post 0.16 EPS for the current year.

Institutional Trading of Arcutis Biotherapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. boosted its stake in Arcutis Biotherapeutics by 325.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,089 shares of the company’s stock worth $32,000 after purchasing an additional 833 shares during the period. Global Retirement Partners LLC purchased a new stake in Arcutis Biotherapeutics during the 4th quarter valued at approximately $35,000. EverSource Wealth Advisors LLC raised its position in shares of Arcutis Biotherapeutics by 124.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the company’s stock valued at $37,000 after buying an additional 698 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Arcutis Biotherapeutics by 209.0% during the fourth quarter. NewEdge Advisors LLC now owns 1,545 shares of the company’s stock valued at $45,000 after buying an additional 1,045 shares during the last quarter. Finally, Truvestments Capital LLC lifted its holdings in shares of Arcutis Biotherapeutics by 114.2% in the fourth quarter. Truvestments Capital LLC now owns 3,012 shares of the company’s stock worth $87,000 after buying an additional 1,606 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $36.00 price objective on shares of Arcutis Biotherapeutics in a research report on Thursday, May 7th. Wall Street Zen raised shares of Arcutis Biotherapeutics from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a research note on Wednesday, June 24th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

About Arcutis Biotherapeutics

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.