Insider Selling: Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Sells 10,000 Shares of Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Howard G. Welgus sold 10,000 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $9.31, for a total transaction of $93,100.00. Following the transaction, the director now directly owns 180,339 shares of the company’s stock, valued at $1,678,956.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Arcutis Biotherapeutics Price Performance

ARQT stock opened at $9.30 on Wednesday. Arcutis Biotherapeutics, Inc. has a 12 month low of $1.76 and a 12 month high of $13.17. The company has a current ratio of 9.89, a quick ratio of 9.61 and a debt-to-equity ratio of 0.90. The company has a 50-day moving average price of $8.58 and a 200 day moving average price of $7.86. The stock has a market cap of $1.08 billion, a PE ratio of -3.17 and a beta of 1.18.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings results on Tuesday, May 14th. The company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.28. Arcutis Biotherapeutics had a negative net margin of 204.35% and a negative return on equity of 197.28%. The firm had revenue of $49.57 million during the quarter. During the same period in the prior year, the firm posted ($1.31) earnings per share. Equities research analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.6 earnings per share for the current year.

Hedge Funds Weigh In On Arcutis Biotherapeutics

A number of large investors have recently made changes to their positions in ARQT. Jennison Associates LLC boosted its stake in shares of Arcutis Biotherapeutics by 104.6% during the 4th quarter. Jennison Associates LLC now owns 9,066,082 shares of the company’s stock worth $29,283,000 after purchasing an additional 4,633,907 shares during the period. Franklin Resources Inc. lifted its holdings in Arcutis Biotherapeutics by 260.2% during the 4th quarter. Franklin Resources Inc. now owns 4,655,544 shares of the company’s stock valued at $15,037,000 after buying an additional 3,363,191 shares in the last quarter. Vestal Point Capital LP bought a new stake in Arcutis Biotherapeutics during the 4th quarter valued at about $8,721,000. Opaleye Management Inc. bought a new stake in Arcutis Biotherapeutics during the 4th quarter valued at about $6,331,000. Finally, Farallon Capital Management LLC bought a new stake in Arcutis Biotherapeutics during the 1st quarter valued at about $17,640,000.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ARQT shares. Mizuho raised their target price on shares of Arcutis Biotherapeutics from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Needham & Company LLC lifted their price objective on shares of Arcutis Biotherapeutics from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Arcutis Biotherapeutics presently has an average rating of “Moderate Buy” and an average price target of $25.38.

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.