Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Insider Todd Franklin Watanabe Sells 15,000 Shares of Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Todd Franklin Watanabe sold 15,000 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $15.17, for a total value of $227,550.00. Following the sale, the insider now owns 823,430 shares in the company, valued at $12,491,433.10. The trade was a 1.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Arcutis Biotherapeutics Stock Down 0.1 %

NASDAQ:ARQT opened at $14.97 on Tuesday. The company has a market cap of $1.75 billion, a price-to-earnings ratio of -8.36 and a beta of 1.32. Arcutis Biotherapeutics, Inc. has a twelve month low of $2.96 and a twelve month high of $15.79. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67. The stock has a fifty day simple moving average of $10.84 and a 200-day simple moving average of $10.06.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.09. The company had revenue of $44.76 million during the quarter, compared to analyst estimates of $38.05 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. Analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.34 EPS for the current year.

Institutional Trading of Arcutis Biotherapeutics

Large investors have recently modified their holdings of the company. Point72 DIFC Ltd bought a new stake in Arcutis Biotherapeutics during the 3rd quarter valued at $25,000. Algert Global LLC bought a new stake in shares of Arcutis Biotherapeutics in the second quarter valued at about $97,000. Erste Asset Management GmbH bought a new stake in shares of Arcutis Biotherapeutics in the third quarter valued at about $104,000. Victory Capital Management Inc. grew its holdings in Arcutis Biotherapeutics by 9.9% during the 3rd quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock worth $119,000 after acquiring an additional 1,155 shares in the last quarter. Finally, Creative Planning purchased a new position in Arcutis Biotherapeutics during the 3rd quarter valued at about $127,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $18.00 target price on shares of Arcutis Biotherapeutics in a research note on Thursday, November 7th. Jefferies Financial Group started coverage on shares of Arcutis Biotherapeutics in a research report on Wednesday, August 28th. They issued a “buy” rating and a $15.00 price objective on the stock.

About Arcutis Biotherapeutics

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.