Howard G. Welgus Sells 10,000 Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Howard G. Welgus sold 10,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.67, for a total transaction of $146,700.00. Following the completion of the transaction, the director now directly owns 151,944 shares in the company, valued at $2,229,018.48. This trade represents a 6.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ:ARQT opened at $15.76 on Wednesday. The stock has a market capitalization of $1.84 billion, a P/E ratio of -8.80 and a beta of 1.30. The business has a 50-day moving average of $12.13 and a two-hundred day moving average of $10.56. Arcutis Biotherapeutics, Inc. has a fifty-two week low of $3.11 and a fifty-two week high of $16.20. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38.

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. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. The firm had revenue of $44.76 million during the quarter, compared to analyst estimates of $38.05 million. On average, equities research analysts predict that Arcutis Biotherapeutics, Inc. will post -1.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ARQT shares. Mizuho boosted their target price on Arcutis Biotherapeutics from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Tuesday. HC Wainwright began coverage on Arcutis Biotherapeutics in a research note on Monday, December 30th. They issued a “buy” rating and a $19.00 price target for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price objective on shares of Arcutis Biotherapeutics in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $16.60.

Institutional Trading of Arcutis Biotherapeutics

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

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.