Insider Selling: Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Insider Sells 1,728 Shares of Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Patrick Burnett sold 1,728 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $8.29, for a total transaction of $14,325.12. Following the sale, the insider now directly owns 194,859 shares in the company, valued at approximately $1,615,381.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Thursday, May 30th, Patrick Burnett sold 23,000 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $8.75, for a total transaction of $201,250.00.

Arcutis Biotherapeutics Stock Down 1.0 %

ARQT traded down $0.08 on Wednesday, reaching $8.34. The company’s stock had a trading volume of 1,876,644 shares, compared to its average volume of 3,698,390. The company has a quick ratio of 9.61, a current ratio of 9.89 and a debt-to-equity ratio of 0.90. Arcutis Biotherapeutics, Inc. has a fifty-two week low of $1.76 and a fifty-two week high of $13.17. The stock has a 50 day moving average of $9.43 and a two-hundred day moving average of $9.29. The company has a market capitalization of $965.47 million, a price-to-earnings ratio of -2.87 and a beta of 1.18.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its earnings results on Wednesday, August 14th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.06. The business had revenue of $30.86 million during the quarter, compared to analysts’ expectations of $31.00 million. Arcutis Biotherapeutics had a negative net margin of 204.35% and a negative return on equity of 197.28%. During the same quarter in the prior year, the business posted ($1.16) EPS. As a group, analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ARQT shares. Mizuho boosted their price objective on Arcutis Biotherapeutics from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price target on shares of Arcutis Biotherapeutics in a research note on Thursday, August 15th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.17.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Several large investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of Arcutis Biotherapeutics by 3.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 47,753 shares of the company’s stock valued at $474,000 after purchasing an additional 1,681 shares during the last quarter. ProShare Advisors LLC increased its position in Arcutis Biotherapeutics by 9.8% during the first quarter. ProShare Advisors LLC now owns 20,990 shares of the company’s stock worth $208,000 after buying an additional 1,870 shares during the period. Ameritas Investment Partners Inc. increased its stake in Arcutis Biotherapeutics by 55.2% in the first quarter. Ameritas Investment Partners Inc. now owns 7,871 shares of the company’s stock valued at $78,000 after purchasing an additional 2,800 shares during the period. Amalgamated Bank lifted its position in Arcutis Biotherapeutics by 48.9% during the 4th quarter. Amalgamated Bank now owns 11,078 shares of the company’s stock worth $36,000 after acquiring an additional 3,639 shares during the period. Finally, CWM LLC lifted its holdings in shares of Arcutis Biotherapeutics by 6,740.0% during the second quarter. CWM LLC now owns 4,104 shares of the company’s stock worth $38,000 after purchasing an additional 4,044 shares during the period.

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.