Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Insider Sells $17,182.00 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Masaru Matsuda sold 1,775 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $9.68, for a total transaction of $17,182.00. Following the completion of the transaction, the insider now owns 181,373 shares in the company, valued at $1,755,690.64. This represents a 0.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Masaru Matsuda also recently made the following trade(s):

• On Monday, November 4th, Masaru Matsuda sold 5,015 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $8.68, for a total value of $43,530.20.

Arcutis Biotherapeutics Stock Performance

ARQT opened at $10.09 on Wednesday. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of -5.64 and a beta of 1.18. Arcutis Biotherapeutics, Inc. has a 12-month low of $1.76 and a 12-month high of $13.17. The business has a 50 day moving average of $9.58 and a 200-day moving average of $9.39.

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 the consensus estimate of ($0.42) by $0.09. The firm had revenue of $44.76 million during the quarter, compared to analysts’ expectations of $38.05 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. On average, equities research analysts expect that Arcutis Biotherapeutics, Inc. will post -1.34 earnings per share for the current year.

Wall Street Analyst Weigh In

ARQT has been the topic of a number of recent analyst reports. Jefferies Financial Group began coverage on shares of Arcutis Biotherapeutics in a research report on Wednesday, August 28th. They set a “buy” rating and a $15.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and set a $18.00 target price on shares of Arcutis Biotherapeutics in a report on Thursday, November 7th.

Institutional Investors Weigh In On Arcutis Biotherapeutics

A number of institutional investors have recently made changes to their positions in the stock. Point72 DIFC Ltd bought a new position in Arcutis Biotherapeutics during the 3rd quarter worth approximately $25,000. CWM LLC lifted its stake in shares of Arcutis Biotherapeutics by 6,740.0% in the 2nd quarter. CWM LLC now owns 4,104 shares of the company’s stock valued at $38,000 after purchasing an additional 4,044 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in shares of Arcutis Biotherapeutics by 55.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 7,871 shares of the company’s stock worth $78,000 after buying an additional 2,800 shares in the last quarter. Algert Global LLC acquired a new stake in Arcutis Biotherapeutics in the second quarter valued at approximately $97,000. Finally, Erste Asset Management GmbH bought a new position in Arcutis Biotherapeutics in the 3rd quarter valued at about $104,000.

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.