Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Sells $130,000.00 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Howard G. Welgus sold 10,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $13.00, for a total value of $130,000.00. Following the transaction, the director now owns 131,944 shares of the company’s stock, valued at approximately $1,715,272. This trade represents a 7.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Arcutis Biotherapeutics Stock Performance

NASDAQ ARQT traded up $0.57 during trading hours on Tuesday, hitting $13.40. The company had a trading volume of 2,870,772 shares, compared to its average volume of 2,236,888. The firm has a market cap of $1.59 billion, a P/E ratio of -7.49 and a beta of 1.29. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67. Arcutis Biotherapeutics, Inc. has a fifty-two week low of $6.99 and a fifty-two week high of $16.20. The business has a fifty day simple moving average of $13.49 and a 200-day simple moving average of $11.51.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.19. The company had revenue of $71.36 million for the quarter, compared to analyst estimates of $60.52 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. Equities analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

Wall Street Analyst Weigh In

ARQT has been the topic of several research analyst reports. The Goldman Sachs Group raised their price objective on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday, February 27th. HC Wainwright restated a “buy” rating and set a $19.00 price objective on shares of Arcutis Biotherapeutics in a research note on Wednesday, February 26th. Needham & Company LLC restated a “buy” rating and set a $20.00 price objective on shares of Arcutis Biotherapeutics in a research note on Wednesday, February 26th. Mizuho raised their price objective on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Arcutis Biotherapeutics in a research report on Monday, February 24th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.00.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ARQT. Point72 DIFC Ltd acquired a new position in shares of Arcutis Biotherapeutics during the third quarter valued at $25,000. GF Fund Management CO. LTD. acquired a new position in Arcutis Biotherapeutics during the fourth quarter worth about $34,000. Venturi Wealth Management LLC acquired a new position in Arcutis Biotherapeutics during the fourth quarter worth about $46,000. Erste Asset Management GmbH acquired a new position in Arcutis Biotherapeutics during the third quarter worth about $104,000. Finally, Victory Capital Management Inc. grew its holdings in Arcutis Biotherapeutics by 9.9% during the third 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 during the period.

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.