Todd Franklin Watanabe Sells 1,500 Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Todd Franklin Watanabe sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $17.52, for a total transaction of $26,280.00. Following the sale, the insider now owns 927,414 shares in the company, valued at $16,248,293.28. This represents a 0.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Todd Franklin Watanabe also recently made the following trade(s):

• On Monday, March 17th, Todd Franklin Watanabe sold 1,200 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $17.61, for a total transaction of $21,132.00.

Arcutis Biotherapeutics Stock Down 2.3 %

ARQT opened at $16.09 on Friday. The company has a market capitalization of $1.91 billion, a PE ratio of -8.99 and a beta of 1.48. 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, Inc. has a fifty-two week low of $6.99 and a fifty-two week high of $17.75. The business has a 50-day moving average of $13.92 and a 200-day moving average of $12.20.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ARQT. Summit Investment Advisors Inc. boosted its holdings in Arcutis Biotherapeutics by 8.0% in the fourth quarter. Summit Investment Advisors Inc. now owns 11,245 shares of the company’s stock worth $157,000 after purchasing an additional 837 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Arcutis Biotherapeutics by 9.9% in the third quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock worth $119,000 after buying an additional 1,155 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of Arcutis Biotherapeutics by 10.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 24,818 shares of the company’s stock worth $346,000 after acquiring an additional 2,336 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Arcutis Biotherapeutics during the 4th quarter valued at about $34,000. Finally, Point72 DIFC Ltd bought a new position in shares of Arcutis Biotherapeutics in the 3rd quarter valued at approximately $25,000.

Wall Street Analyst Weigh In

ARQT has been the subject of several recent analyst reports. Guggenheim reaffirmed a “buy” rating on shares of Arcutis Biotherapeutics in a research report on Monday, February 24th. Mizuho increased 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. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 target price on shares of Arcutis Biotherapeutics in a research note on Wednesday, February 26th. The Goldman Sachs Group increased their price target on shares of Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Thursday, February 27th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $19.00 price objective on shares of Arcutis Biotherapeutics in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $18.80.

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.