Insider Selling: Arcutis Biotherapeutics (NASDAQ:ARQT) Director Sells $27,914.88 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Terrie Curran sold 1,072 shares of Arcutis Biotherapeutics stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $26.04, for a total value of $27,914.88. Following the transaction, the director owned 23,526 shares in the company, valued at $612,617.04. This trade represents a 4.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Arcutis Biotherapeutics Stock Performance

Shares of ARQT opened at $25.14 on Thursday. The business has a 50-day simple moving average of $26.72 and a two-hundred day simple moving average of $24.65. The company has a quick ratio of 2.67, a current ratio of 2.92 and a debt-to-equity ratio of 0.46. Arcutis Biotherapeutics, Inc. has a 52 week low of $15.10 and a 52 week high of $31.77. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of 119.72 and a beta of 1.49.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. The firm had revenue of $129.86 million for the quarter, compared to analysts’ expectations of $118.85 million. Arcutis Biotherapeutics had a return on equity of 15.05% and a net margin of 6.15%. On average, analysts expect that Arcutis Biotherapeutics, Inc. will post 0.4 EPS for the current year.

Wall Street Analyst Weigh In

ARQT has been the subject of a number of analyst reports. Wall Street Zen raised shares of Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Weiss Ratings raised shares of Arcutis Biotherapeutics from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 20th. Guggenheim increased their price target on Arcutis Biotherapeutics from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Needham & Company LLC raised their price target on Arcutis Biotherapeutics from $36.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Morgan Stanley boosted their price objective on Arcutis Biotherapeutics from $34.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $35.57.

Institutional Investors Weigh In On Arcutis Biotherapeutics

A number of hedge funds have recently made changes to their positions in ARQT. SBI Securities Co. Ltd. grew its holdings in Arcutis Biotherapeutics by 325.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,089 shares of the company’s stock valued at $32,000 after buying an additional 833 shares in the last quarter. Global Retirement Partners LLC bought a new position in shares of Arcutis Biotherapeutics during the 4th quarter valued at approximately $35,000. EverSource Wealth Advisors LLC grew its holdings in shares of Arcutis Biotherapeutics by 124.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the company’s stock valued at $37,000 after purchasing an additional 698 shares in the last quarter. NewEdge Advisors LLC increased its position in Arcutis Biotherapeutics by 209.0% in the fourth quarter. NewEdge Advisors LLC now owns 1,545 shares of the company’s stock worth $45,000 after purchasing an additional 1,045 shares during the last quarter. Finally, Nykredit A S bought a new stake in Arcutis Biotherapeutics in the second quarter worth $63,000.

About Arcutis Biotherapeutics

Arcutis Biotherapeutics is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for immuno-inflammatory skin diseases. The company’s research and development efforts center on targeted treatments that address the underlying biology of conditions such as plaque psoriasis, atopic dermatitis, seborrheic dermatitis and vitiligo. Arcutis employs a precision-medicine approach to deliver topical therapies designed to improve efficacy and tolerability compared with existing treatment options.

In August 2022, Arcutis received U.S.