Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) SVP Sells $68,607.20 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) SVP Larry Todd Edwards sold 7,640 shares of the company’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $8.98, for a total value of $68,607.20. Following the sale, the senior vice president now owns 140,360 shares of the company’s stock, valued at $1,260,432.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Arcutis Biotherapeutics Stock Up 4.6 %

Shares of ARQT stock opened at $9.92 on Thursday. The stock’s 50-day simple moving average is $9.55 and its 200-day simple moving average is $6.51. The company has a debt-to-equity ratio of 0.90, a quick ratio of 9.61 and a current ratio of 9.89. The firm has a market capitalization of $1.15 billion, a PE ratio of -3.39 and a beta of 1.18. Arcutis Biotherapeutics, Inc. has a fifty-two week low of $1.76 and a fifty-two week high of $13.17.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings data on Tuesday, May 14th. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.28. The business had revenue of $49.57 million for the quarter. Arcutis Biotherapeutics had a negative return on equity of 197.28% and a negative net margin of 204.35%. During the same period in the prior year, the company posted ($1.31) earnings per share. Equities analysts expect that Arcutis Biotherapeutics, Inc. will post -2.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ARQT. The Goldman Sachs Group upped their price objective on Arcutis Biotherapeutics from $6.00 to $11.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Mizuho increased their price target on Arcutis Biotherapeutics from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Finally, Needham & Company LLC increased their price target on Arcutis Biotherapeutics from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Arcutis Biotherapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $27.00.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Cape Investment Advisory Inc. acquired a new stake in Arcutis Biotherapeutics during the fourth quarter worth about $26,000. Cantor Fitzgerald L. P. acquired a new stake in Arcutis Biotherapeutics during the fourth quarter worth about $33,000. Victory Capital Management Inc. acquired a new stake in Arcutis Biotherapeutics during the fourth quarter worth about $34,000. China Universal Asset Management Co. Ltd. grew its holdings in Arcutis Biotherapeutics by 586.8% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,920 shares of the company’s stock worth $35,000 after acquiring an additional 9,330 shares during the period. Finally, Amalgamated Bank grew its holdings in Arcutis Biotherapeutics by 48.9% during the fourth 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.

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.