Arcutis Biotherapeutics (NASDAQ:ARQT) Insider Sells $49,552.40 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Patrick Burnett sold 1,697 shares of Arcutis Biotherapeutics stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $29.20, for a total value of $49,552.40. Following the completion of the transaction, the insider owned 96,610 shares in the company, valued at $2,821,012. This trade represents a 1.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Patrick Burnett also recently made the following trade(s):

• On Monday, December 15th, Patrick Burnett sold 11,500 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $28.94, for a total transaction of $332,810.00.
• On Thursday, November 6th, Patrick Burnett sold 17,250 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $24.18, for a total transaction of $417,105.00.
• On Wednesday, November 5th, Patrick Burnett sold 3,864 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $23.72, for a total transaction of $91,654.08.
• On Monday, November 3rd, Patrick Burnett sold 2,622 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $24.72, for a total transaction of $64,815.84.

Arcutis Biotherapeutics Stock Down 0.1%

Shares of ARQT stock traded down $0.04 during trading hours on Friday, reaching $29.00. 1,652,387 shares of the company’s stock were exchanged, compared to its average volume of 1,872,300. Arcutis Biotherapeutics, Inc. has a fifty-two week low of $11.13 and a fifty-two week high of $31.77. The stock’s 50 day moving average is $27.55 and its 200-day moving average is $20.27. The company has a current ratio of 3.50, a quick ratio of 3.28 and a debt-to-equity ratio of 0.68. The company has a market cap of $3.55 billion, a price-to-earnings ratio of -80.56 and a beta of 1.71.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its earnings results on Tuesday, October 28th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.16. Arcutis Biotherapeutics had a negative return on equity of 29.69% and a negative net margin of 13.94%.The firm had revenue of $99.22 million for the quarter, compared to the consensus estimate of $86.69 million. Analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

ARQT has been the subject of several research analyst reports. The Goldman Sachs Group increased their price objective on shares of Arcutis Biotherapeutics from $19.00 to $29.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price target on shares of Arcutis Biotherapeutics in a report on Wednesday, October 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a research note on Monday. Wall Street Zen lowered shares of Arcutis Biotherapeutics from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 27th. Finally, Mizuho raised their target price on Arcutis Biotherapeutics from $32.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, November 28th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.00.

Institutional Trading of Arcutis Biotherapeutics

Several large investors have recently made changes to their positions in ARQT. Tudor Investment Corp ET AL acquired a new stake in shares of Arcutis Biotherapeutics in the third quarter worth $1,319,000. CIBC Bancorp USA Inc. acquired a new position in Arcutis Biotherapeutics during the third quarter valued at $215,000. Woodline Partners LP boosted its holdings in Arcutis Biotherapeutics by 53.1% in the third quarter. Woodline Partners LP now owns 314,619 shares of the company’s stock valued at $5,931,000 after purchasing an additional 109,109 shares during the last quarter. Dark Forest Capital Management LP acquired a new stake in Arcutis Biotherapeutics during the 3rd quarter worth about $516,000. Finally, PharVision Advisers LLC acquired a new stake in Arcutis Biotherapeutics during the 3rd quarter worth about $245,000.

Arcutis Biotherapeutics Company Profile

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.