Larry Todd Edwards Sells 2,052 Shares of Arcutis Biotherapeutics (NASDAQ:ARQT) Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Larry Todd Edwards sold 2,052 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $25.50, for a total transaction of $52,326.00. Following the sale, the insider owned 148,865 shares in the company, valued at $3,796,057.50. This represents a 1.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Larry Todd Edwards also recently made the following trade(s):

• On Thursday, November 6th, Larry Todd Edwards sold 29,131 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $25.16, for a total value of $732,935.96.

Arcutis Biotherapeutics Trading Down 0.4%

Shares of NASDAQ ARQT traded down $0.11 during trading hours on Wednesday, reaching $26.08. The stock had a trading volume of 2,300,007 shares, compared to its average volume of 1,508,695. Arcutis Biotherapeutics, Inc. has a 52-week low of $11.13 and a 52-week high of $31.77. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of -72.44 and a beta of 1.70. The business’s fifty day moving average price is $28.32 and its two-hundred day moving average price is $22.41. The company has a current ratio of 3.50, a quick ratio of 3.28 and a debt-to-equity ratio of 0.68.

Institutional Trading of Arcutis Biotherapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Perpetual Ltd lifted its position in shares of Arcutis Biotherapeutics by 7,534.3% during the third quarter. Perpetual Ltd now owns 2,024,606 shares of the company’s stock worth $38,164,000 after purchasing an additional 1,998,086 shares in the last quarter. Jennison Associates LLC boosted its position in Arcutis Biotherapeutics by 10.3% in the 3rd quarter. Jennison Associates LLC now owns 12,254,119 shares of the company’s stock valued at $230,990,000 after buying an additional 1,144,714 shares during the period. Frazier Life Sciences Management L.P. increased its position in shares of Arcutis Biotherapeutics by 12.4% during the second quarter. Frazier Life Sciences Management L.P. now owns 9,874,511 shares of the company’s stock worth $138,441,000 after acquiring an additional 1,089,227 shares during the period. Voloridge Investment Management LLC acquired a new stake in shares of Arcutis Biotherapeutics in the third quarter valued at $15,711,000. Finally, Bank of America Corp DE boosted its holdings in Arcutis Biotherapeutics by 133.5% in the second quarter. Bank of America Corp DE now owns 1,202,513 shares of the company’s stock valued at $16,859,000 after purchasing an additional 687,562 shares during the period.

Analysts Set New Price Targets

ARQT has been the topic of a number of research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a report on Monday, December 29th. Needham & Company LLC raised their price target on shares of Arcutis Biotherapeutics from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Wall Street Zen downgraded shares of Arcutis Biotherapeutics from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd. The Goldman Sachs Group increased their price objective on shares of Arcutis Biotherapeutics from $19.00 to $29.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Finally, Mizuho raised their target price on shares of Arcutis Biotherapeutics from $32.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, November 28th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Arcutis Biotherapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.20.

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.