Arcutis Biotherapeutics (NASDAQ:ARQT) CFO Latha Vairavan Sells 1,320 Shares

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) CFO Latha Vairavan sold 1,320 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $25.50, for a total transaction of $33,660.00. Following the transaction, the chief financial officer directly owned 63,607 shares in the company, valued at approximately $1,621,978.50. This trade represents a 2.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Arcutis Biotherapeutics Trading Down 0.4%

Shares of ARQT stock traded down $0.11 during mid-day trading on Wednesday, reaching $26.08. The company’s stock had a trading volume of 2,300,007 shares, compared to its average volume of 1,508,695. The company has a quick ratio of 3.28, a current ratio of 3.50 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $3.19 billion, a PE ratio of -72.44 and a beta of 1.70. The company’s 50 day simple moving average is $28.32 and its 200-day simple moving average is $22.41. Arcutis Biotherapeutics, Inc. has a 12-month low of $11.13 and a 12-month high of $31.77.

Institutional Trading of Arcutis Biotherapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Johnson Investment Counsel Inc. bought a new position in Arcutis Biotherapeutics during the 3rd quarter worth $30,000. SBI Securities Co. Ltd. increased its holdings in shares of Arcutis Biotherapeutics by 325.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,089 shares of the company’s stock worth $32,000 after acquiring an additional 833 shares during the period. PNC Financial Services Group Inc. lifted its position in Arcutis Biotherapeutics by 10.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,828 shares of the company’s stock valued at $124,000 after purchasing an additional 820 shares during the last quarter. Jones Financial Companies Lllp lifted its position in Arcutis Biotherapeutics by 1,291.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 7,067 shares of the company’s stock valued at $124,000 after purchasing an additional 6,559 shares during the last quarter. Finally, Atlas Wealth LLC acquired a new position in Arcutis Biotherapeutics during the 2nd quarter valued at about $138,000.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ARQT. Wall Street Zen lowered Arcutis Biotherapeutics from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 23rd. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Arcutis Biotherapeutics in a research report on Wednesday, October 29th. The Goldman Sachs Group lifted their price objective on shares of Arcutis Biotherapeutics from $19.00 to $29.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a research note on Monday, December 29th. Finally, Zacks Research lowered shares of Arcutis Biotherapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Six 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $29.20.

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.