Arcutis Biotherapeutics (NASDAQ:ARQT) Insider Sells $1,027,328.64 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Masaru Matsuda sold 40,638 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $25.28, for a total value of $1,027,328.64. Following the completion of the sale, the insider directly owned 110,003 shares in the company, valued at approximately $2,780,875.84. The trade was a 26.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Masaru Matsuda also recently made the following trade(s):

• On Monday, December 1st, Masaru Matsuda sold 1,657 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $30.23, for a total transaction of $50,091.11.
• On Wednesday, November 19th, Masaru Matsuda sold 2,550 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $28.29, for a total transaction of $72,139.50.

Arcutis Biotherapeutics Price Performance

ARQT stock opened at $27.32 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.50 and a quick ratio of 3.28. Arcutis Biotherapeutics, Inc. has a one year low of $11.13 and a one year high of $31.77. The stock has a market cap of $3.35 billion, a PE ratio of -75.89 and a beta of 1.70. The firm has a 50 day simple moving average of $28.07 and a two-hundred day simple moving average of $22.55.

Institutional Investors Weigh In On Arcutis Biotherapeutics

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

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Mizuho increased their price objective on Arcutis Biotherapeutics from $32.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, November 28th. Zacks Research cut shares of Arcutis Biotherapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a report on Monday, December 29th. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Arcutis Biotherapeutics in a research note on Wednesday, October 29th. Finally, The Goldman Sachs Group lifted their target price on shares of Arcutis Biotherapeutics from $19.00 to $29.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.