Masaru Matsuda Sells 3,674 Shares of Arcutis Biotherapeutics (NASDAQ:ARQT) Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Masaru Matsuda sold 3,674 shares of the firm’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $25.00, for a total value of $91,850.00. Following the sale, the insider directly owned 112,508 shares of the company’s stock, valued at approximately $2,812,700. This trade represents a 3.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, September 8th, Masaru Matsuda sold 9,989 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $25.03, for a total value of $250,024.67.
• On Monday, August 3rd, Masaru Matsuda sold 1,230 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $26.12, for a total value of $32,127.60.

Arcutis Biotherapeutics Trading Down 4.2%

Shares of NASDAQ ARQT traded down $1.12 during mid-day trading on Friday, reaching $25.34. 19,100,380 shares of the company’s stock were exchanged, compared to its average volume of 1,750,499. The company’s 50-day moving average is $25.91 and its 200-day moving average is $24.37. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.67 and a current ratio of 2.92. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of 120.69 and a beta of 1.50. Arcutis Biotherapeutics, Inc. has a 52-week low of $16.57 and a 52-week high of $31.77.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.05. Arcutis Biotherapeutics had a net margin of 6.15% and a return on equity of 15.05%. The firm had revenue of $129.86 million for the quarter, compared to analyst estimates of $118.85 million. Analysts expect that Arcutis Biotherapeutics, Inc. will post 0.4 EPS for the current fiscal year.

Institutional Trading of Arcutis Biotherapeutics

Several hedge funds have recently made changes to their positions in the business. Montanova Capital LLC boosted its stake in shares of Arcutis Biotherapeutics by 0.9% in the second quarter. Montanova Capital LLC now owns 12,437,000 shares of the company’s stock valued at $326,098,000 after purchasing an additional 110,000 shares during the period. BlackRock Inc. purchased a new stake in Arcutis Biotherapeutics during the 2nd quarter worth approximately $276,502,000. Polar Capital Holdings Plc lifted its holdings in Arcutis Biotherapeutics by 4.9% during the 4th quarter. Polar Capital Holdings Plc now owns 5,556,169 shares of the company’s stock worth $161,351,000 after buying an additional 257,415 shares in the last quarter. Bank of America Corp DE acquired a new stake in Arcutis Biotherapeutics during the 2nd quarter worth approximately $78,330,000. Finally, Geode Capital Management LLC lifted its holdings in Arcutis Biotherapeutics by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 2,753,307 shares of the company’s stock worth $79,967,000 after buying an additional 146,842 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Morgan Stanley upped their price objective on shares of Arcutis Biotherapeutics from $34.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Wall Street Zen raised Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Needham & Company LLC upped their price target on Arcutis Biotherapeutics from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Guggenheim raised their price target on Arcutis Biotherapeutics from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Weiss Ratings cut Arcutis Biotherapeutics from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, September 8th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Arcutis Biotherapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $35.57.

About Arcutis Biotherapeutics

Arcutis Biotherapeutics, Inc is a biopharmaceutical company focused on developing and commercializing treatments for immune-mediated dermatological conditions. The company’s research and development activities are centered on therapies intended to address significant unmet needs in inflammatory skin diseases.

Arcutis’s primary commercial product is ZORYVE (roflumilast), a topical, nonsteroidal phosphodiesterase-4 inhibitor. The product is available in multiple formulations and strengths for certain patients with plaque psoriasis, seborrheic dermatitis and atopic dermatitis.