Arcutis Biotherapeutics (NASDAQ:ARQT) Stock: Insider Todd Watanabe Sells 4,377 Shares

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Todd Watanabe sold 4,377 shares of the business’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $31.86, for a total transaction of $139,451.22. Following the sale, the insider owned 712,826 shares of the company’s stock, valued at approximately $22,710,636.36. The trade was a 0.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Arcutis Biotherapeutics Stock Performance

ARQT stock traded up $2.05 during midday trading on Wednesday, hitting $34.05. The company’s stock had a trading volume of 2,654,353 shares, compared to its average volume of 1,836,721. The stock has a market cap of $4.28 billion, a price-to-earnings ratio of 162.15 and a beta of 1.66. The company has a quick ratio of 2.67, a current ratio of 2.92 and a debt-to-equity ratio of 0.46. The stock’s 50-day moving average price is $26.93 and its 200 day moving average price is $25.33. Arcutis Biotherapeutics, Inc. has a 1 year low of $19.30 and a 1 year high of $34.80.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its earnings results on Wednesday, November 4th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.12). The firm had revenue of $143.92 million for the quarter, compared to the consensus estimate of $142.59 million. Arcutis Biotherapeutics had a return on equity of 15.05% and a net margin of 6.15%. On average, equities analysts forecast that Arcutis Biotherapeutics, Inc. will post 0.43 EPS for the current year.

Analyst Ratings Changes

ARQT has been the topic of several recent research reports. Cantor Fitzgerald began coverage on Arcutis Biotherapeutics in a research note on Thursday, October 15th. They issued an “overweight” rating and a $48.00 price target on the stock. Needham & Company LLC lifted their target price on shares of Arcutis Biotherapeutics from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Guggenheim upped their price target on shares of Arcutis Biotherapeutics from $38.00 to $44.00 and gave the company a “buy” rating in a research report on Monday, October 19th. Weiss Ratings raised shares of Arcutis Biotherapeutics from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 29th. Finally, Wall Street Zen lowered shares of Arcutis Biotherapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 10th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $39.12.

Institutional Trading of Arcutis Biotherapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Pinnacle Wealth Planning Services Inc. purchased a new stake in shares of Arcutis Biotherapeutics during the third quarter valued at about $36,000. Nykredit A S acquired a new stake in shares of Arcutis Biotherapeutics in the second quarter worth $63,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Arcutis Biotherapeutics in the second quarter worth about $84,000. Sterling Capital Management LLC increased its holdings in shares of Arcutis Biotherapeutics by 839.3% during the 3rd quarter. Sterling Capital Management LLC now owns 3,776 shares of the company’s stock valued at $100,000 after purchasing an additional 3,374 shares in the last quarter. Finally, KBC Group NV increased its stake in shares of Arcutis Biotherapeutics by 43.2% in the 1st quarter. KBC Group NV now owns 4,376 shares of the company’s stock valued at $103,000 after purchasing an additional 1,321 shares in the last quarter.

Arcutis Biotherapeutics News Roundup

Here are the key news stories impacting Arcutis Biotherapeutics this week:

• Positive Sentiment: Third-quarter revenue was $143.92 million, slightly above analysts’ $142.59 million estimate, providing a positive counterpoint to the earnings shortfall. MarketBeat earnings report
• Neutral Sentiment: Several executives sold shares to cover tax withholding on vested equity awards. Most sales were relatively small; EVP Masaru Matsuda also sold 40,000 shares under a pre-arranged Rule 10b5-1 plan, reducing his reported holdings by 26.44%. The stated tax-related and planned nature of the transactions makes them less clearly bearish, though the larger sale may draw investor attention. SEC insider filing
• Negative Sentiment: Adjusted quarterly earnings were $0.06 per share, below consensus estimates of approximately $0.17–$0.18 and unchanged from a year earlier. The miss could weigh on sentiment despite the revenue beat. Zacks earnings report

About Arcutis Biotherapeutics

Arcutis Biotherapeutics, Inc is a commercial-stage biopharmaceutical company focused on developing and delivering treatments for dermatologic conditions. The company’s portfolio is centered on therapies designed to address inflammatory skin diseases, with an emphasis on nonsteroidal topical medicines that may help patients manage chronic conditions.

Arcutis’s lead product is ZORYVE (roflumilast), a topical phosphodiesterase-4 inhibitor. ZORYVE has received U.S. Food and Drug Administration approvals for multiple dermatological uses, including plaque psoriasis, seborrheic dermatitis and atopic dermatitis, in different cream and foam formulations.