Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Howard G. Welgus Sells 10,139 Shares

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) Director Howard G. Welgus sold 10,139 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $13.37, for a total transaction of $135,558.43. Following the completion of the transaction, the director now owns 109,414 shares in the company, valued at approximately $1,462,865.18. This represents a 8.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Arcutis Biotherapeutics Stock Performance

Shares of NASDAQ ARQT traded up $0.15 during trading hours on Friday, hitting $13.82. 1,901,618 shares of the stock were exchanged, compared to its average volume of 2,251,090. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.55 and a quick ratio of 3.37. The company's 50 day moving average is $13.88 and its 200 day moving average is $13.97. The firm has a market capitalization of $1.65 billion, a P/E ratio of -13.29 and a beta of 1.76. Arcutis Biotherapeutics, Inc. has a one year low of $7.86 and a one year high of $17.75.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.01. The business had revenue of $65.85 million during the quarter, compared to the consensus estimate of $64.80 million. Arcutis Biotherapeutics had a negative net margin of 60.95% and a negative return on equity of 80.66%. On average, research analysts expect that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

Analyst Ratings Changes

ARQT has been the subject of several recent research reports. The Goldman Sachs Group boosted their target price on shares of Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a "neutral" rating in a research report on Thursday, February 27th. Needham & Company LLC reissued a "buy" rating and issued a $20.00 target price on shares of Arcutis Biotherapeutics in a research report on Friday, May 23rd. Guggenheim reissued a "buy" rating on shares of Arcutis Biotherapeutics in a research report on Thursday, April 3rd. Jefferies Financial Group boosted their target price on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a "buy" rating in a research report on Tuesday, March 11th. Finally, Mizuho boosted their target price on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $18.80.

Institutional Trading of Arcutis Biotherapeutics

Several large investors have recently modified their holdings of the company. Suvretta Capital Management LLC boosted its holdings in shares of Arcutis Biotherapeutics by 6.3% during the 4th quarter. Suvretta Capital Management LLC now owns 11,399,138 shares of the company's stock worth $158,790,000 after buying an additional 677,627 shares during the period. Polar Capital Holdings Plc raised its stake in Arcutis Biotherapeutics by 7.2% during the 4th quarter. Polar Capital Holdings Plc now owns 7,377,381 shares of the company's stock valued at $102,767,000 after purchasing an additional 493,009 shares during the last quarter. Vanguard Group Inc. raised its stake in Arcutis Biotherapeutics by 5.9% during the 1st quarter. Vanguard Group Inc. now owns 6,818,078 shares of the company's stock valued at $106,635,000 after purchasing an additional 377,363 shares during the last quarter. Gilder Gagnon Howe & Co. LLC raised its stake in Arcutis Biotherapeutics by 9.8% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 3,902,991 shares of the company's stock valued at $54,369,000 after purchasing an additional 349,153 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. raised its stake in Arcutis Biotherapeutics by 44.0% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,513,577 shares of the company's stock valued at $35,014,000 after purchasing an additional 768,553 shares during the last quarter.

Arcutis Biotherapeutics Company Profile

Arcutis Biotherapeutics, Inc, a biopharmaceutical company, focuses on developing and commercializing treatments for dermatological diseases. Its lead product candidate is ARQ-151, a topical roflumilast cream that has completed Phase III clinical trials for the treatment of plaque psoriasis and atopic dermatitis.

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