Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Insider Sells $24,804.00 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) insider Masaru Matsuda sold 1,800 shares of Arcutis Biotherapeutics stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $13.78, for a total value of $24,804.00. Following the transaction, the insider now owns 202,599 shares in the company, valued at $2,791,814.22. This represents a 0.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Friday, May 2nd, Masaru Matsuda sold 5,030 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $15.20, for a total value of $76,456.00.

Arcutis Biotherapeutics Stock Down 4.2%

Shares of ARQT traded down $0.58 during mid-day trading on Friday, hitting $13.09. 3,323,683 shares of the company's stock were exchanged, compared to its average volume of 2,278,370. The firm has a fifty day moving average of $14.24 and a two-hundred day moving average of $13.71. Arcutis Biotherapeutics, Inc. has a twelve month low of $6.99 and a twelve month high of $17.75. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of -7.31 and a beta of 1.87. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.01. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. The company had revenue of $65.85 million for the quarter, compared to analyst estimates of $64.80 million. On average, sell-side analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Fishman Jay A Ltd. MI increased its stake in shares of Arcutis Biotherapeutics by 28.3% during the 4th quarter. Fishman Jay A Ltd. MI now owns 536,400 shares of the company's stock worth $7,472,000 after purchasing an additional 118,400 shares during the last quarter. Barclays PLC increased its stake in shares of Arcutis Biotherapeutics by 45.8% during the 3rd quarter. Barclays PLC now owns 253,392 shares of the company's stock worth $2,356,000 after purchasing an additional 79,579 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Arcutis Biotherapeutics by 11.4% during the 4th quarter. American Century Companies Inc. now owns 1,631,226 shares of the company's stock worth $22,723,000 after purchasing an additional 166,915 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Arcutis Biotherapeutics by 5.8% during the 4th quarter. Jennison Associates LLC now owns 12,339,792 shares of the company's stock worth $171,893,000 after purchasing an additional 676,295 shares during the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in Arcutis Biotherapeutics in the 4th quarter valued at $1,112,000.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. The Goldman Sachs Group lifted their target price on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a "neutral" rating in a research note on Thursday, February 27th. HC Wainwright reiterated a "buy" rating and issued a $19.00 price objective on shares of Arcutis Biotherapeutics in a research note on Thursday, April 3rd. Jefferies Financial Group upped their price objective on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a "buy" rating in a research note on Tuesday, March 11th. Guggenheim reiterated a "buy" rating on shares of Arcutis Biotherapeutics in a research note on Thursday, April 3rd. Finally, Mizuho upped their price objective on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Arcutis Biotherapeutics has an average rating of "Moderate Buy" and a consensus price target of $18.80.

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.