Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Insider Sells $346,150.00 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) insider Patrick Burnett sold 23,000 shares of the business's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $15.05, for a total value of $346,150.00. Following the completion of the sale, the insider directly owned 115,468 shares of the company's stock, valued at approximately $1,737,793.40. This represents a 16.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Patrick Burnett also recently made the following trade(s):

• On Monday, July 14th, Patrick Burnett sold 5,750 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $15.07, for a total value of $86,652.50.
• On Thursday, May 8th, Patrick Burnett sold 3,871 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $13.59, for a total value of $52,606.89.

Arcutis Biotherapeutics Stock Down 3.1%

ARQT traded down $0.50 during trading on Tuesday, reaching $15.40. The stock had a trading volume of 1,639,855 shares, compared to its average volume of 2,154,480. The company has a debt-to-equity ratio of 0.75, a quick ratio of 3.37 and a current ratio of 3.55. Arcutis Biotherapeutics, Inc. has a 1-year low of $7.86 and a 1-year high of $17.75. The stock has a 50 day moving average of $13.91 and a two-hundred day moving average of $14.03.

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ARQT shares. Guggenheim reiterated a "buy" rating on shares of Arcutis Biotherapeutics in a research report on Thursday, April 3rd. Needham & Company LLC reiterated a "buy" rating and set a $20.00 price objective on shares of Arcutis Biotherapeutics in a research report on Friday, May 23rd. Finally, HC Wainwright reiterated a "buy" rating and set a $19.00 price objective on shares of Arcutis Biotherapeutics in a research report on Thursday, April 3rd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, Arcutis Biotherapeutics currently has an average rating of "Moderate Buy" and a consensus price target of $18.80.

Institutional Trading of Arcutis Biotherapeutics

Hedge funds have recently modified their holdings of the business. Summit Investment Advisors Inc. raised its holdings in shares of Arcutis Biotherapeutics by 8.0% during the fourth quarter. Summit Investment Advisors Inc. now owns 11,245 shares of the company's stock worth $157,000 after acquiring an additional 837 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Arcutis Biotherapeutics by 3.2% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,697 shares of the company's stock worth $464,000 after buying an additional 917 shares during the last quarter. Amalgamated Bank increased its position in Arcutis Biotherapeutics by 39.4% during the first quarter. Amalgamated Bank now owns 3,723 shares of the company's stock worth $58,000 after buying an additional 1,053 shares during the last quarter. Tocqueville Asset Management L.P. increased its position in Arcutis Biotherapeutics by 14.1% during the first quarter. Tocqueville Asset Management L.P. now owns 16,200 shares of the company's stock worth $253,000 after buying an additional 2,000 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Arcutis Biotherapeutics by 3.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,417 shares of the company's stock worth $1,118,000 after buying an additional 2,063 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.