Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) insider Patrick Burnett sold 2,622 shares of Arcutis Biotherapeutics stock in a transaction on Monday, August 4th. The stock was sold at an average price of $14.33, for a total value of $37,573.26. Following the sale, the insider directly owned 112,846 shares of the company's stock, valued at $1,617,083.18. This represents a 2.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Patrick Burnett also recently made the following trade(s):
- On Monday, July 14th, Patrick Burnett sold 5,750 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $15.07, for a total value of $86,652.50.
- On Thursday, July 10th, Patrick Burnett sold 23,000 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $15.05, for a total value of $346,150.00.
- On Thursday, May 8th, Patrick Burnett sold 3,871 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $13.59, for a total value of $52,606.89.
Arcutis Biotherapeutics Trading Down 8.1%
Shares of Arcutis Biotherapeutics stock traded down $1.24 on Thursday, hitting $14.12. The stock had a trading volume of 4,355,386 shares, compared to its average volume of 2,151,713. The stock has a 50 day moving average of $14.25 and a 200 day moving average of $14.13. Arcutis Biotherapeutics, Inc. has a twelve month low of $8.03 and a twelve month high of $17.75. The company has a debt-to-equity ratio of 0.75, a quick ratio of 3.37 and a current ratio of 3.55. The firm has a market capitalization of $1.68 billion, a P/E ratio of -13.58 and a beta of 1.84.
Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.05. Arcutis Biotherapeutics had a negative return on equity of 80.66% and a negative net margin of 60.95%. The company had revenue of $81.50 million during the quarter, compared to the consensus estimate of $72.70 million. Sell-side analysts expect that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
ARQT has been the subject of a number of research reports. Needham & Company LLC lifted their target price on Arcutis Biotherapeutics from $20.00 to $22.00 and gave the stock a "buy" rating in a report on Thursday. The Goldman Sachs Group started coverage on Arcutis Biotherapeutics in a research note on Friday, July 25th. They issued a "neutral" rating and a $18.00 price target for the company. Finally, Cowen reissued a "buy" rating on shares of Arcutis Biotherapeutics in a research note on Thursday. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Arcutis Biotherapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.80.
Get Our Latest Report on ARQT
Institutional Trading of Arcutis Biotherapeutics
Several institutional investors have recently added to or reduced their stakes in ARQT. Norges Bank bought a new stake in Arcutis Biotherapeutics in the fourth quarter valued at approximately $7,422,000. Wells Fargo & Company MN boosted its holdings in shares of Arcutis Biotherapeutics by 46.6% during the 4th quarter. Wells Fargo & Company MN now owns 52,455 shares of the company's stock worth $731,000 after buying an additional 16,682 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Arcutis Biotherapeutics during the 4th quarter worth approximately $245,000. Invesco Ltd. boosted its holdings in shares of Arcutis Biotherapeutics by 20.1% during the 4th quarter. Invesco Ltd. now owns 1,126,668 shares of the company's stock worth $15,694,000 after buying an additional 188,184 shares in the last quarter. Finally, Summit Investment Advisors Inc. boosted its holdings in shares of Arcutis Biotherapeutics by 8.0% during the 4th quarter. Summit Investment Advisors Inc. now owns 11,245 shares of the company's stock worth $157,000 after buying an additional 837 shares in the last quarter.
About Arcutis Biotherapeutics
(
Get Free Report)
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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