Masaru Matsuda Sells 6,330 Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Stock

Key Points

• Insider Masaru Matsuda sold 6,330 shares of Arcutis Biotherapeutics stock for a total of $90,708.90, decreasing their ownership stake by 3.11%.
• The stock price of Arcutis Biotherapeutics rose by 5.5% to $15.32, with analysts projecting a consensus price target of $19.40, indicating optimism among investors.
• The company reported quarterly earnings of ($0.20) EPS, exceeding expectations, while also facing a negative net margin of 60.95%.

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) insider Masaru Matsuda sold 6,330 shares of Arcutis Biotherapeutics stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $14.33, for a total transaction of $90,708.90. Following the transaction, the insider owned 197,364 shares of the company's stock, valued at approximately $2,828,226.12. The trade was a 3.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Wednesday, May 28th, Masaru Matsuda sold 1,800 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $13.78, for a total transaction of $24,804.00.

Arcutis Biotherapeutics Trading Down 8.1%

Shares of NASDAQ ARQT traded down $1.24 during midday trading on Thursday, reaching $14.12. 4,355,386 shares of the stock were exchanged, compared to its average volume of 2,151,713. The company has a market capitalization of $1.68 billion, a P/E ratio of -13.58 and a beta of 1.84. Arcutis Biotherapeutics, Inc. has a 52-week low of $8.03 and a 52-week high of $17.75. The company has a current ratio of 3.55, a quick ratio of 3.37 and a debt-to-equity ratio of 0.75. The stock has a 50 day moving average price of $14.25 and a 200-day moving average price of $14.13.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.13) EPS for the quarter, topping analysts' consensus estimates of ($0.18) by $0.05. The business had revenue of $81.50 million during the quarter, compared to the consensus estimate of $72.70 million. Arcutis Biotherapeutics had a negative net margin of 60.95% and a negative return on equity of 80.66%. Equities research analysts expect that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Institutional investors have recently bought and sold shares of the stock. GF Fund Management CO. LTD. purchased a new stake in Arcutis Biotherapeutics in the fourth quarter valued at approximately $34,000. Amalgamated Bank grew its stake 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 period. KBC Group NV purchased a new stake in Arcutis Biotherapeutics during the first quarter worth approximately $84,000. Nkcfo LLC purchased a new stake in Arcutis Biotherapeutics during the first quarter worth approximately $109,000. Finally, Allostery Investments LP purchased a new stake in Arcutis Biotherapeutics during the first quarter worth approximately $117,000.

Wall Street Analyst Weigh In

ARQT has been the subject of a number of research reports. Cowen restated a "buy" rating on shares of Arcutis Biotherapeutics in a research report on Thursday. Needham & Company LLC lifted their target price on shares of Arcutis Biotherapeutics from $20.00 to $22.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, The Goldman Sachs Group began coverage on shares of Arcutis Biotherapeutics in a research report on Friday, July 25th. They set a "neutral" rating and a $18.00 target price for the company. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $19.80.

About Arcutis Biotherapeutics

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.