Arcutis Biotherapeutics (NASDAQ:ARQT) Director Howard Welgus Sells 10,000 Shares

Key Points

• Howard Welgus, Director of Arcutis Biotherapeutics, sold 10,000 shares of the company's stock for a total of $189,200, reducing his position by 9.11%.
• Arcutis Biotherapeutics' stock price has seen a 6.3% decline, trading at $19.92, with a market cap of $2.39 billion.
• Despite a reported earnings per share of ($0.13), which exceeded estimates, the company retains a negative net margin of 35.40% and negative return on equity of 62.62%.

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) Director Howard Welgus sold 10,000 shares of the company's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $18.92, for a total value of $189,200.00. Following the sale, the director owned 99,744 shares in the company, valued at approximately $1,887,156.48. The trade was a 9.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Arcutis Biotherapeutics Stock Down 6.3%

ARQT stock traded down $1.33 during midday trading on Friday, reaching $19.92. 2,660,902 shares of the company's stock traded hands, compared to its average volume of 2,082,303. The firm's fifty day moving average price is $16.34 and its 200-day moving average price is $15.05. Arcutis Biotherapeutics, Inc. has a 52 week low of $8.03 and a 52 week high of $21.30. The company has a market cap of $2.39 billion, a price-to-earnings ratio of -26.56 and a beta of 2.06. The company has a quick ratio of 3.04, a current ratio of 3.20 and a debt-to-equity ratio of 0.77.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.05. The company had revenue of $81.50 million during the quarter, compared to analyst estimates of $72.70 million. Arcutis Biotherapeutics had a negative net margin of 35.40% and a negative return on equity of 62.62%. As a group, sell-side analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Large investors have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Arcutis Biotherapeutics by 1.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 280,100 shares of the company's stock worth $3,902,000 after acquiring an additional 3,409 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of Arcutis Biotherapeutics during the fourth quarter valued at approximately $291,000. GAMMA Investing LLC raised its position in shares of Arcutis Biotherapeutics by 1,261.0% in the 1st quarter. GAMMA Investing LLC now owns 15,515 shares of the company's stock worth $2,430,000 after acquiring an additional 14,375 shares in the last quarter. Rhumbline Advisers grew its position in shares of Arcutis Biotherapeutics by 7.7% in the 1st quarter. Rhumbline Advisers now owns 181,074 shares of the company's stock worth $2,832,000 after buying an additional 13,022 shares during the last quarter. Finally, Silverleafe Capital Partners LLC purchased a new stake in Arcutis Biotherapeutics in the first quarter valued at about $410,000.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ARQT shares. The Goldman Sachs Group began coverage on Arcutis Biotherapeutics in a report on Friday, July 25th. They set a "neutral" rating and a $18.00 price objective on the stock. Needham & Company LLC upped their price target on Arcutis Biotherapeutics from $20.00 to $22.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Cowen reissued a "buy" rating on shares of Arcutis Biotherapeutics in a research note on Thursday, August 7th. Wall Street Zen raised Arcutis Biotherapeutics from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Arcutis Biotherapeutics in a report on Saturday, September 27th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Arcutis Biotherapeutics currently has a consensus 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.

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