Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) insider Masaru Matsuda sold 36,130 shares of the company's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $16.16, for a total value of $583,860.80. Following the sale, the insider owned 161,234 shares of the company's stock, valued at $2,605,541.44. This represents a 18.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Masaru Matsuda also recently made the following trade(s):
- On Monday, August 4th, Masaru Matsuda sold 6,330 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $14.33, for a total value of $90,708.90.
Arcutis Biotherapeutics Stock Up 1.0%
Shares of ARQT stock traded up $0.18 during trading hours on Monday, reaching $17.33. The company had a trading volume of 1,978,429 shares, compared to its average volume of 2,090,194. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.04 and a current ratio of 3.20. Arcutis Biotherapeutics, Inc. has a twelve month low of $8.03 and a twelve month high of $17.75. The company has a market capitalization of $2.08 billion, a P/E ratio of -23.11 and a beta of 1.93. The stock's fifty day simple moving average is $15.09 and its 200 day simple moving average is $14.55.
Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.18) by $0.05. Arcutis Biotherapeutics had a negative return on equity of 62.62% and a negative net margin of 35.40%.The business had revenue of $81.50 million during the quarter, compared to analyst estimates of $72.70 million. As a group, sell-side analysts expect that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Arcutis Biotherapeutics
Institutional investors have recently bought and sold shares of the stock. GF Fund Management CO. LTD. bought a new position in Arcutis Biotherapeutics during the fourth quarter valued at about $34,000. Amalgamated Bank increased its stake in Arcutis Biotherapeutics by 39.4% during the first quarter. Amalgamated Bank now owns 3,723 shares of the company's stock valued at $58,000 after acquiring an additional 1,053 shares during the period. KBC Group NV bought a new position in Arcutis Biotherapeutics during the first quarter valued at about $84,000. Nkcfo LLC acquired a new position in shares of Arcutis Biotherapeutics in the 1st quarter worth approximately $109,000. Finally, Allostery Investments LP acquired a new position in shares of Arcutis Biotherapeutics in the 1st quarter worth approximately $117,000.
Analysts Set New Price Targets
A number of brokerages recently commented on ARQT. Cowen reissued a "buy" rating on shares of Arcutis Biotherapeutics in a report 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. The Goldman Sachs Group began coverage on Arcutis Biotherapeutics in a report on Friday, July 25th. They issued a "neutral" rating and a $18.00 price target on the stock. Finally, Needham & Company LLC raised their target price on Arcutis Biotherapeutics from $20.00 to $22.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $19.80.
Check Out Our Latest Stock Report on Arcutis Biotherapeutics
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.
Further Reading
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