Arcutis Biotherapeutics (NASDAQ:ARQT) Insider Sells $90,260.16 in Stock

Key Points

• Insider Larry Todd Edwards sold 4,504 shares of Arcutis Biotherapeutics for a total of $90,260.16, reducing their position by 2.46% to 178,897 shares.
• Arcutis Biotherapeutics reported a revenue of $81.5 million for the last quarter, surpassing analysts' expectations of $72.7 million.
• Analysts are optimistic about the stock, with Needham & Company raising its price target from $20.00 to $22.00 and six analysts rating it as a "Buy."

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) insider Larry Todd Edwards sold 4,504 shares of the firm's stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $20.04, for a total transaction of $90,260.16. Following the completion of the sale, the insider owned 178,897 shares of the company's stock, valued at $3,585,095.88. This trade represents a 2.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Arcutis Biotherapeutics Trading Down 1.1%

Arcutis Biotherapeutics stock traded down $0.23 during midday trading on Monday, reaching $19.70. The stock had a trading volume of 1,249,134 shares, compared to its average volume of 2,077,436. The company has a quick ratio of 3.04, a current ratio of 3.20 and a debt-to-equity ratio of 0.77. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of -26.26 and a beta of 2.06. Arcutis Biotherapeutics, Inc. has a 52-week low of $8.03 and a 52-week high of $21.30. The company has a fifty day moving average of $16.44 and a 200 day moving average of $15.05.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $81.50 million for the quarter, compared to the consensus estimate of $72.70 million. On average, analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Needham & Company LLC lifted their price objective on shares of Arcutis Biotherapeutics from $20.00 to $22.00 and gave the company a "buy" rating in a report on Thursday, August 7th. The Goldman Sachs Group initiated coverage on shares of Arcutis Biotherapeutics in a report on Friday, July 25th. They issued a "neutral" rating and a $18.00 price target for the company. Wall Street Zen upgraded shares of Arcutis Biotherapeutics from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Weiss Ratings reissued a "sell (d-)" rating on shares of Arcutis Biotherapeutics in a research note on Saturday, September 27th. Finally, Cowen reaffirmed a "buy" rating on shares of Arcutis Biotherapeutics in a research report on Thursday, August 7th. Six 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $19.80.

Institutional Trading of Arcutis Biotherapeutics

Several large investors have recently made changes to their positions in ARQT. Wealth Enhancement Advisory Services LLC acquired a new stake in Arcutis Biotherapeutics during the 4th quarter worth $291,000. GAMMA Investing LLC raised its holdings in Arcutis Biotherapeutics by 1,261.0% in the 1st quarter. GAMMA Investing LLC now owns 15,515 shares of the company's stock valued at $2,430,000 after acquiring an additional 14,375 shares during the last quarter. Rhumbline Advisers lifted its stake in 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 purchasing an additional 13,022 shares in the last quarter. Silverleafe Capital Partners LLC acquired a new position in shares of Arcutis Biotherapeutics during the 1st quarter worth approximately $410,000. Finally, Perpetual Ltd purchased a new stake in shares of Arcutis Biotherapeutics in the first quarter valued at approximately $415,000.

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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