Arcutis Biotherapeutics (NASDAQ:ARQT) Insider Todd Watanabe Sells 20,739 Shares

Key Points

• Insider Todd Watanabe sold 20,739 shares of Arcutis Biotherapeutics at an average price of $20.04, totaling approximately $415,610, which decreased his ownership by 2.39%.
• Arcutis Biotherapeutics' stock recently traded down 6.3% to $19.92, with a market cap of $2.39 billion and a 12-month high of $21.30.
• Several analysts have provided mixed ratings, with six analysts rating it as Buy while one each rated it as Hold and Sell, contributing to an average target price of $19.80.

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) insider Todd Watanabe sold 20,739 shares of the firm's stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $20.04, for a total value of $415,609.56. Following the transaction, the insider owned 846,440 shares of the company's stock, valued at $16,962,657.60. This trade represents a 2.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Todd Watanabe also recently made the following trade(s):

• On Wednesday, October 1st, Todd Watanabe sold 24,261 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $19.33, for a total value of $468,965.13.
• On Tuesday, September 9th, Todd Watanabe sold 504 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $17.52, for a total value of $8,830.08.
• On Monday, September 8th, Todd Watanabe sold 9,625 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $17.54, for a total value of $168,822.50.
• On Monday, August 4th, Todd Watanabe sold 11,547 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $14.33, for a total value of $165,468.51.

Arcutis Biotherapeutics Trading Down 6.3%

Arcutis Biotherapeutics stock traded down $1.33 during midday trading on Friday, reaching $19.92. 2,660,902 shares of the stock traded hands, compared to its average volume of 2,082,303. The company has a 50-day simple moving average of $16.34 and a two-hundred day simple moving average of $15.05. Arcutis Biotherapeutics, Inc. has a 12-month low of $8.03 and a 12-month high of $21.30. The firm has a market cap of $2.39 billion, a PE ratio of -26.56 and a beta of 2.06. The company has a current ratio of 3.20, a quick ratio of 3.04 and a debt-to-equity ratio of 0.77.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.13) EPS for the quarter, beating analysts' consensus estimates of ($0.18) by $0.05. The company had revenue of $81.50 million during the quarter, compared to analysts' expectations of $72.70 million. Arcutis Biotherapeutics had a negative return on equity of 62.62% and a negative net margin of 35.40%. Research analysts expect 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 have issued reports on ARQT shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Arcutis Biotherapeutics in a research report on Saturday, September 27th. Cowen reaffirmed a "buy" rating on shares of Arcutis Biotherapeutics in a research report on Thursday, August 7th. Wall Street Zen raised Arcutis Biotherapeutics from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Needham & Company LLC increased their price target on Arcutis Biotherapeutics from $20.00 to $22.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Finally, The Goldman Sachs Group started coverage on Arcutis Biotherapeutics in a research report on Friday, July 25th. They issued a "neutral" rating and a $18.00 price target on the stock. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $19.80.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ARQT. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Arcutis Biotherapeutics by 1.2% during the fourth 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 buying an additional 3,409 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in Arcutis Biotherapeutics during the fourth quarter worth approximately $291,000. GAMMA Investing LLC increased its position in Arcutis Biotherapeutics by 1,261.0% during the first quarter. GAMMA Investing LLC now owns 15,515 shares of the company's stock worth $2,430,000 after buying an additional 14,375 shares during the period. Rhumbline Advisers increased its position in Arcutis Biotherapeutics by 7.7% during the first 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 period. Finally, Silverleafe Capital Partners LLC acquired a new position in Arcutis Biotherapeutics during the first quarter worth approximately $410,000.

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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