Arcutis Biotherapeutics (NASDAQ:ARQT) Shares Down 4.2% - Should You Sell?

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report)'s stock price was down 4.2% during mid-day trading on Friday . The stock traded as low as $13.77 and last traded at $13.80. Approximately 366,698 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 2,247,335 shares. The stock had previously closed at $14.40.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ARQT. HC Wainwright reaffirmed a "buy" rating and set a $19.00 price target on shares of Arcutis Biotherapeutics in a research report on Thursday, April 3rd. Needham & Company LLC reiterated a "buy" rating and issued a $20.00 price target on shares of Arcutis Biotherapeutics in a research report on Friday, May 23rd. Jefferies Financial Group boosted their price objective on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a "buy" rating in a research report on Tuesday, March 11th. Guggenheim restated a "buy" rating on shares of Arcutis Biotherapeutics in a research note on Thursday, April 3rd. Finally, The Goldman Sachs Group lifted their target price on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a "neutral" rating in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $18.80.

Arcutis Biotherapeutics Trading Down 2.8%

The stock's 50-day simple moving average is $13.99 and its two-hundred day simple moving average is $14.03. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.55 and a quick ratio of 3.37. The firm has a market capitalization of $1.67 billion, a P/E ratio of -13.50 and a beta of 1.76.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.01. The company had revenue of $65.85 million during the quarter, compared to the consensus estimate of $64.80 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 EPS for the current year.

Insider Buying and Selling

In related news, insider Larry Todd Edwards sold 7,451 shares of the company's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $14.07, for a total transaction of $104,835.57. Following the completion of the transaction, the insider now owns 183,104 shares in the company, valued at approximately $2,576,273.28. This represents a 3.91% 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. Also, Director Howard G. Welgus sold 10,139 shares of the firm's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $13.37, for a total transaction of $135,558.43. Following the transaction, the director now directly owns 109,414 shares of the company's stock, valued at $1,462,865.18. The trade was a 8.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 7,434 shares of company stock worth $99,277 and sold 28,291 shares worth $394,261. 9.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Suvretta Capital Management LLC lifted its position in shares of Arcutis Biotherapeutics by 6.3% in the fourth quarter. Suvretta Capital Management LLC now owns 11,399,138 shares of the company's stock worth $158,790,000 after buying an additional 677,627 shares in the last quarter. Polar Capital Holdings Plc raised its holdings in shares of Arcutis Biotherapeutics by 7.2% during the 4th quarter. Polar Capital Holdings Plc now owns 7,377,381 shares of the company's stock worth $102,767,000 after acquiring an additional 493,009 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Arcutis Biotherapeutics by 5.9% during the 1st quarter. Vanguard Group Inc. now owns 6,818,078 shares of the company's stock valued at $106,635,000 after acquiring an additional 377,363 shares during the last quarter. Gilder Gagnon Howe & Co. LLC grew its holdings in shares of Arcutis Biotherapeutics by 9.8% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 3,902,991 shares of the company's stock valued at $54,369,000 after purchasing an additional 349,153 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. increased its position in Arcutis Biotherapeutics by 44.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,513,577 shares of the company's stock worth $35,014,000 after purchasing an additional 768,553 shares during the last quarter.

Arcutis Biotherapeutics Company Profile

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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