Arcutis Biotherapeutics (NASDAQ:ARQT) Shares Down 6.4% - Should You Sell?

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) were down 6.4% during trading on Friday . The stock traded as low as $14.59 and last traded at $14.49. Approximately 995,712 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 2,146,846 shares. The stock had previously closed at $15.48.

Wall Street Analysts Forecast Growth

ARQT has been the topic of a number of recent analyst reports. Guggenheim restated a "buy" rating on shares of Arcutis Biotherapeutics in a research note on Thursday, April 3rd. HC Wainwright restated a "buy" rating and set a $19.00 price objective on shares of Arcutis Biotherapeutics in a report on Thursday, April 3rd. Finally, Needham & Company LLC reissued a "buy" rating and issued a $20.00 price target on shares of Arcutis Biotherapeutics in a research note on Friday, May 23rd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Arcutis Biotherapeutics currently has an average rating of "Moderate Buy" and a consensus target price of $18.80.

Arcutis Biotherapeutics Stock Up 1.5%

The stock's 50-day moving average price is $14.04 and its two-hundred day moving average price is $14.07. The stock has a market capitalization of $1.73 billion, a P/E ratio of -13.99 and a beta of 1.77. The company has a current ratio of 3.55, a quick ratio of 3.37 and a debt-to-equity ratio of 0.75.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported ($0.20) earnings per share for the quarter, beating analysts' consensus estimates of ($0.21) by $0.01. Arcutis Biotherapeutics had a negative net margin of 60.95% and a negative return on equity of 80.66%. The firm had revenue of $65.85 million for the quarter, compared to analyst estimates of $64.80 million. As a group, research analysts expect that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current fiscal year.

Insider Transactions at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, insider Larry Todd Edwards sold 7,451 shares of the 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 transaction, the insider directly owned 183,104 shares of the company's stock, valued at $2,576,273.28. This trade represents a 3.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Howard G. Welgus sold 10,139 shares of the firm's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $13.37, for a total transaction of $135,558.43. Following the sale, the director owned 109,414 shares of the company's stock, valued at approximately $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 have bought 7,434 shares of company stock worth $99,277 and have sold 57,041 shares worth $827,063. 9.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Several institutional investors and hedge funds have recently made changes to their positions in ARQT. LVW Advisors LLC lifted its holdings in shares of Arcutis Biotherapeutics by 21.4% during the 2nd quarter. LVW Advisors LLC now owns 17,561 shares of the company's stock valued at $246,000 after buying an additional 3,095 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in Arcutis Biotherapeutics in the 2nd quarter worth approximately $217,000. Triumph Capital Management acquired a new stake in Arcutis Biotherapeutics in the 2nd quarter worth approximately $410,000. GK Wealth Management LLC lifted its holdings in Arcutis Biotherapeutics by 28.2% in the 2nd quarter. GK Wealth Management LLC now owns 18,801 shares of the company's stock worth $264,000 after purchasing an additional 4,134 shares during the last quarter. Finally, Invst LLC bought a new position in Arcutis Biotherapeutics in the 1st quarter worth approximately $323,000.

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.