Arcutis Biotherapeutics (NASDAQ:ARQT) Insider Masaru Matsuda Sells 3,674 Shares

Key Points

• Insider sale: Masaru Matsuda sold 3,674 Arcutis Biotherapeutics shares for approximately $91,850 under a pre-arranged Rule 10b5-1 plan, reducing his ownership by 3.16% to 112,508 shares.
• Stock and financial performance: ARQT recently traded at $25.34, while the company’s latest quarterly results exceeded expectations, with earnings of $0.11 per share and revenue of $129.86 million.
• Analyst outlook: Analysts maintain a consensus “Moderate Buy” rating and an average price target of $35.57, with several firms recently raising their targets to between $38 and $40.

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) insider Masaru Matsuda sold 3,674 shares of the firm's stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $25.00, for a total value of $91,850.00. Following the completion of the sale, the insider directly owned 112,508 shares in the company, valued at approximately $2,812,700. The trade was a 3.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Masaru Matsuda also recently made the following trade(s):

• On Tuesday, September 8th, Masaru Matsuda sold 9,989 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $25.03, for a total value of $250,024.67.
• On Monday, August 3rd, Masaru Matsuda sold 1,230 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $26.12, for a total value of $32,127.60.

Arcutis Biotherapeutics Price Performance

Arcutis Biotherapeutics stock traded down $1.12 during trading on Friday, reaching $25.34. The company had a trading volume of 19,100,380 shares, compared to its average volume of 1,750,499. The firm's 50-day simple moving average is $25.91 and its 200 day simple moving average is $24.37. Arcutis Biotherapeutics, Inc. has a 1-year low of $16.57 and a 1-year high of $31.77. The firm has a market capitalization of $3.19 billion, a PE ratio of 120.69 and a beta of 1.50. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.67 and a current ratio of 2.92.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of $0.06 by $0.05. Arcutis Biotherapeutics had a net margin of 6.15% and a return on equity of 15.05%. The company had revenue of $129.86 million during the quarter, compared to analysts' expectations of $118.85 million. As a group, equities research analysts anticipate that Arcutis Biotherapeutics, Inc. will post 0.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ARQT has been the topic of several research analyst reports. Wall Street Zen upgraded Arcutis Biotherapeutics from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 8th. Needham & Company LLC increased their target price on Arcutis Biotherapeutics from $36.00 to $40.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Morgan Stanley raised their target price on Arcutis Biotherapeutics from $34.00 to $38.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. Weiss Ratings lowered Arcutis Biotherapeutics from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, September 8th. Finally, Guggenheim boosted their price target on Arcutis Biotherapeutics from $35.00 to $38.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Arcutis Biotherapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $35.57.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ARQT. Montanova Capital LLC increased its position in Arcutis Biotherapeutics by 0.9% during the second quarter. Montanova Capital LLC now owns 12,437,000 shares of the company's stock worth $326,098,000 after purchasing an additional 110,000 shares during the last quarter. BlackRock Inc. acquired a new position in Arcutis Biotherapeutics in the 2nd quarter valued at about $276,502,000. Polar Capital Holdings Plc boosted its holdings in Arcutis Biotherapeutics by 4.9% in the 4th quarter. Polar Capital Holdings Plc now owns 5,556,169 shares of the company's stock valued at $161,351,000 after purchasing an additional 257,415 shares during the last quarter. Bank of America Corp DE purchased a new stake in shares of Arcutis Biotherapeutics in the 2nd quarter valued at approximately $78,330,000. Finally, Geode Capital Management LLC grew its stake in shares of Arcutis Biotherapeutics by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 2,753,307 shares of the company's stock valued at $79,967,000 after buying an additional 146,842 shares during the period.

About Arcutis Biotherapeutics

Arcutis Biotherapeutics, Inc is a biopharmaceutical company focused on developing and commercializing treatments for immune-mediated dermatological conditions. The company's research and development activities are centered on therapies intended to address significant unmet needs in inflammatory skin diseases.

Arcutis's primary commercial product is ZORYVE (roflumilast), a topical, nonsteroidal phosphodiesterase-4 inhibitor. The product is available in multiple formulations and strengths for certain patients with plaque psoriasis, seborrheic dermatitis and atopic dermatitis.

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