Arcutis Biotherapeutics (NASDAQ:ARQT) Insider Masaru Matsuda Sells 9,989 Shares of Stock

Key Points

• Insider Masaru Matsuda sold 9,989 Arcutis Biotherapeutics shares for approximately $250,025 under a pre-arranged Rule 10b5-1 plan, reducing his direct ownership by 7.92% to 116,182 shares.
• ARQT shares fell 1.9% to $23.38, while the company’s latest quarterly results exceeded expectations, with earnings of $0.11 per share and revenue of $129.86 million.
• Wall Street remains generally positive, with six analysts rating the stock Buy and three Hold; the consensus rating is Moderate Buy with a $35.57 price target.

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) insider Masaru Matsuda sold 9,989 shares of the stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $25.03, for a total transaction of $250,024.67. Following the sale, the insider directly owned 116,182 shares in the company, valued at $2,908,035.46. This trade represents a 7.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, August 3rd, Masaru Matsuda sold 1,230 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $26.12, for a total transaction of $32,127.60.

Arcutis Biotherapeutics Stock Down 1.9%

Shares of ARQT traded down $0.46 on Thursday, hitting $23.38. 1,784,910 shares of the stock traded hands, compared to its average volume of 1,751,096. The company has a market capitalization of $2.94 billion, a PE ratio of 111.34 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. The business has a 50 day simple moving average of $26.16 and a 200 day simple moving average of $24.45. Arcutis Biotherapeutics, Inc. has a one year low of $16.57 and a one year high of $31.77.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.06 by $0.05. The business had revenue of $129.86 million for the quarter, compared to the consensus estimate of $118.85 million. Arcutis Biotherapeutics had a return on equity of 15.05% and a net margin of 6.15%. As a group, equities analysts forecast that Arcutis Biotherapeutics, Inc. will post 0.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Several hedge funds have recently bought and sold shares of ARQT. SBI Securities Co. Ltd. grew its stake in Arcutis Biotherapeutics by 325.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,089 shares of the company's stock worth $32,000 after acquiring an additional 833 shares in the last quarter. Global Retirement Partners LLC bought a new position in shares of Arcutis Biotherapeutics during the 4th quarter worth $35,000. EverSource Wealth Advisors LLC raised its holdings in shares of Arcutis Biotherapeutics by 124.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the company's stock valued at $37,000 after acquiring an additional 698 shares in the last quarter. NewEdge Advisors LLC increased its position in Arcutis Biotherapeutics by 209.0% during the 4th quarter. NewEdge Advisors LLC now owns 1,545 shares of the company's stock valued at $45,000 after purchasing an additional 1,045 shares during the period. Finally, Nykredit A S bought a new stake in shares of Arcutis Biotherapeutics in the 2nd quarter valued at about $63,000.

Wall Street Analysts Forecast Growth

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

About Arcutis Biotherapeutics

Arcutis Biotherapeutics is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for immuno-inflammatory skin diseases. The company's research and development efforts center on targeted treatments that address the underlying biology of conditions such as plaque psoriasis, atopic dermatitis, seborrheic dermatitis and vitiligo. Arcutis employs a precision-medicine approach to deliver topical therapies designed to improve efficacy and tolerability compared with existing treatment options.

In August 2022, Arcutis received U.S.

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