Arcutis Biotherapeutics (NASDAQ:ARQT) Stock: Insider Masaru Matsuda Sells 40,000 Shares

Key Points

• Arcutis Biotherapeutics EVP Masaru Matsuda sold 40,000 shares for about $1.37 million, under a pre-arranged Rule 10b5-1 plan to cover tax withholding on vested equity awards. He retained 111,289 shares after the sale.
• The company reported quarterly EPS of $0.06, below the $0.18 consensus estimate, while revenue of $143.92 million slightly exceeded expectations.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $39.12; shares traded at $34.05 in the article.

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) EVP Masaru Matsuda sold 40,000 shares of the stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $34.32, for a total value of $1,372,800.00. Following the sale, the executive vice president owned 111,289 shares in the company, valued at approximately $3,819,438.48. This trade represents a 26.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Monday, November 2nd, Masaru Matsuda sold 1,219 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $31.86, for a total value of $38,837.34.
• On Wednesday, September 16th, Masaru Matsuda sold 3,674 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $25.00, for a total value of $91,850.00.
• On Tuesday, September 8th, Masaru Matsuda sold 9,989 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $25.03, for a total value of $250,024.67.

Arcutis Biotherapeutics Price Performance

Arcutis Biotherapeutics stock traded up $2.05 on Wednesday, reaching $34.05. The company's stock had a trading volume of 2,654,353 shares, compared to its average volume of 1,836,721. 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 company has a market cap of $4.28 billion, a price-to-earnings ratio of 162.15 and a beta of 1.66. The business's fifty day moving average price is $26.93 and its 200 day moving average price is $25.33. Arcutis Biotherapeutics, Inc. has a twelve month low of $19.30 and a twelve month high of $34.80.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last announced its earnings results on Wednesday, November 4th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.12). Arcutis Biotherapeutics had a return on equity of 15.05% and a net margin of 6.15%. The business had revenue of $143.92 million for the quarter, compared to the consensus estimate of $142.59 million. Equities analysts expect that Arcutis Biotherapeutics, Inc. will post 0.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Jefferies Financial Group reissued a "buy" rating and set a $39.00 price objective on shares of Arcutis Biotherapeutics in a report on Thursday, October 8th. Morgan Stanley boosted their target price on shares of Arcutis Biotherapeutics from $34.00 to $38.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Needham & Company LLC upped their target price on shares of Arcutis Biotherapeutics from $36.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Weiss Ratings upgraded shares of Arcutis Biotherapeutics from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, October 29th. Finally, Guggenheim increased their price target on shares of Arcutis Biotherapeutics from $38.00 to $44.00 and gave the company a "buy" rating in a research note on Monday, October 19th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, Arcutis Biotherapeutics currently has an average rating of "Moderate Buy" and a consensus price target of $39.12.

Institutional Trading of Arcutis Biotherapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Arcutis Biotherapeutics in the second quarter valued at about $276,502,000. Bank of America Corp DE bought a new position in Arcutis Biotherapeutics during the second quarter worth about $78,330,000. Jupiter Topco LLC acquired a new position in shares of Arcutis Biotherapeutics during the 2nd quarter worth about $36,989,000. Bamco Inc. NY acquired a new position in shares of Arcutis Biotherapeutics during the 2nd quarter worth about $32,857,000. Finally, Simplify Asset Management Inc. acquired a new position in shares of Arcutis Biotherapeutics during the 3rd quarter worth about $22,885,000.

About Arcutis Biotherapeutics

Arcutis Biotherapeutics, Inc is a commercial-stage biopharmaceutical company focused on developing and delivering treatments for dermatologic conditions. The company's portfolio is centered on therapies designed to address inflammatory skin diseases, with an emphasis on nonsteroidal topical medicines that may help patients manage chronic conditions.

Arcutis's lead product is ZORYVE (roflumilast), a topical phosphodiesterase-4 inhibitor. ZORYVE has received U.S. Food and Drug Administration approvals for multiple dermatological uses, including plaque psoriasis, seborrheic dermatitis and atopic dermatitis, in different cream and foam formulations.

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