Insider Selling: Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Insider Sells 3,847 Shares of Stock

Key Points

• Patrick Burnett, an insider at Arcutis Biotherapeutics, sold a total of 3,847 shares at an average price of $14.03, reducing his holdings by 3.41%.
• The company reported a surprise profit with an EPS of ($0.13), beating the consensus estimate of ($0.18) and generating revenues of $81.50 million for the quarter.
• Arcutis Biotherapeutics received positive ratings from analysts, with several research firms upgrading their stance to "buy" during recent evaluations, indicating potential growth in stock value.

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) insider Patrick Burnett sold 3,847 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $14.03, for a total value of $53,973.41. Following the transaction, the insider directly owned 108,999 shares in the company, valued at approximately $1,529,255.97. This represents a 3.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Patrick Burnett also recently made the following trade(s):

• On Monday, August 4th, Patrick Burnett sold 2,622 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $14.33, for a total value of $37,573.26.
• On Monday, July 14th, Patrick Burnett sold 5,750 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $15.07, for a total value of $86,652.50.
• On Thursday, July 10th, Patrick Burnett sold 23,000 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $15.05, for a total value of $346,150.00.

Arcutis Biotherapeutics Stock Up 3.9%

NASDAQ:ARQT traded up $0.55 during mid-day trading on Tuesday, hitting $14.74. The company had a trading volume of 1,471,391 shares, compared to its average volume of 2,146,835. The business has a fifty day simple moving average of $14.30 and a 200-day simple moving average of $14.16. The company has a current ratio of 3.20, a quick ratio of 3.04 and a debt-to-equity ratio of 0.77. Arcutis Biotherapeutics, Inc. has a 1 year low of $8.03 and a 1 year high of $17.75. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of -19.65 and a beta of 1.84.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.05. Arcutis Biotherapeutics had a negative return on equity of 62.62% and a negative net margin of 35.40%. The company had revenue of $81.50 million for the quarter, compared to analyst estimates of $72.70 million. Equities analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ARQT shares. Wall Street Zen raised Arcutis Biotherapeutics from a "hold" rating to a "buy" rating in a research report on Saturday. Cowen reaffirmed a "buy" rating on shares of Arcutis Biotherapeutics in a research report on Thursday, August 7th. The Goldman Sachs Group started coverage on Arcutis Biotherapeutics in a research report on Friday, July 25th. They issued a "neutral" rating and a $18.00 target price on the stock. Finally, Needham & Company LLC increased their target price on Arcutis Biotherapeutics from $20.00 to $22.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Arcutis Biotherapeutics presently has an average rating of "Moderate Buy" and a consensus target price of $19.80.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. GF Fund Management CO. LTD. acquired a new stake in shares of Arcutis Biotherapeutics during the fourth quarter valued at about $34,000. Amalgamated Bank grew its stake in shares of Arcutis Biotherapeutics by 39.4% during the first quarter. Amalgamated Bank now owns 3,723 shares of the company's stock valued at $58,000 after acquiring an additional 1,053 shares in the last quarter. KBC Group NV acquired a new stake in shares of Arcutis Biotherapeutics during the first quarter valued at about $84,000. Nkcfo LLC acquired a new stake in shares of Arcutis Biotherapeutics during the first quarter valued at about $109,000. Finally, Allostery Investments LP acquired a new stake in shares of Arcutis Biotherapeutics during the first quarter valued at about $117,000.

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.

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