Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Insider Sells $86,652.50 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) insider Patrick Burnett sold 5,750 shares of the stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $15.07, for a total transaction of $86,652.50. Following the sale, the insider directly owned 115,468 shares in the company, valued at approximately $1,740,102.76. This represents a 4.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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 transaction of $346,150.00.
• On Thursday, May 8th, Patrick Burnett sold 3,871 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $13.59, for a total transaction of $52,606.89.

Arcutis Biotherapeutics Trading Up 0.3%

Shares of NASDAQ ARQT traded up $0.05 during mid-day trading on Thursday, hitting $15.48. The company's stock had a trading volume of 948,048 shares, compared to its average volume of 2,150,928. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of -14.88 and a beta of 1.77. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.55 and a quick ratio of 3.37. Arcutis Biotherapeutics, Inc. has a one year low of $7.86 and a one year high of $17.75. The company's fifty day simple moving average is $14.01 and its 200-day simple moving average is $14.07.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. GF Fund Management CO. LTD. bought a new position in Arcutis Biotherapeutics during the 4th quarter worth approximately $34,000. Amalgamated Bank boosted its stake in Arcutis Biotherapeutics by 39.4% during the 1st quarter. Amalgamated Bank now owns 3,723 shares of the company's stock worth $58,000 after acquiring an additional 1,053 shares during the last quarter. KBC Group NV bought a new position in Arcutis Biotherapeutics during the 1st quarter worth approximately $84,000. Nkcfo LLC bought a new position in Arcutis Biotherapeutics during the 1st quarter worth approximately $109,000. Finally, Allostery Investments LP bought a new position in Arcutis Biotherapeutics during the 1st quarter worth approximately $117,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Guggenheim reissued a "buy" rating on shares of Arcutis Biotherapeutics in a report on Thursday, April 3rd. Needham & Company LLC reissued a "buy" rating and set a $20.00 price objective on shares of Arcutis Biotherapeutics in a report on Friday, May 23rd. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $19.00 target price on shares of Arcutis Biotherapeutics in a research note on Thursday, April 3rd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Arcutis Biotherapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.80.

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.