Insider Selling: Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Insider Sells 5,750 Shares of Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) insider Patrick Burnett sold 5,750 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $15.07, for a total transaction of $86,652.50. Following the transaction, the insider directly owned 115,468 shares in the company, valued at $1,740,102.76. This represents a 4.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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 shares were sold at an average price of $13.59, for a total transaction of $52,606.89.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ ARQT traded up $0.89 during midday trading on Monday, reaching $15.90. 1,948,924 shares of the company were exchanged, compared to its average volume of 2,156,638. The stock's 50-day moving average price is $13.91 and its 200-day moving average price is $14.03. The stock has a market cap of $1.90 billion, a P/E ratio of -15.29 and a beta of 1.77. Arcutis Biotherapeutics, Inc. has a one year low of $7.86 and a one year high of $17.75. The company has a quick ratio of 3.37, a current ratio of 3.55 and a debt-to-equity ratio of 0.75.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.20) EPS for the quarter, topping analysts' consensus estimates 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.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Guggenheim reissued a "buy" rating on shares of Arcutis Biotherapeutics in a research note on Thursday, April 3rd. HC Wainwright reaffirmed a "buy" rating and set a $19.00 target price on shares of Arcutis Biotherapeutics in a research note on Thursday, April 3rd. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $20.00 target price on shares of Arcutis Biotherapeutics in a research note on Friday, May 23rd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $18.80.

Institutional Investors Weigh In On Arcutis Biotherapeutics

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

About Arcutis Biotherapeutics

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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