Todd Watanabe Sells 9,625 Shares of Arcutis Biotherapeutics (NASDAQ:ARQT) Stock

Key Points

• Todd Watanabe, an insider at Arcutis Biotherapeutics, sold 9,625 shares at an average price of $17.54, resulting in a total transaction of approximately $168,822.50, which decreased his ownership by 1.07%.
• Arcutis Biotherapeutics has a current ratio of 3.20 and reported revenue of $81.50 million for its last quarter, which exceeded analyst estimates.
• Equities analysts have given Arcutis Biotherapeutics an average rating of "Moderate Buy" and set a consensus target price of $19.80 for the stock.

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) insider Todd Watanabe sold 9,625 shares of the business's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $17.54, for a total transaction of $168,822.50. Following the completion of the transaction, the insider owned 891,944 shares of the company's stock, valued at approximately $15,644,697.76. This represents a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Todd Watanabe also recently made the following trade(s):

• On Tuesday, September 9th, Todd Watanabe sold 504 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $17.52, for a total transaction of $8,830.08.
• On Monday, August 4th, Todd Watanabe sold 11,547 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $14.33, for a total transaction of $165,468.51.

Arcutis Biotherapeutics Price Performance

Shares of Arcutis Biotherapeutics stock traded down $0.36 on Wednesday, hitting $17.57. The company's stock had a trading volume of 2,045,049 shares, compared to its average volume of 1,602,311. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.20 and a quick ratio of 3.04. Arcutis Biotherapeutics, Inc. has a 1 year low of $8.03 and a 1 year high of $18.15. The firm has a fifty day moving average price of $15.32 and a 200-day moving average price of $14.63.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last issued 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. The company had revenue of $81.50 million for the quarter, compared to analyst estimates of $72.70 million. Arcutis Biotherapeutics had a negative return on equity of 62.62% and a negative net margin of 35.40%. Equities analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ARQT shares. The Goldman Sachs Group initiated coverage on Arcutis Biotherapeutics in a report on Friday, July 25th. They set a "neutral" rating and a $18.00 target price for the company. Cowen reissued a "buy" rating on shares of Arcutis Biotherapeutics in a research note on Thursday, August 7th. Wall Street Zen raised shares of Arcutis Biotherapeutics from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Needham & Company LLC increased their target price on shares of Arcutis Biotherapeutics from $20.00 to $22.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Arcutis Biotherapeutics currently has an average rating of "Moderate Buy" and a consensus target price of $19.80.

Institutional Investors Weigh In On Arcutis Biotherapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARQT. Squarepoint Ops LLC increased its stake in Arcutis Biotherapeutics by 169.2% during the second quarter. Squarepoint Ops LLC now owns 167,814 shares of the company's stock worth $2,353,000 after purchasing an additional 105,487 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in Arcutis Biotherapeutics by 101.5% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 25,829 shares of the company's stock valued at $363,000 after purchasing an additional 13,013 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Arcutis Biotherapeutics by 278.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 12,414 shares of the company's stock valued at $174,000 after purchasing an additional 9,135 shares in the last quarter. E Fund Management Co. Ltd. raised its stake in shares of Arcutis Biotherapeutics by 14.7% during the 2nd quarter. E Fund Management Co. Ltd. now owns 17,184 shares of the company's stock worth $241,000 after buying an additional 2,197 shares during the last quarter. Finally, Oxford Asset Management LLP lifted its stake in Arcutis Biotherapeutics by 9.1% in the 2nd quarter. Oxford Asset Management LLP now owns 23,271 shares of the company's stock valued at $326,000 after buying an additional 1,947 shares in the last quarter.

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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