Insider Selling: Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) SVP Sells $37,287.25 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) SVP Larry Todd Edwards sold 3,725 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $10.01, for a total transaction of $37,287.25. Following the completion of the transaction, the senior vice president now owns 136,635 shares in the company, valued at $1,367,716.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Arcutis Biotherapeutics Trading Down 0.5 %

NASDAQ ARQT traded down $0.05 during trading hours on Thursday, hitting $10.18. 2,270,262 shares of the company were exchanged, compared to its average volume of 3,440,625. The stock has a market cap of $1.18 billion, a PE ratio of -3.47 and a beta of 1.17. Arcutis Biotherapeutics, Inc. has a 52 week low of $1.76 and a 52 week high of $13.17. The stock has a 50-day moving average price of $9.81 and a 200 day moving average price of $9.49. The company has a quick ratio of 8.19, a current ratio of 8.46 and a debt-to-equity ratio of 1.09.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.06. The company had revenue of $30.86 million for the quarter, compared to analyst estimates of $31.00 million. Arcutis Biotherapeutics had a negative return on equity of 145.41% and a negative net margin of 150.51%. During the same quarter in the prior year, the firm posted ($1.16) EPS. Analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 target price on shares of Arcutis Biotherapeutics in a report on Thursday, August 15th. Jefferies Financial Group assumed coverage on Arcutis Biotherapeutics in a research note on Wednesday, August 28th. They issued a “buy” rating and a $15.00 price objective on the stock. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $13.33.

Institutional Trading of Arcutis Biotherapeutics

Several institutional investors have recently added to or reduced their stakes in the company. Cantor Fitzgerald L. P. bought a new position in shares of Arcutis Biotherapeutics during the fourth quarter valued at approximately $33,000. CWM LLC grew its position in Arcutis Biotherapeutics by 6,740.0% in the 2nd quarter. CWM LLC now owns 4,104 shares of the company’s stock valued at $38,000 after acquiring an additional 4,044 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in Arcutis Biotherapeutics by 55.2% in the first quarter. Ameritas Investment Partners Inc. now owns 7,871 shares of the company’s stock worth $78,000 after purchasing an additional 2,800 shares during the period. Algert Global LLC purchased a new stake in Arcutis Biotherapeutics in the second quarter worth $97,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Arcutis Biotherapeutics during the second quarter worth $174,000.

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.