Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Sells $94,253.95 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Terrie Curran sold 8,687 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $10.85, for a total transaction of $94,253.95. Following the completion of the sale, the director now directly owns 10,139 shares of the company’s stock, valued at $110,008.15. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Arcutis Biotherapeutics Stock Performance

Arcutis Biotherapeutics stock traded up $0.22 during mid-day trading on Wednesday, reaching $10.47. 2,276,463 shares of the company’s stock were exchanged, compared to its average volume of 3,250,658. The firm has a market capitalization of $1.23 billion, a PE ratio of -5.85 and a beta of 1.18. The business’s fifty day simple moving average is $9.66 and its 200 day simple moving average is $9.35. Arcutis Biotherapeutics, Inc. has a one year low of $1.76 and a one year high of $13.17. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.09. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. The firm had revenue of $44.76 million during the quarter, compared to analyst estimates of $38.05 million. On average, sell-side analysts expect that Arcutis Biotherapeutics, Inc. will post -1.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ARQT. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price objective on shares of Arcutis Biotherapeutics in a research note on Thursday, November 7th. Jefferies Financial Group initiated coverage on Arcutis Biotherapeutics in a report on Wednesday, August 28th. They set a “buy” rating and a $15.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.40.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Institutional investors have recently modified their holdings of the business. CWM LLC grew its position in shares of Arcutis Biotherapeutics by 6,740.0% in the second quarter. CWM LLC now owns 4,104 shares of the company’s stock valued at $38,000 after purchasing an additional 4,044 shares during the period. Ameritas Investment Partners Inc. increased its position in Arcutis Biotherapeutics by 55.2% during the first quarter. Ameritas Investment Partners Inc. now owns 7,871 shares of the company’s stock worth $78,000 after buying an additional 2,800 shares during the last quarter. Algert Global LLC acquired a new stake in shares of Arcutis Biotherapeutics during the 2nd quarter worth approximately $97,000. Victory Capital Management Inc. boosted its stake in Arcutis Biotherapeutics by 9.9% in the third quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock worth $119,000 after purchasing an additional 1,155 shares in the last quarter. Finally, Creative Planning acquired a new position in Arcutis Biotherapeutics in the third quarter valued at about $127,000.

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.