Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Insider Sells $162,473.22 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Patrick Burnett sold 16,023 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $10.14, for a total value of $162,473.22. Following the sale, the insider now owns 128,669 shares of the company’s stock, valued at approximately $1,304,703.66. This represents a 11.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, November 15th, Patrick Burnett sold 100 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $10.03, for a total value of $1,003.00.

Arcutis Biotherapeutics Price Performance

ARQT stock opened at $11.71 on Friday. The company has a market capitalization of $1.37 billion, a P/E ratio of -6.54 and a beta of 1.18. The company has a fifty day moving average price of $9.62 and a 200-day moving average price of $9.50. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46. Arcutis Biotherapeutics, Inc. has a 52-week low of $1.76 and a 52-week high of $13.17.

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Jefferies Financial Group started coverage on shares of Arcutis Biotherapeutics in a research note on Wednesday, August 28th. They issued a “buy” rating and a $15.00 price target on the stock. Needham & Company LLC restated a “buy” rating and issued a $18.00 target price on shares of Arcutis Biotherapeutics in a research report on Thursday, November 7th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ARQT. Geode Capital Management LLC grew its stake in Arcutis Biotherapeutics by 2.0% during the third quarter. Geode Capital Management LLC now owns 2,470,138 shares of the company’s stock worth $22,977,000 after purchasing an additional 48,868 shares during the period. Barclays PLC boosted its holdings in shares of Arcutis Biotherapeutics by 45.8% during the 3rd quarter. Barclays PLC now owns 253,392 shares of the company’s stock worth $2,356,000 after buying an additional 79,579 shares in the last quarter. XTX Topco Ltd grew its position in shares of Arcutis Biotherapeutics by 30.9% during the 3rd quarter. XTX Topco Ltd now owns 47,728 shares of the company’s stock worth $444,000 after buying an additional 11,262 shares during the period. State Street Corp increased its stake in shares of Arcutis Biotherapeutics by 9.9% in the 3rd quarter. State Street Corp now owns 5,641,631 shares of the company’s stock valued at $52,467,000 after acquiring an additional 506,788 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new position in shares of Arcutis Biotherapeutics during the 3rd quarter valued at $25,000.

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.