Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Howard G. Welgus Sells 10,000 Shares of Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Howard G. Welgus sold 10,000 shares of Arcutis Biotherapeutics stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $12.51, for a total value of $125,100.00. Following the completion of the sale, the director now owns 161,944 shares of the company’s stock, valued at $2,025,919.44. The trade was a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Arcutis Biotherapeutics Stock Performance

ARQT stock opened at $12.27 on Wednesday. Arcutis Biotherapeutics, Inc. has a one year low of $1.89 and a one year high of $13.50. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of -6.85 and a beta of 1.32. The firm has a 50-day simple moving average of $9.82 and a two-hundred day simple moving average of $9.61.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $38.05 million. On average, equities analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Several hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. increased its holdings in shares of Arcutis Biotherapeutics by 9.9% during the third quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock valued at $119,000 after acquiring an additional 1,155 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Arcutis Biotherapeutics by 3.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 47,753 shares of the company’s stock valued at $474,000 after acquiring an additional 1,681 shares in the last quarter. Point72 DIFC Ltd acquired a new position in Arcutis Biotherapeutics in the 3rd quarter worth approximately $25,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Arcutis Biotherapeutics by 1.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 276,691 shares of the company’s stock worth $2,573,000 after buying an additional 2,912 shares during the period. Finally, CWM LLC increased its holdings in Arcutis Biotherapeutics by 6,740.0% in the 2nd quarter. CWM LLC now owns 4,104 shares of the company’s stock worth $38,000 after buying an additional 4,044 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages have commented on ARQT. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 target price on shares of Arcutis Biotherapeutics in a report on Thursday, November 7th. Jefferies Financial Group began coverage on shares of Arcutis Biotherapeutics in a research report on Wednesday, August 28th. They set a “buy” rating and a $15.00 price target for the company.

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.