Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Insider Todd Franklin Watanabe Sells 1,500 Shares of Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Todd Franklin Watanabe sold 1,500 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $17.52, for a total value of $26,280.00. Following the sale, the insider now directly owns 927,414 shares in the company, valued at approximately $16,248,293.28. The trade was a 0.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, March 17th, Todd Franklin Watanabe sold 1,200 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $17.61, for a total transaction of $21,132.00.

Arcutis Biotherapeutics Trading Down 3.7 %

Shares of Arcutis Biotherapeutics stock opened at $16.47 on Thursday. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67. Arcutis Biotherapeutics, Inc. has a twelve month low of $6.99 and a twelve month high of $17.75. The firm has a market capitalization of $1.95 billion, a PE ratio of -9.20 and a beta of 1.48. The firm’s 50-day moving average price is $13.87 and its 200 day moving average price is $12.18.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its earnings results on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.19. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. The business had revenue of $71.36 million during the quarter, compared to analysts’ expectations of $60.52 million. On average, sell-side analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current fiscal year.

Institutional Trading of Arcutis Biotherapeutics

Several institutional investors have recently made changes to their positions in ARQT. Point72 Asset Management L.P. grew its holdings in shares of Arcutis Biotherapeutics by 617.5% during the 4th quarter. Point72 Asset Management L.P. now owns 1,753,522 shares of the company’s stock worth $24,427,000 after purchasing an additional 1,509,136 shares during the period. Cercano Management LLC purchased a new position in Arcutis Biotherapeutics during the fourth quarter worth about $17,487,000. Millennium Management LLC increased its position in shares of Arcutis Biotherapeutics by 101.3% during the fourth quarter. Millennium Management LLC now owns 2,310,163 shares of the company’s stock valued at $32,181,000 after acquiring an additional 1,162,690 shares during the last quarter. Rubric Capital Management LP raised its stake in shares of Arcutis Biotherapeutics by 11.7% in the 3rd quarter. Rubric Capital Management LP now owns 10,966,672 shares of the company’s stock valued at $101,990,000 after acquiring an additional 1,150,000 shares during the period. Finally, Driehaus Capital Management LLC purchased a new stake in shares of Arcutis Biotherapeutics in the 4th quarter valued at approximately $15,278,000.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ARQT. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Arcutis Biotherapeutics in a research report on Wednesday, February 26th. The Goldman Sachs Group lifted their price target on shares of Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, February 27th. Jefferies Financial Group increased their price objective on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, March 11th. Guggenheim restated a “buy” rating on shares of Arcutis Biotherapeutics in a research note on Monday, February 24th. Finally, HC Wainwright reiterated a “buy” rating and issued a $19.00 price target on shares of Arcutis Biotherapeutics in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Arcutis Biotherapeutics presently has an average rating of “Moderate Buy” and an average target price of $18.80.

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.