Insider Selling: Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Insider Sells $17,182.00 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Masaru Matsuda sold 1,775 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $9.68, for a total transaction of $17,182.00. Following the sale, the insider now owns 181,373 shares of the company’s stock, valued at $1,755,690.64. This trade represents a 0.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Masaru Matsuda also recently made the following trade(s):

• On Monday, November 4th, Masaru Matsuda sold 5,015 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $8.68, for a total value of $43,530.20.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ ARQT traded up $0.66 during trading on Tuesday, hitting $10.09. 1,883,767 shares of the company were exchanged, compared to its average volume of 3,232,942. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38. Arcutis Biotherapeutics, Inc. has a 1 year low of $1.76 and a 1 year high of $13.17. The company has a market cap of $1.18 billion, a price-to-earnings ratio of -5.64 and a beta of 1.18. The firm’s fifty day moving average price is $9.58 and its 200 day moving average price is $9.39.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $38.05 million. On average, sell-side analysts expect that Arcutis Biotherapeutics, Inc. will post -1.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Arcutis Biotherapeutics

Several institutional investors have recently modified their holdings of the company. Point72 DIFC Ltd purchased a new position in Arcutis Biotherapeutics in the 3rd quarter valued at approximately $25,000. CWM LLC grew its holdings in 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 last quarter. Ameritas Investment Partners Inc. increased its position in shares of Arcutis Biotherapeutics by 55.2% in the first quarter. Ameritas Investment Partners Inc. now owns 7,871 shares of the company’s stock valued at $78,000 after buying an additional 2,800 shares in the last quarter. Algert Global LLC acquired a new position in shares of Arcutis Biotherapeutics during the 2nd quarter worth $97,000. Finally, Erste Asset Management GmbH purchased a new stake in shares of Arcutis Biotherapeutics in the 3rd quarter worth about $104,000.

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.