Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Insider Patrick Burnett Sells 16,023 Shares of Stock

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

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 Stock Performance

Shares of Arcutis Biotherapeutics stock opened at $11.51 on Wednesday. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67. The business has a 50-day moving average price of $9.57 and a two-hundred day moving average price of $9.46. 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 $1.35 billion, a P/E ratio of -6.43 and a beta of 1.18.

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

Wall Street Analyst Weigh In

ARQT has been the subject of a number of recent research reports. Jefferies Financial Group initiated coverage on Arcutis Biotherapeutics in a report on Wednesday, August 28th. They issued a “buy” rating and a $15.00 price objective for the company. Needham & Company LLC restated a “buy” rating and issued a $18.00 price objective on shares of Arcutis Biotherapeutics in a report on Thursday, November 7th.

Institutional Trading of Arcutis Biotherapeutics

A number of large investors have recently bought and sold shares of ARQT. ProShare Advisors LLC grew its holdings in Arcutis Biotherapeutics by 9.8% during the 1st quarter. ProShare Advisors LLC now owns 20,990 shares of the company’s stock worth $208,000 after acquiring an additional 1,870 shares during the period. Vanguard Group Inc. grew its stake in shares of Arcutis Biotherapeutics by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 5,166,417 shares of the company’s stock valued at $51,199,000 after buying an additional 269,904 shares during the period. PEAK6 Investments LLC grew its stake in shares of Arcutis Biotherapeutics by 50.0% in the 1st quarter. PEAK6 Investments LLC now owns 30,000 shares of the company’s stock valued at $297,000 after buying an additional 10,000 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Arcutis Biotherapeutics by 3.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 47,753 shares of the company’s stock valued at $474,000 after buying an additional 1,681 shares during the period. Finally, Ikarian Capital LLC acquired a new stake in shares of Arcutis Biotherapeutics in the 1st quarter valued at about $5,843,000.

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.