Insider Selling: Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Insider Sells 1,775 Shares of Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Masaru Matsuda sold 1,775 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $9.68, for a total transaction of $17,182.00. Following the completion of the transaction, the insider now directly owns 181,373 shares in the company, valued at approximately $1,755,690.64. This represents a 0.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 shares were sold at an average price of $8.68, for a total transaction of $43,530.20.

Arcutis Biotherapeutics Stock Performance

Shares of ARQT stock opened at $10.18 on Thursday. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of -5.69 and a beta of 1.18. 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’s 50-day moving average price is $9.57 and its 200-day moving average price is $9.40. Arcutis Biotherapeutics, Inc. has a 12 month low of $1.76 and a 12 month high of $13.17.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings results 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. The firm had revenue of $44.76 million during the quarter, compared to analysts’ expectations of $38.05 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. Equities research analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.34 EPS for the current year.

Analyst Upgrades and Downgrades

ARQT has been the topic of several recent analyst reports. Jefferies Financial Group began coverage on 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 reissued a “buy” rating and issued a $18.00 target price on shares of Arcutis Biotherapeutics in a report on Thursday, November 7th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 DIFC Ltd acquired a new position in shares of Arcutis Biotherapeutics in the third quarter worth approximately $25,000. CWM LLC boosted its stake in shares of Arcutis Biotherapeutics by 6,740.0% in the 2nd 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% during the first quarter. Ameritas Investment Partners Inc. now owns 7,871 shares of the company’s stock worth $78,000 after buying an additional 2,800 shares during the period. Algert Global LLC bought a new position in Arcutis Biotherapeutics during the second quarter worth $97,000. Finally, Erste Asset Management GmbH acquired a new position in Arcutis Biotherapeutics in the third quarter valued at $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.