Arcutis Biotherapeutics (NASDAQ:ARQT) Director Sells $16,300.45 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Howard Welgus sold 635 shares of the stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $25.67, for a total transaction of $16,300.45. Following the sale, the director owned 37,743 shares in the company, valued at approximately $968,862.81. This trade represents a 1.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Arcutis Biotherapeutics Stock Performance

ARQT traded up $0.55 on Wednesday, hitting $26.22. 1,571,105 shares of the company’s stock were exchanged, compared to its average volume of 1,534,816. The firm has a market cap of $3.28 billion, a PE ratio of -873.71 and a beta of 1.51. Arcutis Biotherapeutics, Inc. has a twelve month low of $13.06 and a twelve month high of $31.77. The stock has a fifty day moving average of $22.68 and a two-hundred day moving average of $25.15. The company has a current ratio of 2.68, a quick ratio of 2.46 and a debt-to-equity ratio of 0.54.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.07). Arcutis Biotherapeutics had a negative return on equity of 1.41% and a negative net margin of 0.57%.The business had revenue of $105.40 million for the quarter, compared to analyst estimates of $103.68 million. On average, research analysts anticipate that Arcutis Biotherapeutics, Inc. will post 0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ARQT. SBI Securities Co. Ltd. increased its stake in shares of Arcutis Biotherapeutics by 325.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,089 shares of the company’s stock valued at $32,000 after acquiring an additional 833 shares during the period. Global Retirement Partners LLC acquired a new position in shares of Arcutis Biotherapeutics during the fourth quarter valued at approximately $35,000. EverSource Wealth Advisors LLC increased its stake in shares of Arcutis Biotherapeutics by 124.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the company’s stock valued at $37,000 after acquiring an additional 698 shares during the period. NewEdge Advisors LLC increased its stake in shares of Arcutis Biotherapeutics by 209.0% during the fourth quarter. NewEdge Advisors LLC now owns 1,545 shares of the company’s stock valued at $45,000 after acquiring an additional 1,045 shares during the period. Finally, Truvestments Capital LLC increased its stake in shares of Arcutis Biotherapeutics by 114.2% during the fourth quarter. Truvestments Capital LLC now owns 3,012 shares of the company’s stock valued at $87,000 after acquiring an additional 1,606 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ARQT shares. Mizuho reduced their price objective on Arcutis Biotherapeutics from $37.00 to $35.00 and set an “outperform” rating for the company in a research report on Monday, March 2nd. TD Cowen boosted their price objective on Arcutis Biotherapeutics from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Wall Street Zen downgraded Arcutis Biotherapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Guggenheim boosted their price objective on Arcutis Biotherapeutics from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Finally, HC Wainwright boosted their price objective on Arcutis Biotherapeutics from $30.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $34.00.

About Arcutis Biotherapeutics

Arcutis Biotherapeutics is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for immuno-inflammatory skin diseases. The company’s research and development efforts center on targeted treatments that address the underlying biology of conditions such as plaque psoriasis, atopic dermatitis, seborrheic dermatitis and vitiligo. Arcutis employs a precision-medicine approach to deliver topical therapies designed to improve efficacy and tolerability compared with existing treatment options.

In August 2022, Arcutis received U.S.