Terrie Curran Sells 1,072 Shares of Arcutis Biotherapeutics (NASDAQ:ARQT) Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Terrie Curran sold 1,072 shares of the company’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $26.04, for a total transaction of $27,914.88. Following the transaction, the director owned 23,526 shares in the company, valued at $612,617.04. This represents a 4.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Arcutis Biotherapeutics Stock Performance

Shares of ARQT stock opened at $24.86 on Wednesday. The company has a quick ratio of 2.67, a current ratio of 2.92 and a debt-to-equity ratio of 0.46. The company has a 50 day moving average price of $26.74 and a 200-day moving average price of $24.66. Arcutis Biotherapeutics, Inc. has a 52 week low of $15.10 and a 52 week high of $31.77. The firm has a market capitalization of $3.12 billion, a PE ratio of 118.39 and a beta of 1.49.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its earnings results on Wednesday, August 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.05. Arcutis Biotherapeutics had a net margin of 6.15% and a return on equity of 15.05%. The company had revenue of $129.86 million for the quarter, compared to analysts’ expectations of $118.85 million. As a group, equities research analysts expect that Arcutis Biotherapeutics, Inc. will post 0.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

ARQT has been the topic of a number of recent research reports. Guggenheim increased their target price on Arcutis Biotherapeutics from $35.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Morgan Stanley boosted their target price on shares of Arcutis Biotherapeutics from $34.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Wall Street Zen raised shares of Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Needham & Company LLC lifted their price target on shares of Arcutis Biotherapeutics from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, Weiss Ratings upgraded Arcutis Biotherapeutics from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 20th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Arcutis Biotherapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $35.57.

Institutional Investors Weigh In On Arcutis Biotherapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its position in shares of Arcutis Biotherapeutics by 21.4% in the first quarter. AQR Capital Management LLC now owns 248,196 shares of the company’s stock worth $3,882,000 after purchasing an additional 43,716 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Arcutis Biotherapeutics by 3.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,417 shares of the company’s stock worth $1,118,000 after buying an additional 2,063 shares during the period. Creative Planning raised its holdings in Arcutis Biotherapeutics by 8.2% during the second quarter. Creative Planning now owns 19,575 shares of the company’s stock valued at $274,000 after acquiring an additional 1,477 shares during the period. JPMorgan Chase & Co. raised its holdings in Arcutis Biotherapeutics by 1.0% during the second quarter. JPMorgan Chase & Co. now owns 548,789 shares of the company’s stock valued at $7,694,000 after acquiring an additional 5,407 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in shares of Arcutis Biotherapeutics by 4,562.5% in the second quarter. Russell Investments Group Ltd. now owns 11,190 shares of the company’s stock valued at $157,000 after acquiring an additional 10,950 shares in the last quarter.

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.