Arcutis Biotherapeutics (NASDAQ:ARQT) EVP Masaru Matsuda Sells 1,219 Shares of Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) EVP Masaru Matsuda sold 1,219 shares of Arcutis Biotherapeutics stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $31.86, for a total transaction of $38,837.34. Following the transaction, the executive vice president directly owned 111,289 shares of the company’s stock, valued at approximately $3,545,667.54. This represents a 1.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Wednesday, November 4th, Masaru Matsuda sold 40,000 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $34.32, for a total transaction of $1,372,800.00.
• On Wednesday, September 16th, Masaru Matsuda sold 3,674 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $25.00, for a total transaction of $91,850.00.
• On Tuesday, September 8th, Masaru Matsuda sold 9,989 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $25.03, for a total transaction of $250,024.67.

Arcutis Biotherapeutics Stock Up 6.4%

Shares of NASDAQ:ARQT opened at $34.05 on Thursday. The firm has a market capitalization of $4.28 billion, a PE ratio of 152.38 and a beta of 1.66. The business has a 50 day simple moving average of $27.11 and a two-hundred day simple moving average of $25.37. Arcutis Biotherapeutics, Inc. has a 1 year low of $19.30 and a 1 year high of $34.80. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.92 and a quick ratio of 2.67.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.12). Arcutis Biotherapeutics had a return on equity of 15.05% and a net margin of 6.15%. The business had revenue of $143.92 million during the quarter, compared to analysts’ expectations of $142.59 million. On average, equities analysts predict that Arcutis Biotherapeutics, Inc. will post 0.43 EPS for the current year.

Arcutis Biotherapeutics News Roundup

Here are the key news stories impacting Arcutis Biotherapeutics this week:

• Positive Sentiment: Third-quarter revenue was $143.92 million, slightly above analysts’ $142.59 million estimate, providing a positive counterpoint to the earnings shortfall. MarketBeat earnings report
• Neutral Sentiment: Several executives sold shares to cover tax withholding on vested equity awards. Most sales were relatively small; EVP Masaru Matsuda also sold 40,000 shares under a pre-arranged Rule 10b5-1 plan, reducing his reported holdings by 26.44%. The stated tax-related and planned nature of the transactions makes them less clearly bearish, though the larger sale may draw investor attention. SEC insider filing
• Negative Sentiment: Adjusted quarterly earnings were $0.06 per share, below consensus estimates of approximately $0.17–$0.18 and unchanged from a year earlier. The miss could weigh on sentiment despite the revenue beat. Zacks earnings report

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ARQT shares. Jefferies Financial Group reiterated a “buy” rating and set a $39.00 target price on shares of Arcutis Biotherapeutics in a research report on Thursday, October 8th. Morgan Stanley upped their price target on shares of Arcutis Biotherapeutics from $34.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Wall Street Zen downgraded shares of Arcutis Biotherapeutics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 10th. Weiss Ratings raised shares of Arcutis Biotherapeutics from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 29th. Finally, Cantor Fitzgerald began coverage on shares of Arcutis Biotherapeutics in a report on Thursday, October 15th. They set an “overweight” rating and a $48.00 price objective for the company. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $39.12.

Institutional Trading of Arcutis Biotherapeutics

A number of large investors have recently modified their holdings of ARQT. Montanova Capital LLC grew its stake in Arcutis Biotherapeutics by 0.9% in the second quarter. Montanova Capital LLC now owns 12,437,000 shares of the company’s stock worth $326,098,000 after purchasing an additional 110,000 shares in the last quarter. BlackRock Inc. purchased a new position in Arcutis Biotherapeutics during the 2nd quarter worth $276,502,000. Bank of America Corp DE purchased a new position in Arcutis Biotherapeutics during the 2nd quarter worth $78,330,000. Janus Henderson Group PLC raised its position in Arcutis Biotherapeutics by 1.3% during the 1st quarter. Janus Henderson Group PLC now owns 1,854,566 shares of the company’s stock valued at $43,684,000 after purchasing an additional 24,505 shares in the last quarter. Finally, Jupiter Topco LLC bought a new stake in Arcutis Biotherapeutics during the 2nd quarter valued at $36,989,000.

Arcutis Biotherapeutics Company Profile

Arcutis Biotherapeutics, Inc is a commercial-stage biopharmaceutical company focused on developing and delivering treatments for dermatologic conditions. The company’s portfolio is centered on therapies designed to address inflammatory skin diseases, with an emphasis on nonsteroidal topical medicines that may help patients manage chronic conditions.

Arcutis’s lead product is ZORYVE (roflumilast), a topical phosphodiesterase-4 inhibitor. ZORYVE has received U.S. Food and Drug Administration approvals for multiple dermatological uses, including plaque psoriasis, seborrheic dermatitis and atopic dermatitis, in different cream and foam formulations.