Arcutis Biotherapeutics (NASDAQ:ARQT) Insider Masaru Matsuda Sells 1,657 Shares of Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Masaru Matsuda sold 1,657 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $30.23, for a total value of $50,091.11. Following the completion of the transaction, the insider directly owned 150,641 shares in the company, valued at approximately $4,553,877.43. This represents a 1.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Wednesday, November 19th, Masaru Matsuda sold 2,550 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $28.29, for a total value of $72,139.50.
• On Monday, November 3rd, Masaru Matsuda sold 7,208 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $24.72, for a total transaction of $178,181.76.
• On Thursday, September 4th, Masaru Matsuda sold 36,130 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $16.16, for a total transaction of $583,860.80.

Arcutis Biotherapeutics Stock Performance

Shares of NASDAQ ARQT opened at $29.70 on Thursday. Arcutis Biotherapeutics, Inc. has a 12-month low of $11.13 and a 12-month high of $31.27. The firm has a market capitalization of $3.64 billion, a price-to-earnings ratio of -82.58 and a beta of 1.69. The company has a current ratio of 3.50, a quick ratio of 3.28 and a debt-to-equity ratio of 0.68. The firm has a 50 day moving average of $23.69 and a 200 day moving average of $18.04.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.16. The business had revenue of $99.22 million for the quarter, compared to the consensus estimate of $86.69 million. Arcutis Biotherapeutics had a negative net margin of 13.94% and a negative return on equity of 29.69%. On average, research analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

ARQT has been the subject of several recent research reports. Mizuho boosted their price target on Arcutis Biotherapeutics from $32.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, November 28th. The Goldman Sachs Group raised their price objective on Arcutis Biotherapeutics from $19.00 to $29.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a research note on Monday. Needham & Company LLC increased their target price on shares of Arcutis Biotherapeutics from $22.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, October 28th. Finally, Zacks Research upgraded shares of Arcutis Biotherapeutics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $29.00.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Johnson Investment Counsel Inc. bought a new stake in shares of Arcutis Biotherapeutics during the third quarter valued at approximately $30,000. Jones Financial Companies Lllp lifted its holdings in shares of Arcutis Biotherapeutics by 1,291.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 7,067 shares of the company’s stock valued at $124,000 after acquiring an additional 6,559 shares during the last quarter. Allostery Investments LP bought a new stake in Arcutis Biotherapeutics during the first quarter worth approximately $117,000. PNC Financial Services Group Inc. raised its position in Arcutis Biotherapeutics by 10.2% during the second quarter. PNC Financial Services Group Inc. now owns 8,828 shares of the company’s stock valued at $124,000 after purchasing an additional 820 shares during the period. Finally, Atlas Wealth LLC bought a new stake in shares of Arcutis Biotherapeutics in the 2nd quarter valued at approximately $138,000.

Arcutis Biotherapeutics Company Profile

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.