Arcutis Biotherapeutics (NASDAQ:ARQT) Insider Sells $192,447.36 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQTGet Free Report) insider Masaru Matsuda sold 8,256 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $23.31, for a total value of $192,447.36. Following the sale, the insider directly owned 126,689 shares in the company, valued at approximately $2,953,120.59. The trade was a 6.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 Monday, March 2nd, Masaru Matsuda sold 8,733 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $25.30, for a total value of $220,944.90.
  • On Friday, February 27th, Masaru Matsuda sold 3,325 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $27.95, for a total transaction of $92,933.75.

Arcutis Biotherapeutics Stock Up 3.2%

Shares of ARQT stock traded up $0.75 during mid-day trading on Wednesday, hitting $24.17. 1,381,968 shares of the stock traded hands, compared to its average volume of 1,026,236. Arcutis Biotherapeutics, Inc. has a 52-week low of $12.42 and a 52-week high of $31.77. The stock has a market cap of $3.02 billion, a P/E ratio of -172.63 and a beta of 1.58. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.17 and a quick ratio of 2.99. The stock’s fifty day moving average is $23.78 and its two-hundred day moving average is $25.78.

Arcutis Biotherapeutics (NASDAQ:ARQTGet Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). The firm had revenue of $105.40 million during the quarter, compared to analysts’ expectations of $103.68 million. Arcutis Biotherapeutics had a negative return on equity of 10.26% and a negative net margin of 4.29%. Equities analysts predict that Arcutis Biotherapeutics, Inc. will post 0.18 EPS for the current year.

Institutional Trading of Arcutis Biotherapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Independent Financial Group LLC purchased a new stake in Arcutis Biotherapeutics during the 1st quarter valued at about $210,000. Bank of New York Mellon Corp lifted its holdings in shares of Arcutis Biotherapeutics by 0.4% during the first quarter. Bank of New York Mellon Corp now owns 305,532 shares of the company’s stock worth $7,198,000 after purchasing an additional 1,104 shares during the period. Hillsdale Investment Management Inc. lifted its holdings in shares of Arcutis Biotherapeutics by 4.9% during the first quarter. Hillsdale Investment Management Inc. now owns 188,220 shares of the company’s stock worth $4,434,000 after purchasing an additional 8,800 shares during the period. Principal Financial Group Inc. purchased a new stake in Arcutis Biotherapeutics in the first quarter valued at approximately $3,978,000. Finally, Candriam S.C.A. boosted its position in Arcutis Biotherapeutics by 35.3% in the first quarter. Candriam S.C.A. now owns 1,086,651 shares of the company’s stock valued at $25,601,000 after buying an additional 283,513 shares during the last quarter.

More Arcutis Biotherapeutics News

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ARQT shares. Mizuho reduced their price target on Arcutis Biotherapeutics from $37.00 to $35.00 and set an “outperform” rating on the stock in a research report on Monday, March 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a report on Friday, March 27th. Wall Street Zen lowered Arcutis Biotherapeutics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 14th. Guggenheim upped their price objective on shares of Arcutis Biotherapeutics from $34.00 to $35.00 and gave the company a “buy” rating in a report on Friday, February 27th. Finally, HC Wainwright increased their price objective on shares of Arcutis Biotherapeutics from $30.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Arcutis Biotherapeutics presently has an average rating of “Moderate Buy” and an average target price of $34.00.

Check Out Our Latest Research Report on Arcutis Biotherapeutics

About Arcutis Biotherapeutics

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Arcutis Biotherapeutics (NASDAQ:ARQT)

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