Howard Welgus Sells 10,000 Shares of Arcutis Biotherapeutics (NASDAQ:ARQT) Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Howard Welgus sold 10,000 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $30.21, for a total value of $302,100.00. Following the sale, the director directly owned 79,744 shares of the company’s stock, valued at approximately $2,409,066.24. The trade was a 11.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Arcutis Biotherapeutics Stock Up 1.8%

Shares of ARQT stock traded up $0.53 on Wednesday, hitting $29.96. 1,838,536 shares of the stock were exchanged, compared to its average volume of 2,159,910. The business has a 50-day moving average of $23.44 and a 200 day moving average of $17.96. 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 market capitalization of $3.67 billion, a P/E ratio of -83.22 and a beta of 1.69. Arcutis Biotherapeutics, Inc. has a fifty-two week low of $11.13 and a fifty-two week high of $31.27.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its earnings results on Tuesday, October 28th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.16. The business had revenue of $99.22 million during 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%. Equities analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Several large investors have recently added to or reduced their stakes in the company. Jennison Associates LLC grew its position in shares of Arcutis Biotherapeutics by 10.3% in the 3rd quarter. Jennison Associates LLC now owns 12,254,119 shares of the company’s stock worth $230,990,000 after buying an additional 1,144,714 shares during the period. Frazier Life Sciences Management L.P. boosted its position in shares of Arcutis Biotherapeutics by 12.4% during the second quarter. Frazier Life Sciences Management L.P. now owns 9,874,511 shares of the company’s stock valued at $138,441,000 after buying an additional 1,089,227 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Arcutis Biotherapeutics by 1.4% in the third quarter. Vanguard Group Inc. now owns 7,146,090 shares of the company’s stock worth $134,704,000 after acquiring an additional 96,991 shares during the period. Polar Capital Holdings Plc grew its holdings in shares of Arcutis Biotherapeutics by 5.8% in the third quarter. Polar Capital Holdings Plc now owns 5,298,754 shares of the company’s stock worth $99,882,000 after acquiring an additional 292,279 shares during the period. Finally, State Street Corp boosted its holdings in shares of Arcutis Biotherapeutics by 1.2% in the second quarter. State Street Corp now owns 4,526,937 shares of the company’s stock worth $63,468,000 after buying an additional 52,734 shares during the last quarter.

Wall Street Analyst Weigh In

ARQT has been the subject of several research analyst reports. HC Wainwright reiterated a “buy” rating and set a $30.00 target price on shares of Arcutis Biotherapeutics in a research note on Wednesday, October 29th. Wall Street Zen upgraded Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 1st. Zacks Research upgraded shares of Arcutis Biotherapeutics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 29th. Cowen reissued a “buy” rating on shares of Arcutis Biotherapeutics in a research report on Thursday, August 7th. Finally, Mizuho lifted their price objective on Arcutis Biotherapeutics from $32.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, November 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $29.00.

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.