Insider Selling: Arcutis Biotherapeutics (NASDAQ:ARQT) Director Sells $777,872.16 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Sue-Jean Lin sold 25,272 shares of the stock in a transaction on Monday, November 24th. The shares were sold at an average price of $30.78, for a total value of $777,872.16. Following the completion of the sale, the director owned 26,735 shares in the company, valued at approximately $822,903.30. This trade represents a 48.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ:ARQT traded down $0.03 during trading on Tuesday, hitting $30.73. 1,707,449 shares of the company were exchanged, compared to its average volume of 2,170,243. The company has a market capitalization of $3.76 billion, a P/E ratio of -85.36 and a beta of 1.97. Arcutis Biotherapeutics, Inc. has a 1-year low of $10.57 and a 1-year high of $31.09. The business’s 50 day moving average is $21.86 and its 200-day moving average is $17.26. The company has a quick ratio of 3.28, a current ratio of 3.50 and a debt-to-equity ratio of 0.68.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.16. The firm had revenue of $99.22 million for the quarter, compared to analyst estimates 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 forecast that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current year.

Institutional Trading of Arcutis Biotherapeutics

Several hedge funds have recently made changes to their positions in the company. Johnson Investment Counsel Inc. acquired a new position in shares of Arcutis Biotherapeutics in the third quarter valued at approximately $30,000. Nkcfo LLC bought a new stake in Arcutis Biotherapeutics in the first quarter valued at about $109,000. Jones Financial Companies Lllp boosted 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 buying an additional 6,559 shares during the period. Allostery Investments LP bought a new stake in Arcutis Biotherapeutics in the 1st quarter valued at about $117,000. Finally, PNC Financial Services Group Inc. increased its stake in shares of 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 acquiring an additional 820 shares during the period.

Analysts Set New Price Targets

ARQT has been the topic of a number of analyst reports. The Goldman Sachs Group boosted their price target on Arcutis Biotherapeutics from $19.00 to $29.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price on shares of Arcutis Biotherapeutics in a research note on Wednesday, October 29th. Weiss Ratings reissued a “sell (e+)” rating on shares of Arcutis Biotherapeutics in a research report on Tuesday, October 14th. Cowen reaffirmed a “buy” rating on shares of Arcutis Biotherapeutics in a research report on Thursday, August 7th. Finally, Zacks Research raised Arcutis Biotherapeutics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $28.00.

About Arcutis Biotherapeutics

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.