Masaru Matsuda Sells 2,550 Shares of Arcutis Biotherapeutics (NASDAQ:ARQT) Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Masaru Matsuda sold 2,550 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $28.29, for a total value of $72,139.50. Following the transaction, the insider directly owned 151,476 shares in the company, valued at approximately $4,285,256.04. This represents a 1.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

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

Arcutis Biotherapeutics Stock Up 7.9%

Shares of NASDAQ ARQT opened at $29.49 on Friday. Arcutis Biotherapeutics, Inc. has a 52-week low of $10.05 and a 52-week high of $30.01. The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of -81.92 and a beta of 1.97. The stock has a 50 day moving average price of $21.59 and a 200 day moving average price of $17.11. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.28 and a current ratio of 3.50.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Perpetual Ltd grew its holdings in shares of Arcutis Biotherapeutics by 7,534.3% in the third quarter. Perpetual Ltd now owns 2,024,606 shares of the company’s stock valued at $38,164,000 after purchasing an additional 1,998,086 shares during the period. Paradigm Biocapital Advisors LP acquired a new position in Arcutis Biotherapeutics during the 1st quarter worth $22,918,000. Jennison Associates LLC increased its stake in shares of Arcutis Biotherapeutics by 10.3% during the third 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. increased its position in shares of Arcutis Biotherapeutics by 12.4% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 9,874,511 shares of the company’s stock valued at $138,441,000 after purchasing an additional 1,089,227 shares during the last quarter. Finally, Voloridge Investment Management LLC acquired a new stake in Arcutis Biotherapeutics in the third quarter valued at $15,711,000.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ARQT. Mizuho set a $32.00 price objective on Arcutis Biotherapeutics in a research report on Wednesday, October 29th. Cowen reaffirmed a “buy” rating on shares of Arcutis Biotherapeutics in a research report on Thursday, August 7th. The Goldman Sachs Group upped their price objective on shares of Arcutis Biotherapeutics from $19.00 to $29.00 and gave the company a “neutral” rating in a 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 report on Wednesday, October 29th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Arcutis Biotherapeutics in a research report on Tuesday, October 14th. One investment 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 issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.