Arcutis Biotherapeutics (NASDAQ:ARQT) Insider Sells $1,001,200.00 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Todd Watanabe sold 40,000 shares of the business’s stock in a transaction dated Tuesday, October 28th. The shares were sold at an average price of $25.03, for a total value of $1,001,200.00. Following the completion of the sale, the insider directly owned 806,440 shares of the company’s stock, valued at $20,185,193.20. The trade was a 4.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Todd Watanabe also recently made the following trade(s):

• On Thursday, October 2nd, Todd Watanabe sold 20,739 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $20.04, for a total transaction of $415,609.56.
• On Wednesday, October 1st, Todd Watanabe sold 24,261 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $19.33, for a total transaction of $468,965.13.
• On Tuesday, September 9th, Todd Watanabe sold 504 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $17.52, for a total transaction of $8,830.08.
• On Monday, September 8th, Todd Watanabe sold 9,625 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $17.54, for a total transaction of $168,822.50.
• On Monday, August 4th, Todd Watanabe sold 11,547 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $14.33, for a total transaction of $165,468.51.

Arcutis Biotherapeutics Stock Performance

Shares of ARQT opened at $25.31 on Friday. The company has a current ratio of 3.50, a quick ratio of 3.04 and a debt-to-equity ratio of 0.68. The firm has a market cap of $3.10 billion, a PE ratio of -70.31 and a beta of 2.06. The company’s 50 day simple moving average is $18.92 and its 200-day simple moving average is $15.95. Arcutis Biotherapeutics, Inc. has a 12-month low of $8.21 and a 12-month high of $27.08.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its 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. The business 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%. As a group, equities analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

Institutional Trading of Arcutis Biotherapeutics

Institutional investors have recently modified their holdings of the business. Amalgamated Bank boosted its stake in shares of Arcutis Biotherapeutics by 39.4% in the first quarter. Amalgamated Bank now owns 3,723 shares of the company’s stock valued at $58,000 after buying an additional 1,053 shares in the last quarter. KBC Group NV purchased a new stake in shares of Arcutis Biotherapeutics in the first quarter valued at approximately $84,000. Nkcfo LLC purchased a new stake in shares of Arcutis Biotherapeutics in the first quarter valued at approximately $109,000. Allostery Investments LP purchased a new stake in shares of Arcutis Biotherapeutics in the first quarter valued at approximately $117,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Arcutis Biotherapeutics by 10.2% in the second quarter. PNC Financial Services Group Inc. now owns 8,828 shares of the company’s stock valued at $124,000 after buying an additional 820 shares in the last quarter.

Wall Street Analysts Forecast Growth

ARQT has been the topic of a number of recent research reports. Wall Street Zen raised Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday. Needham & Company LLC boosted their target price on Arcutis Biotherapeutics from $22.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, October 28th. Mizuho set a $32.00 target price on Arcutis Biotherapeutics in a report on Wednesday. The Goldman Sachs Group boosted their target price on Arcutis Biotherapeutics from $19.00 to $29.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Arcutis Biotherapeutics in a report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Arcutis Biotherapeutics 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.