Larry Todd Edwards Sells 29,131 Shares of Arcutis Biotherapeutics (NASDAQ:ARQT) Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Larry Todd Edwards sold 29,131 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $25.16, for a total value of $732,935.96. Following the sale, the insider owned 150,193 shares of the company’s stock, valued at approximately $3,778,855.88. This trade represents a 16.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Larry Todd Edwards also recently made the following trade(s):

• On Thursday, October 2nd, Larry Todd Edwards sold 4,504 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $20.04, for a total value of $90,260.16.

Arcutis Biotherapeutics Stock Performance

Arcutis Biotherapeutics stock opened at $24.03 on Wednesday. Arcutis Biotherapeutics, Inc. has a 52 week low of $8.90 and a 52 week high of $27.08. 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 stock has a market cap of $2.94 billion, a P/E ratio of -66.75 and a beta of 1.97. The stock has a 50 day moving average of $20.14 and a 200-day moving average of $16.49.

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, beating the consensus estimate of ($0.10) by $0.16. Arcutis Biotherapeutics had a negative net margin of 13.94% and a negative return on equity of 29.69%. The firm had revenue of $99.22 million for the quarter, compared to analysts’ expectations of $86.69 million. On average, analysts expect that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ARQT. Zacks Research upgraded shares of Arcutis Biotherapeutics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 29th. The Goldman Sachs Group upped their price objective on Arcutis Biotherapeutics from $19.00 to $29.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Mizuho set a $32.00 target price on Arcutis Biotherapeutics in a report on Wednesday, October 29th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Arcutis Biotherapeutics in a research report on Tuesday, October 14th. Finally, Cowen reissued a “buy” rating on shares of Arcutis Biotherapeutics in a research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $28.00.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Jupiter Asset Management Ltd. increased its position in Arcutis Biotherapeutics by 59.7% in the third quarter. Jupiter Asset Management Ltd. now owns 659,331 shares of the company’s stock worth $12,428,000 after buying an additional 246,593 shares during the period. GSA Capital Partners LLP grew its position in shares of Arcutis Biotherapeutics by 114.9% during the third quarter. GSA Capital Partners LLP now owns 33,692 shares of the company’s stock worth $635,000 after acquiring an additional 18,017 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Arcutis Biotherapeutics by 1.4% during 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 last quarter. Cookson Peirce & Co. Inc. acquired a new stake in shares of Arcutis Biotherapeutics in the 3rd quarter worth about $188,000. Finally, Advisors Asset Management Inc. lifted its position in Arcutis Biotherapeutics by 6.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 47,232 shares of the company’s stock valued at $890,000 after purchasing an additional 2,937 shares during the last quarter.

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.