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

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Masaru Matsuda sold 2,550 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $28.29, for a total transaction of $72,139.50. Following the sale, the insider owned 151,476 shares of the company’s stock, valued at $4,285,256.04. This trade represents a 1.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 value of $583,860.80.

Arcutis Biotherapeutics Stock Performance

NASDAQ ARQT traded up $2.16 during trading on Friday, hitting $29.49. The company’s stock had a trading volume of 2,593,352 shares, compared to its average volume of 3,276,085. Arcutis Biotherapeutics, Inc. has a 52 week low of $10.05 and a 52 week high of $30.01. The firm has a market cap of $3.61 billion, a P/E ratio of -81.92 and a beta of 1.97. The firm has a 50 day moving average price of $21.59 and a 200 day moving average price of $17.09. 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 posted 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. Arcutis Biotherapeutics had a negative return on equity of 29.69% and a negative net margin of 13.94%.The company had revenue of $99.22 million during the quarter, compared to analysts’ expectations of $86.69 million. Equities research analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current fiscal year.

Institutional Trading of Arcutis Biotherapeutics

Several large investors have recently added to or reduced their stakes in ARQT. CIBC Bancorp USA Inc. acquired a new position in shares of Arcutis Biotherapeutics in the 3rd quarter worth approximately $215,000. Woodline Partners LP raised its position in Arcutis Biotherapeutics by 53.1% in the 3rd quarter. Woodline Partners LP now owns 314,619 shares of the company’s stock valued at $5,931,000 after purchasing an additional 109,109 shares during the last quarter. Dark Forest Capital Management LP acquired a new position in Arcutis Biotherapeutics in the third quarter worth $516,000. PharVision Advisers LLC bought a new stake in shares of Arcutis Biotherapeutics during the third quarter worth $245,000. Finally, Voleon Capital Management LP acquired a new stake in shares of Arcutis Biotherapeutics in the third quarter valued at $468,000.

Analyst Ratings Changes

Several research firms recently weighed in 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. HC Wainwright reissued a “buy” rating and issued a $30.00 price target on shares of Arcutis Biotherapeutics in a report on Wednesday, October 29th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Arcutis Biotherapeutics in a report on Tuesday, October 14th. Wall Street Zen raised shares of Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 1st. Finally, Needham & Company LLC raised their price target on shares of Arcutis Biotherapeutics from $22.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus 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.