Insider Selling: Arcutis Biotherapeutics (NASDAQ:ARQT) Insider Sells 1,055 Shares of Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Todd Watanabe sold 1,055 shares of the business’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $30.00, for a total value of $31,650.00. Following the transaction, the insider directly owned 793,838 shares of the company’s stock, valued at $23,815,140. The trade was a 0.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Monday, November 24th, Todd Watanabe sold 48,945 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $30.36, for a total transaction of $1,485,970.20.
• On Monday, November 3rd, Todd Watanabe sold 11,547 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $24.72, for a total transaction of $285,441.84.
• On Tuesday, October 28th, Todd Watanabe sold 40,000 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $25.03, for a total transaction of $1,001,200.00.
• On Thursday, October 2nd, Todd Watanabe sold 20,739 shares of Arcutis Biotherapeutics stock. The shares were 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 shares were sold at an average price of $17.54, for a total value of $168,822.50.

Arcutis Biotherapeutics Price Performance

NASDAQ ARQT traded up $1.27 during trading hours on Monday, reaching $30.76. 3,780,365 shares of the stock traded hands, compared to its average volume of 2,170,959. The stock has a 50 day simple moving average of $21.59 and a two-hundred day simple moving average of $17.13. Arcutis Biotherapeutics, Inc. has a 1 year low of $10.21 and a 1 year high of $31.10. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.50 and a quick ratio of 3.28. The company has a market cap of $3.77 billion, a price-to-earnings ratio of -85.44 and a beta of 1.96.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings data 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 firm had revenue of $99.22 million during the quarter, compared to analysts’ expectations of $86.69 million. Arcutis Biotherapeutics had a negative return on equity of 29.69% and a negative net margin of 13.94%. On average, analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. The Goldman Sachs Group increased their price target on shares of Arcutis Biotherapeutics from $19.00 to $29.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Wall Street Zen raised shares of Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. Cowen reiterated a “buy” rating on shares of Arcutis Biotherapeutics in a research report on Thursday, August 7th. Needham & Company LLC upped their price target on shares of Arcutis Biotherapeutics from $22.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, October 28th. Finally, Mizuho set a $32.00 price objective on Arcutis Biotherapeutics in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Arcutis Biotherapeutics has an average rating of “Moderate Buy” and a consensus price target of $28.00.

Hedge Funds Weigh In On Arcutis Biotherapeutics

A number of hedge funds have recently modified their holdings of the company. Focus Partners Wealth raised its stake in shares of Arcutis Biotherapeutics by 0.8% during the third quarter. Focus Partners Wealth now owns 65,196 shares of the company’s stock valued at $1,237,000 after acquiring an additional 490 shares during the last quarter. Arizona State Retirement System increased its holdings in Arcutis Biotherapeutics by 1.8% during the 3rd quarter. Arizona State Retirement System now owns 31,685 shares of the company’s stock valued at $597,000 after purchasing an additional 568 shares during the period. AlphaQuest LLC raised its position in Arcutis Biotherapeutics by 5.7% during the 3rd quarter. AlphaQuest LLC now owns 12,603 shares of the company’s stock valued at $238,000 after purchasing an additional 682 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Arcutis Biotherapeutics by 10.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,828 shares of the company’s stock worth $124,000 after buying an additional 820 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Arcutis Biotherapeutics by 3.2% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,697 shares of the company’s stock worth $464,000 after buying an additional 917 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.