Arcutis Biotherapeutics (NASDAQ:ARQT) Director Sue-Jean Lin Sells 4,946 Shares

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQTGet Free Report) Director Sue-Jean Lin sold 4,946 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $24.38, for a total transaction of $120,583.48. Following the completion of the sale, the director directly owned 27,567 shares in the company, valued at approximately $672,083.46. This represents a 15.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Arcutis Biotherapeutics Stock Up 2.1%

Shares of NASDAQ:ARQT traded up $0.55 during trading hours on Wednesday, reaching $26.22. The stock had a trading volume of 1,571,105 shares, compared to its average volume of 1,534,816. Arcutis Biotherapeutics, Inc. has a 1 year low of $13.06 and a 1 year high of $31.77. The firm’s 50 day moving average is $22.68 and its 200-day moving average is $25.15. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.46 and a current ratio of 2.68. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of -873.71 and a beta of 1.51.

Arcutis Biotherapeutics (NASDAQ:ARQTGet Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). Arcutis Biotherapeutics had a negative net margin of 0.57% and a negative return on equity of 1.41%. The firm had revenue of $105.40 million during the quarter, compared to analysts’ expectations of $103.68 million. Research analysts predict that Arcutis Biotherapeutics, Inc. will post 0.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ARQT shares. Mizuho dropped their target price on shares of Arcutis Biotherapeutics from $37.00 to $35.00 and set an “outperform” rating on the stock in a research report on Monday, March 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $36.00 target price on shares of Arcutis Biotherapeutics in a research report on Thursday, May 7th. TD Cowen increased their target price on shares of Arcutis Biotherapeutics from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Wall Street Zen downgraded shares of Arcutis Biotherapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a research report on Friday, March 27th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned 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 $34.00.

Read Our Latest Stock Analysis on ARQT

Institutional Trading of Arcutis Biotherapeutics

Several hedge funds have recently made changes to their positions in ARQT. Segall Bryant & Hamill LLC purchased a new position in shares of Arcutis Biotherapeutics in the 1st quarter valued at about $609,000. Bank of America Corp DE increased its holdings in shares of Arcutis Biotherapeutics by 32.7% in the 1st quarter. Bank of America Corp DE now owns 2,221,289 shares of the company’s stock valued at $52,334,000 after purchasing an additional 547,835 shares in the last quarter. Stempoint Capital LP increased its holdings in shares of Arcutis Biotherapeutics by 84.1% in the 1st quarter. Stempoint Capital LP now owns 413,792 shares of the company’s stock valued at $9,749,000 after purchasing an additional 189,052 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Arcutis Biotherapeutics by 1.3% in the 1st quarter. Janus Henderson Group PLC now owns 1,854,566 shares of the company’s stock valued at $43,684,000 after purchasing an additional 24,505 shares in the last quarter. Finally, Amundi purchased a new position in shares of Arcutis Biotherapeutics in the 1st quarter valued at about $214,000.

Arcutis Biotherapeutics Company Profile

(Get Free Report)

Arcutis Biotherapeutics is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for immuno-inflammatory skin diseases. The company’s research and development efforts center on targeted treatments that address the underlying biology of conditions such as plaque psoriasis, atopic dermatitis, seborrheic dermatitis and vitiligo. Arcutis employs a precision-medicine approach to deliver topical therapies designed to improve efficacy and tolerability compared with existing treatment options.

In August 2022, Arcutis received U.S.

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Insider Buying and Selling by Quarter for Arcutis Biotherapeutics (NASDAQ:ARQT)

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