Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT – Get Free Report) Director Terrie Curran sold 1,072 shares of the company’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $26.04, for a total transaction of $27,914.88. Following the completion of the sale, the director directly owned 23,526 shares of the company’s stock, valued at approximately $612,617.04. This trade represents a 4.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Arcutis Biotherapeutics Stock Down 1.2%
NASDAQ ARQT traded down $0.30 during trading on Monday, reaching $24.78. 1,128,431 shares of the company’s stock traded hands, compared to its average volume of 1,571,281. Arcutis Biotherapeutics, Inc. has a 12-month low of $15.10 and a 12-month high of $31.77. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.92 and a quick ratio of 2.67. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of 118.01 and a beta of 1.49. The company’s 50 day simple moving average is $26.77 and its two-hundred day simple moving average is $24.68.
Arcutis Biotherapeutics (NASDAQ:ARQT – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.05. The firm had revenue of $129.86 million during the quarter, compared to analysts’ expectations of $118.85 million. Arcutis Biotherapeutics had a net margin of 6.15% and a return on equity of 15.05%. As a group, sell-side analysts forecast that Arcutis Biotherapeutics, Inc. will post 0.4 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
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Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the company. UBS Group AG raised its stake in shares of Arcutis Biotherapeutics by 10.0% in the fourth quarter. UBS Group AG now owns 3,243,432 shares of the company’s stock valued at $94,189,000 after acquiring an additional 294,994 shares in the last quarter. Bank of America Corp DE increased its holdings in Arcutis Biotherapeutics by 32.7% during the 1st quarter. Bank of America Corp DE now owns 2,221,289 shares of the company’s stock worth $52,334,000 after purchasing an additional 547,835 shares during the period. Kornitzer Capital Management Inc. KS increased its holdings in Arcutis Biotherapeutics by 55.1% during the 1st quarter. Kornitzer Capital Management Inc. KS now owns 175,870 shares of the company’s stock worth $4,143,000 after purchasing an additional 62,485 shares during the period. Vanguard Group Inc. raised its position in Arcutis Biotherapeutics by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 7,253,936 shares of the company’s stock valued at $210,654,000 after purchasing an additional 107,846 shares in the last quarter. Finally, Tejara Capital Ltd acquired a new stake in Arcutis Biotherapeutics in the 2nd quarter valued at about $2,965,000.
Arcutis Biotherapeutics Company Profile
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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