Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT – Get Free Report) Director Terrie Curran sold 38,200 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $25.03, for a total value of $956,146.00. Following the completion of the sale, the director directly owned 23,526 shares in the company, valued at approximately $588,855.78. The trade was a 61.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.
Terrie Curran also recently made the following trade(s):
- On Thursday, August 20th, Terrie Curran sold 1,072 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $26.04, for a total value of $27,914.88.
Arcutis Biotherapeutics Stock Performance
Shares of ARQT stock opened at $23.78 on Monday. Arcutis Biotherapeutics, Inc. has a 1-year low of $15.10 and a 1-year high of $31.77. The company has a market cap of $2.99 billion, a price-to-earnings ratio of 113.24 and a beta of 1.49. 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 stock has a 50 day simple moving average of $26.64 and a 200-day simple moving average of $24.62.
Institutional Investors Weigh In On Arcutis Biotherapeutics
Hedge funds have recently modified their holdings of the business. Focus Partners Wealth lifted its stake in Arcutis Biotherapeutics by 0.8% in the 3rd quarter. Focus Partners Wealth now owns 65,196 shares of the company’s stock worth $1,237,000 after purchasing an additional 490 shares in the last quarter. Schroder Investment Management Group grew its position in shares of Arcutis Biotherapeutics by 1.1% in the fourth quarter. Schroder Investment Management Group now owns 57,136 shares of the company’s stock valued at $1,604,000 after purchasing an additional 594 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Arcutis Biotherapeutics by 124.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the company’s stock valued at $37,000 after purchasing an additional 698 shares in the last quarter. Entropy Technologies LP increased its holdings in shares of Arcutis Biotherapeutics by 7.0% in the fourth quarter. Entropy Technologies LP now owns 12,144 shares of the company’s stock valued at $353,000 after purchasing an additional 792 shares during the last quarter. Finally, DNB Asset Management AS increased its holdings in shares of Arcutis Biotherapeutics by 3.0% in the fourth quarter. DNB Asset Management AS now owns 27,786 shares of the company’s stock valued at $807,000 after purchasing an additional 802 shares during the last quarter.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on the stock. Wall Street Zen raised shares of Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Morgan Stanley lifted their price objective on Arcutis Biotherapeutics from $34.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Guggenheim boosted their price objective on Arcutis Biotherapeutics from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Weiss Ratings raised Arcutis Biotherapeutics from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 20th. Finally, Needham & Company LLC raised their target price on Arcutis Biotherapeutics from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $35.57.
View Our Latest Analysis on ARQT
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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