Arcutis Biotherapeutics (NASDAQ:ARQT) Insider Sells $158,306.66 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Patrick Burnett sold 6,287 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $25.18, for a total transaction of $158,306.66. Following the completion of the sale, the insider directly owned 121,150 shares of the company’s stock, valued at $3,050,557. The trade was a 4.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Patrick Burnett also recently made the following trade(s):

• On Wednesday, February 4th, Patrick Burnett sold 9,794 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $25.81, for a total transaction of $252,783.14.
• On Monday, February 2nd, Patrick Burnett sold 3,675 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $25.50, for a total value of $93,712.50.
• On Monday, January 5th, Patrick Burnett sold 2,490 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $28.98, for a total value of $72,160.20.
• On Wednesday, December 31st, Patrick Burnett sold 1,697 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $29.20, for a total transaction of $49,552.40.
• On Monday, December 15th, Patrick Burnett sold 11,500 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $28.94, for a total transaction of $332,810.00.

Arcutis Biotherapeutics Trading Down 0.6%

Shares of NASDAQ:ARQT opened at $23.97 on Friday. Arcutis Biotherapeutics, Inc. has a 1 year low of $11.86 and a 1 year high of $31.77. The firm has a market capitalization of $2.97 billion, a P/E ratio of -171.20 and a beta of 1.66. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.17 and a quick ratio of 2.99. The business’s 50-day moving average is $26.82 and its 200 day moving average is $24.03.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.03 by $0.10. The firm had revenue of $129.50 million during the quarter, compared to analyst estimates of $110.79 million. Arcutis Biotherapeutics had a negative net margin of 4.29% and a negative return on equity of 10.26%. On average, research analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Guggenheim increased their price objective on shares of Arcutis Biotherapeutics from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Wall Street Zen cut Arcutis Biotherapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 14th. Needham & Company LLC lifted their price objective on Arcutis Biotherapeutics from $31.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Mizuho lowered 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 note on Monday. Finally, Zacks Research lowered Arcutis Biotherapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $31.86.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Several institutional investors and hedge funds have recently modified their holdings of ARQT. SBI Securities Co. Ltd. increased its stake in Arcutis Biotherapeutics by 325.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,089 shares of the company’s stock worth $32,000 after buying an additional 833 shares during the period. Global Retirement Partners LLC purchased a new stake in Arcutis Biotherapeutics during the fourth quarter worth approximately $35,000. EverSource Wealth Advisors LLC lifted its position in shares of Arcutis Biotherapeutics by 124.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the company’s stock worth $37,000 after buying an additional 698 shares during the last quarter. NewEdge Advisors LLC boosted its stake in Arcutis Biotherapeutics by 209.0% in the fourth quarter. NewEdge Advisors LLC now owns 1,545 shares of the company’s stock valued at $45,000 after acquiring an additional 1,045 shares in the last quarter. Finally, Johnson Investment Counsel Inc. acquired a new stake in shares of Arcutis Biotherapeutics in the 3rd quarter valued at about $30,000.

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.