Insider Selling: Arcutis Biotherapeutics (NASDAQ:ARQT) CFO Sells $71,838.54 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) CFO Latha Vairavan sold 2,853 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $25.18, for a total value of $71,838.54. Following the transaction, the chief financial officer owned 87,754 shares of the company’s stock, valued at $2,209,645.72. This trade represents a 3.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Latha Vairavan also recently made the following trade(s):

• On Monday, February 2nd, Latha Vairavan sold 1,320 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $25.50, for a total transaction of $33,660.00.

Arcutis Biotherapeutics Trading Down 0.6%

NASDAQ ARQT opened at $23.97 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.99 and a current ratio of 3.17. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of -171.20 and a beta of 1.66. The firm has a 50 day simple moving average of $26.82 and a 200-day simple moving average of $24.03. Arcutis Biotherapeutics, Inc. has a one year low of $11.86 and a one year high of $31.77.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Focus Partners Wealth grew its position in shares of Arcutis Biotherapeutics by 0.8% in the 3rd quarter. Focus Partners Wealth now owns 65,196 shares of the company’s stock valued at $1,237,000 after buying an additional 490 shares during the last quarter. Arizona State Retirement System boosted its stake in Arcutis Biotherapeutics by 1.8% in the third quarter. Arizona State Retirement System now owns 31,685 shares of the company’s stock valued at $597,000 after acquiring an additional 568 shares in the last quarter. Schroder Investment Management Group grew its holdings in shares of Arcutis Biotherapeutics by 1.1% during the fourth quarter. Schroder Investment Management Group now owns 57,136 shares of the company’s stock worth $1,604,000 after purchasing an additional 594 shares during the last quarter. AlphaQuest LLC grew its holdings in shares of Arcutis Biotherapeutics by 5.7% during the third quarter. AlphaQuest LLC now owns 12,603 shares of the company’s stock worth $238,000 after purchasing an additional 682 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Arcutis Biotherapeutics by 124.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the company’s stock worth $37,000 after purchasing an additional 698 shares in the last quarter.

Analyst Upgrades and Downgrades

ARQT has been the subject of several analyst reports. Mizuho lowered their target price on Arcutis Biotherapeutics from $37.00 to $35.00 and set an “outperform” rating for the company in a research note on Monday. Needham & Company LLC lifted their price objective on Arcutis Biotherapeutics from $31.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Guggenheim upped their target price 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. TD Cowen lifted their price target on shares of Arcutis Biotherapeutics from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Finally, Zacks Research downgraded shares of Arcutis Biotherapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Six 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 MarketBeat, Arcutis Biotherapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $31.86.

About Arcutis Biotherapeutics

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.