Arcutis Biotherapeutics (NASDAQ:ARQT) Director Howard Welgus Sells 10,000 Shares

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Howard Welgus sold 10,000 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $25.05, for a total transaction of $250,500.00. Following the transaction, the director owned 59,744 shares in the company, valued at $1,496,587.20. The trade was a 14.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Arcutis Biotherapeutics Price Performance

Shares of ARQT stock traded down $0.11 during trading hours on Wednesday, reaching $26.08. The company had a trading volume of 2,300,007 shares, compared to its average volume of 1,508,695. The stock has a fifty day moving average of $28.32 and a 200-day moving average of $22.41. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of -72.44 and a beta of 1.70. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.28 and a current ratio of 3.50. Arcutis Biotherapeutics, Inc. has a 12-month low of $11.13 and a 12-month high of $31.77.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Several institutional investors have recently added to or reduced their stakes in the stock. Focus Partners Wealth raised its stake in shares of Arcutis Biotherapeutics by 0.8% during the third quarter. Focus Partners Wealth now owns 65,196 shares of the company’s stock worth $1,237,000 after purchasing an additional 490 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Arcutis Biotherapeutics by 1.8% in the 3rd quarter. Arizona State Retirement System now owns 31,685 shares of the company’s stock valued at $597,000 after purchasing an additional 568 shares in the last quarter. AlphaQuest LLC increased its holdings in Arcutis Biotherapeutics by 5.7% in the third quarter. AlphaQuest LLC now owns 12,603 shares of the company’s stock valued at $238,000 after buying an additional 682 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Arcutis Biotherapeutics by 10.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,828 shares of the company’s stock valued at $124,000 after purchasing an additional 820 shares in the last quarter. Finally, SBI Securities Co. Ltd. increased its position in shares of Arcutis Biotherapeutics by 325.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,089 shares of the company’s stock valued at $32,000 after buying an additional 833 shares in the last quarter.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Mizuho lifted their price target on shares of Arcutis Biotherapeutics from $32.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, November 28th. The Goldman Sachs Group lifted their target price on Arcutis Biotherapeutics from $19.00 to $29.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price objective on shares of Arcutis Biotherapeutics in a research report on Wednesday, October 29th. Zacks Research downgraded Arcutis Biotherapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Finally, Needham & Company LLC boosted their target price on shares of Arcutis Biotherapeutics from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. 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 data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.20.

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.