Larry Todd Edwards Sells 2,052 Shares of Arcutis Biotherapeutics (NASDAQ:ARQT) Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Larry Todd Edwards sold 2,052 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $25.50, for a total value of $52,326.00. Following the completion of the transaction, the insider directly owned 148,865 shares in the company, valued at $3,796,057.50. This trade represents a 1.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Larry Todd Edwards also recently made the following trade(s):

• On Thursday, November 6th, Larry Todd Edwards sold 29,131 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $25.16, for a total value of $732,935.96.

Arcutis Biotherapeutics Stock Down 0.4%

ARQT traded down $0.11 on Wednesday, hitting $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 simple moving average of $28.32 and a 200-day simple moving average of $22.41. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.50 and a quick ratio of 3.28. The firm has a market capitalization of $3.19 billion, a P/E ratio of -72.44 and a beta of 1.70. Arcutis Biotherapeutics, Inc. has a 52-week low of $11.13 and a 52-week high of $31.77.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ARQT shares. Weiss Ratings restated a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a report on Monday, December 29th. HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of Arcutis Biotherapeutics in a report on Wednesday, October 29th. Needham & Company LLC upped their price target on Arcutis Biotherapeutics from $30.00 to $31.00 and gave the company a “buy” rating in a report on Monday, January 26th. Zacks Research cut Arcutis Biotherapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Finally, Wall Street Zen downgraded Arcutis Biotherapeutics from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.20.

Institutional Trading of Arcutis Biotherapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Johnson Investment Counsel Inc. bought a new position in shares of Arcutis Biotherapeutics during the third quarter worth $30,000. SBI Securities Co. Ltd. boosted its holdings in shares of Arcutis Biotherapeutics by 325.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,089 shares of the company’s stock valued at $32,000 after purchasing an additional 833 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Arcutis Biotherapeutics by 10.2% during the second 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. Jones Financial Companies Lllp increased its holdings in shares of Arcutis Biotherapeutics by 1,291.1% in the third quarter. Jones Financial Companies Lllp now owns 7,067 shares of the company’s stock worth $124,000 after purchasing an additional 6,559 shares during the last quarter. Finally, Atlas Wealth LLC bought a new stake in shares of Arcutis Biotherapeutics in the second quarter worth about $138,000.

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.