Arcutis Biotherapeutics (NASDAQ:ARQT) Director Sells $120,583.48 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Sue-Jean Lin sold 4,946 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $24.38, for a total transaction of $120,583.48. Following the completion of the sale, the director directly owned 27,567 shares in the company, valued at approximately $672,083.46. The trade was a 15.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Arcutis Biotherapeutics Stock Performance

ARQT stock opened at $26.21 on Friday. Arcutis Biotherapeutics, Inc. has a fifty-two week low of $13.06 and a fifty-two week high of $31.77. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of -873.38 and a beta of 1.51. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.68 and a quick ratio of 2.46. The business has a fifty day moving average price of $22.77 and a 200 day moving average price of $25.13.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.07). Arcutis Biotherapeutics had a negative return on equity of 1.41% and a negative net margin of 0.57%.The company had revenue of $105.40 million during the quarter, compared to the consensus estimate of $103.67 million. Analysts expect that Arcutis Biotherapeutics, Inc. will post 0.15 EPS for the current fiscal year.

Institutional Trading of Arcutis Biotherapeutics

Institutional investors have recently modified their holdings of the business. Suvretta Capital Management LLC grew its holdings in Arcutis Biotherapeutics by 14.2% during the 4th quarter. Suvretta Capital Management LLC now owns 11,964,000 shares of the company’s stock worth $347,435,000 after acquiring an additional 1,486,000 shares during the period. Price T Rowe Associates Inc. MD grew its position in Arcutis Biotherapeutics by 1,228.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,166,348 shares of the company’s stock valued at $33,872,000 after purchasing an additional 1,078,546 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Arcutis Biotherapeutics during the fourth quarter worth about $26,136,000. State Street Corp increased its holdings in Arcutis Biotherapeutics by 18.2% during the 4th quarter. State Street Corp now owns 5,488,301 shares of the company’s stock worth $159,380,000 after purchasing an additional 846,986 shares in the last quarter. Finally, Voloridge Investment Management LLC bought a new stake in Arcutis Biotherapeutics during the third quarter worth $15,711,000.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ARQT shares. Guggenheim increased their price objective on Arcutis Biotherapeutics from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Needham & Company LLC restated a “buy” rating and set a $36.00 price objective on shares of Arcutis Biotherapeutics in a research note on Thursday, May 7th. Mizuho dropped their price target on Arcutis Biotherapeutics from $37.00 to $35.00 and set an “outperform” rating on the stock in a research note on Monday, March 2nd. HC Wainwright raised their price objective on shares of Arcutis Biotherapeutics from $30.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a report on Friday, March 27th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

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.