Insider Selling: Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Sells 10,000 Shares of Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) Director Howard G. Welgus sold 10,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.67, for a total transaction of $146,700.00. Following the completion of the sale, the director now directly owns 151,944 shares in the company, valued at approximately $2,229,018.48. This trade represents a 6.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Arcutis Biotherapeutics Price Performance

Arcutis Biotherapeutics stock traded up $0.09 during trading hours on Monday, hitting $14.71. 1,363,439 shares of the company traded hands, compared to its average volume of 1,784,580. The firm has a market cap of $1.72 billion, a P/E ratio of -8.22 and a beta of 1.30. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67. The firm's 50-day simple moving average is $11.98 and its two-hundred day simple moving average is $10.51. Arcutis Biotherapeutics, Inc. has a 1-year low of $3.11 and a 1-year high of $15.79.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.09. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. The firm had revenue of $44.76 million for the quarter, compared to analysts' expectations of $38.05 million. As a group, analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Large investors have recently made changes to their positions in the business. Suvretta Capital Management LLC boosted its position in shares of Arcutis Biotherapeutics by 7.2% during the 3rd quarter. Suvretta Capital Management LLC now owns 10,721,511 shares of the company's stock valued at $99,710,000 after purchasing an additional 717,019 shares in the last quarter. GSA Capital Partners LLP boosted its position in shares of Arcutis Biotherapeutics by 730.0% during the 3rd quarter. GSA Capital Partners LLP now owns 237,174 shares of the company's stock valued at $2,206,000 after purchasing an additional 208,599 shares in the last quarter. Rubric Capital Management LP boosted its position in shares of Arcutis Biotherapeutics by 11.7% during the 3rd quarter. Rubric Capital Management LP now owns 10,966,672 shares of the company's stock valued at $101,990,000 after purchasing an additional 1,150,000 shares in the last quarter. Wesbanco Bank Inc. bought a new position in shares of Arcutis Biotherapeutics during the 3rd quarter valued at about $955,000. Finally, Algert Global LLC boosted its position in shares of Arcutis Biotherapeutics by 595.9% during the 3rd quarter. Algert Global LLC now owns 72,480 shares of the company's stock valued at $674,000 after purchasing an additional 62,065 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ARQT. HC Wainwright began coverage on shares of Arcutis Biotherapeutics in a report on Monday, December 30th. They issued a "buy" rating and a $19.00 price objective on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $18.00 price objective on shares of Arcutis Biotherapeutics in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $16.20.

About Arcutis Biotherapeutics

Arcutis Biotherapeutics, Inc, a biopharmaceutical company, focuses on developing and commercializing treatments for dermatological diseases. Its lead product candidate is ARQ-151, a topical roflumilast cream that has completed Phase III clinical trials for the treatment of plaque psoriasis and atopic dermatitis.