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

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) Director Howard G. Welgus sold 10,000 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $12.71, for a total value of $127,100.00. Following the sale, the director now owns 141,944 shares in the company, valued at approximately $1,804,108.24. The trade was a 6.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ:ARQT traded down $0.81 during midday trading on Friday, hitting $11.61. The company's stock had a trading volume of 2,951,703 shares, compared to its average volume of 1,730,750. Arcutis Biotherapeutics, Inc. has a 12-month low of $5.50 and a 12-month high of $16.20. The company has a market cap of $1.36 billion, a P/E ratio of -6.49 and a beta of 1.29. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46. The business's 50 day simple moving average is $13.65 and its 200 day simple moving average is $11.13.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported ($0.33) earnings per share for the quarter, topping analysts' consensus estimates of ($0.42) by $0.09. The business had revenue of $44.76 million for the quarter, compared to analyst estimates of $38.05 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. On average, analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ARQT shares. Mizuho raised their price objective on shares of Arcutis Biotherapeutics from $19.00 to $20.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 7th. Needham & Company LLC reaffirmed a "buy" rating and set a $18.00 target price on shares of Arcutis Biotherapeutics in a research note on Thursday, November 7th. Finally, HC Wainwright restated a "buy" rating and set a $19.00 price target on shares of Arcutis Biotherapeutics in a research report on Monday, January 13th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $16.60.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in ARQT. Point72 DIFC Ltd acquired a new stake in shares of Arcutis Biotherapeutics during the 3rd quarter worth approximately $25,000. Venturi Wealth Management LLC acquired a new stake in Arcutis Biotherapeutics during the fourth quarter worth $46,000. Algert Global LLC purchased a new stake in Arcutis Biotherapeutics in the second quarter valued at $97,000. Erste Asset Management GmbH acquired a new position in shares of Arcutis Biotherapeutics in the 3rd quarter valued at $104,000. Finally, LVW Advisors LLC purchased a new position in shares of Arcutis Biotherapeutics during the 4th quarter worth $166,000.

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.