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

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

Arcutis Biotherapeutics Stock Performance

NASDAQ ARQT opened at $14.71 on Tuesday. The company 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 debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38. The stock has a 50-day moving average of $11.98 and a two-hundred day moving average of $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) last released its earnings results on Wednesday, November 6th. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.09. The company had revenue of $44.76 million during the quarter, compared to the consensus estimate of $38.05 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. As a group, analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.34 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on ARQT shares. Needham & Company LLC reissued a “buy” rating and set a $18.00 price objective on shares of Arcutis Biotherapeutics in a research report on Thursday, November 7th. HC Wainwright started coverage on Arcutis Biotherapeutics in a research report on Monday, December 30th. They set a “buy” rating and a $19.00 price objective for the company. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Arcutis Biotherapeutics has an average rating of “Moderate Buy” and a consensus target price of $16.20.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Institutional investors have recently bought and sold shares of the company. Point72 DIFC Ltd acquired a new position in Arcutis Biotherapeutics in the 3rd quarter valued at about $25,000. Algert Global LLC acquired a new position in Arcutis Biotherapeutics in the 2nd quarter valued at about $97,000. Erste Asset Management GmbH acquired a new position in Arcutis Biotherapeutics in the 3rd quarter valued at about $104,000. Victory Capital Management Inc. boosted its stake in shares of Arcutis Biotherapeutics by 9.9% in the 3rd quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock valued at $119,000 after buying an additional 1,155 shares during the period. Finally, Creative Planning purchased a new position in shares of Arcutis Biotherapeutics in the 3rd quarter valued at about $127,000.

Arcutis Biotherapeutics Company Profile

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.