Key Points
- Todd Watanabe has been selling Arcutis shares in a recent spree—about ~156,700 shares across multiple trades (including 48,945 on Nov. 24) for roughly $3.87 million total, though he still holds 793,838 shares (~$23.8M).
- Arcutis stock opened around $30.76 (up 4.3%), has a market cap of $3.77 billion, and recently beat quarterly estimates (EPS $0.06 vs. -$0.10 expected; revenue $99.22M vs. $86.69M) while remaining unprofitable on margin and ROE.
- Wall Street sentiment is mixed-to-positive with a consensus rating of “Moderate Buy” and an average target of $28, while several institutional investors (e.g., Jennison, Frazier, Vanguard) have increased their stakes.
Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) insider Todd Watanabe sold 1,055 shares of the business's stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $30.00, for a total value of $31,650.00. Following the completion of the transaction, the insider owned 793,838 shares in the company, valued at $23,815,140. The trade was a 0.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Todd Watanabe also recently made the following trade(s):
- On Monday, November 24th, Todd Watanabe sold 48,945 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $30.36, for a total value of $1,485,970.20.
- On Monday, November 3rd, Todd Watanabe sold 11,547 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $24.72, for a total value of $285,441.84.
- On Tuesday, October 28th, Todd Watanabe sold 40,000 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $25.03, for a total value of $1,001,200.00.
- On Thursday, October 2nd, Todd Watanabe sold 20,739 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $20.04, for a total value of $415,609.56.
- On Wednesday, October 1st, Todd Watanabe sold 24,261 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $19.33, for a total transaction of $468,965.13.
- On Tuesday, September 9th, Todd Watanabe sold 504 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $17.52, for a total transaction of $8,830.08.
- On Monday, September 8th, Todd Watanabe sold 9,625 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $17.54, for a total transaction of $168,822.50.
Arcutis Biotherapeutics Stock Up 4.3%
Arcutis Biotherapeutics stock opened at $30.76 on Tuesday. The firm has a 50 day moving average price of $21.86 and a 200-day moving average price of $17.26. The company has a quick ratio of 3.28, a current ratio of 3.50 and a debt-to-equity ratio of 0.68. Arcutis Biotherapeutics, Inc. has a twelve month low of $10.21 and a twelve month high of $31.10. The company has a market capitalization of $3.77 billion, a P/E ratio of -85.44 and a beta of 1.97.
Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.10) by $0.16. Arcutis Biotherapeutics had a negative return on equity of 29.69% and a negative net margin of 13.94%.The business had revenue of $99.22 million for the quarter, compared to the consensus estimate of $86.69 million. As a group, equities analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.
Institutional Investors Weigh In On Arcutis Biotherapeutics
A number of institutional investors and hedge funds have recently modified their holdings of ARQT. Jennison Associates LLC grew its stake in Arcutis Biotherapeutics by 10.3% during the third quarter. Jennison Associates LLC now owns 12,254,119 shares of the company's stock valued at $230,990,000 after acquiring an additional 1,144,714 shares in the last quarter. Frazier Life Sciences Management L.P. boosted its holdings in Arcutis Biotherapeutics by 12.4% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 9,874,511 shares of the company's stock valued at $138,441,000 after purchasing an additional 1,089,227 shares during the period. Vanguard Group Inc. grew its position in shares of Arcutis Biotherapeutics by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 7,146,090 shares of the company's stock valued at $134,704,000 after purchasing an additional 96,991 shares in the last quarter. Polar Capital Holdings Plc increased its holdings in shares of Arcutis Biotherapeutics by 5.8% in the third quarter. Polar Capital Holdings Plc now owns 5,298,754 shares of the company's stock worth $99,882,000 after purchasing an additional 292,279 shares during the period. Finally, State Street Corp increased its holdings in shares of Arcutis Biotherapeutics by 1.2% in the second quarter. State Street Corp now owns 4,526,937 shares of the company's stock worth $63,468,000 after purchasing an additional 52,734 shares during the period.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on ARQT. Cowen reiterated a "buy" rating on shares of Arcutis Biotherapeutics in a research note on Thursday, August 7th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Arcutis Biotherapeutics in a report on Tuesday, October 14th. Mizuho set a $32.00 target price on shares of Arcutis Biotherapeutics in a research note on Wednesday, October 29th. Wall Street Zen upgraded shares of Arcutis Biotherapeutics from a "buy" rating to a "strong-buy" rating in a research note on Saturday, November 1st. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $30.00 price objective on shares of Arcutis Biotherapeutics in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell 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 $28.00.
View Our Latest Research Report on ARQT
Arcutis Biotherapeutics Company Profile
(
Get Free Report)
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.
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