Key Points
- On January 5, insider Patrick Burnett sold 2,490 shares of Arcutis at an average price of $28.98 for $72,160.20, trimming his position by 2.58% to 94,120 shares (valued at about $2.73M).
- The Jan. 5 sale is part of a string of recent disposals by Burnett — including large sales on Nov. 6 (17,250 shares) and Dec. 15 (11,500 shares) — totaling just over $1.0M of insider sales in recent months.
- ARQT trades near $29.58 with a market cap of $3.62B and a consensus "Moderate Buy" rating (average PT $29); the company recently beat revenue and EPS estimates but remains unprofitable with negative margins and an expected -1.33 EPS for the fiscal year.
Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) insider Patrick Burnett sold 2,490 shares of the business's stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $28.98, for a total value of $72,160.20. Following the completion of the sale, the insider owned 94,120 shares in the company, valued at $2,727,597.60. The trade was a 2.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Patrick Burnett also recently made the following trade(s):
- On Wednesday, December 31st, Patrick Burnett sold 1,697 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $29.20, for a total transaction of $49,552.40.
- On Monday, December 15th, Patrick Burnett sold 11,500 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $28.94, for a total transaction of $332,810.00.
- On Thursday, November 6th, Patrick Burnett sold 17,250 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $24.18, for a total transaction of $417,105.00.
- On Wednesday, November 5th, Patrick Burnett sold 3,864 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $23.72, for a total value of $91,654.08.
- On Monday, November 3rd, Patrick Burnett sold 2,622 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $24.72, for a total value of $64,815.84.
Arcutis Biotherapeutics Trading Up 1.2%
NASDAQ ARQT opened at $29.58 on Thursday. The company has a market cap of $3.62 billion, a PE ratio of -82.17 and a beta of 1.71. Arcutis Biotherapeutics, Inc. has a 12 month low of $11.13 and a 12 month high of $31.77. The stock has a 50 day moving average of $28.11 and a 200-day moving average of $20.76. The company has a current ratio of 3.50, a quick ratio of 3.28 and a debt-to-equity ratio of 0.68.
Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last issued its earnings results on Tuesday, October 28th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.10) by $0.16. Arcutis Biotherapeutics had a negative net margin of 13.94% and a negative return on equity of 29.69%. The company had revenue of $99.22 million for the quarter, compared to analysts' expectations of $86.69 million. On average, equities research analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research firms have commented on ARQT. Needham & Company LLC upped their price objective on shares of Arcutis Biotherapeutics from $22.00 to $30.00 and gave the company a "buy" rating in a report on Tuesday, October 28th. HC Wainwright reiterated a "buy" rating and set a $30.00 target price on shares of Arcutis Biotherapeutics in a research note on Wednesday, October 29th. Zacks Research lowered Arcutis Biotherapeutics from a "strong-buy" rating to a "hold" rating in a report on Monday, December 29th. Wall Street Zen raised Arcutis Biotherapeutics from a "buy" rating to a "strong-buy" rating in a report on Sunday. Finally, Mizuho raised their price target on shares of Arcutis Biotherapeutics from $32.00 to $37.00 and gave the stock an "outperform" rating in a research report on Friday, November 28th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Arcutis Biotherapeutics has a consensus rating of "Moderate Buy" and an average price target of $29.00.
Read Our Latest Analysis on ARQT
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the stock. Johnson Investment Counsel Inc. acquired a new position in Arcutis Biotherapeutics in the third quarter valued at about $30,000. PNC Financial Services Group Inc. increased its holdings in Arcutis Biotherapeutics by 10.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,828 shares of the company's stock valued at $124,000 after buying an additional 820 shares during the period. Jones Financial Companies Lllp increased its holdings in Arcutis Biotherapeutics by 1,291.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 7,067 shares of the company's stock valued at $124,000 after buying an additional 6,559 shares during the period. Atlas Wealth LLC acquired a new position in shares of Arcutis Biotherapeutics in the 2nd quarter valued at approximately $138,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Arcutis Biotherapeutics during the 2nd quarter worth approximately $145,000.
About Arcutis Biotherapeutics
(
Get Free Report)
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.
Further Reading
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