Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) Director Howard Welgus sold 7,144 shares of the company's stock in a transaction on Friday, May 1st. The shares were sold at an average price of $22.99, for a total transaction of $164,240.56. Following the completion of the sale, the director directly owned 32,600 shares in the company, valued at approximately $749,474. The trade was a 17.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Arcutis Biotherapeutics Price Performance
NASDAQ:ARQT opened at $23.42 on Wednesday. Arcutis Biotherapeutics, Inc. has a one year low of $12.42 and a one year high of $31.77. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.99 and a current ratio of 3.17. The firm has a market cap of $2.93 billion, a price-to-earnings ratio of -167.27 and a beta of 1.58. The firm's fifty day moving average is $23.82 and its two-hundred day moving average is $25.75.
Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.03 by $0.10. Arcutis Biotherapeutics had a negative net margin of 4.29% and a negative return on equity of 10.26%. The company had revenue of $129.50 million for the quarter, compared to analyst estimates of $110.79 million. Research analysts expect that Arcutis Biotherapeutics, Inc. will post 0.18 EPS for the current year.
Analyst Ratings Changes
A number of research analysts have weighed in on the stock. Guggenheim upped their price objective on shares of Arcutis Biotherapeutics from $34.00 to $35.00 and gave the stock a "buy" rating in a research report on Friday, February 27th. Mizuho decreased their price objective on shares of Arcutis Biotherapeutics from $37.00 to $35.00 and set an "outperform" rating for the company in a research report on Monday, March 2nd. Wall Street Zen downgraded shares of Arcutis Biotherapeutics from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 14th. TD Cowen upped their price objective on shares of Arcutis Biotherapeutics from $30.00 to $35.00 and gave the stock a "buy" rating in a research report on Thursday, February 26th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Arcutis Biotherapeutics in a research report on Friday, March 27th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $34.00.
Get Our Latest Research Report on Arcutis Biotherapeutics
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of ARQT. AQR Capital Management LLC lifted its stake in Arcutis Biotherapeutics by 21.4% in the 1st quarter. AQR Capital Management LLC now owns 248,196 shares of the company's stock valued at $3,882,000 after buying an additional 43,716 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Arcutis Biotherapeutics by 3.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,417 shares of the company's stock valued at $1,118,000 after buying an additional 2,063 shares in the last quarter. Creative Planning lifted its stake in Arcutis Biotherapeutics by 8.2% in the 2nd quarter. Creative Planning now owns 19,575 shares of the company's stock valued at $274,000 after buying an additional 1,477 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Arcutis Biotherapeutics by 1.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 548,789 shares of the company's stock valued at $7,694,000 after buying an additional 5,407 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in Arcutis Biotherapeutics by 4,562.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 11,190 shares of the company's stock valued at $157,000 after acquiring an additional 10,950 shares during the last quarter.
Arcutis Biotherapeutics Company Profile
(
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.
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