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

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Howard G. Welgus sold 10,000 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $9.26, for a total transaction of $92,600.00. Following the completion of the transaction, the director now directly owns 181,944 shares in the company, valued at $1,684,801.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Arcutis Biotherapeutics Trading Down 1.5 %

Arcutis Biotherapeutics stock opened at $10.02 on Friday. The company has a 50 day moving average price of $9.81 and a 200 day moving average price of $9.50. The company has a debt-to-equity ratio of 1.09, a quick ratio of 8.19 and a current ratio of 8.46. Arcutis Biotherapeutics, Inc. has a 52 week low of $1.76 and a 52 week high of $13.17. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -3.42 and a beta of 1.17.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.42) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.06. The business had revenue of $30.86 million for the quarter, compared to the consensus estimate of $31.00 million. Arcutis Biotherapeutics had a negative return on equity of 145.41% and a negative net margin of 150.51%. During the same quarter in the previous year, the company posted ($1.16) earnings per share. Research analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.56 EPS for the current year.

Hedge Funds Weigh In On Arcutis Biotherapeutics

A number of large investors have recently made changes to their positions in ARQT. Vestal Point Capital LP purchased a new position in Arcutis Biotherapeutics during the fourth quarter valued at approximately $8,721,000. Rubric Capital Management LP increased its stake in shares of Arcutis Biotherapeutics by 32.0% in the fourth quarter. Rubric Capital Management LP now owns 6,644,530 shares of the company’s stock worth $21,462,000 after acquiring an additional 1,610,000 shares during the last quarter. Pivotal bioVenture Partners Investment Advisor LLC raised its holdings in shares of Arcutis Biotherapeutics by 72.8% during the fourth quarter. Pivotal bioVenture Partners Investment Advisor LLC now owns 1,910,009 shares of the company’s stock worth $6,169,000 after acquiring an additional 804,700 shares in the last quarter. Ghisallo Capital Management LLC purchased a new stake in shares of Arcutis Biotherapeutics during the fourth quarter worth $323,000. Finally, Pennant Investors LP acquired a new stake in Arcutis Biotherapeutics during the fourth quarter valued at $552,000.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ARQT. Jefferies Financial Group assumed coverage on shares of Arcutis Biotherapeutics in a research report on Wednesday, August 28th. They issued a “buy” rating and a $15.00 price target on the stock. Needham & Company LLC restated a “buy” rating and issued a $18.00 target price on shares of Arcutis Biotherapeutics in a report on Thursday, August 15th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Arcutis Biotherapeutics presently has an average rating of “Moderate Buy” and an average price target of $13.33.

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.