Arcutis Biotherapeutics (NASDAQ:ARQT) Insider Sells $505,741.50 in Stock

by · The Cerbat Gem

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT – Get Free Report) insider Todd Watanabe sold 19,833 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $25.50, for a total transaction of $505,741.50. Following the completion of the sale, the insider owned 721,306 shares of the company’s stock, valued at $18,393,303. This trade represents a 2.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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 transaction of $1,485,970.20.
  • On Friday, November 21st, Todd Watanabe sold 1,055 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $30.00, for a total transaction of $31,650.00.

Arcutis Biotherapeutics Price Performance

NASDAQ ARQT traded down $0.11 during mid-day trading on Wednesday, hitting $26.08. The stock had a trading volume of 2,300,007 shares, compared to its average volume of 1,508,695. The company has a 50 day simple moving average of $28.32 and a 200 day simple moving average of $22.41. The company has a market cap of $3.19 billion, a price-to-earnings ratio of -72.44 and a beta of 1.70. Arcutis Biotherapeutics, Inc. has a 52-week low of $11.13 and a 52-week high of $31.77. The company has a quick ratio of 3.28, a current ratio of 3.50 and a debt-to-equity ratio of 0.68.

Institutional Trading of Arcutis Biotherapeutics

A number of hedge funds have recently added to or reduced their stakes in ARQT. Independent Advisor Alliance increased its stake in shares of Arcutis Biotherapeutics by 25.1% during the 4th quarter. Independent Advisor Alliance now owns 25,303 shares of the company’s stock valued at $735,000 after acquiring an additional 5,069 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Arcutis Biotherapeutics in the fourth quarter worth approximately $414,000. Trek Financial LLC purchased a new stake in Arcutis Biotherapeutics in the fourth quarter valued at approximately $540,000. Ballentine Partners LLC acquired a new position in Arcutis Biotherapeutics during the fourth quarter worth approximately $307,000. Finally, RFG Advisory LLC acquired a new position in shares of Arcutis Biotherapeutics in the 4th quarter valued at $1,577,000.

Analyst Ratings Changes

Several analysts have issued reports on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price target on shares of Arcutis Biotherapeutics in a report on Wednesday, October 29th. Needham & Company LLC upped their target price on Arcutis Biotherapeutics from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Wall Street Zen cut Arcutis Biotherapeutics from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd. The Goldman Sachs Group upped their price objective on Arcutis Biotherapeutics from $19.00 to $29.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Finally, Mizuho increased their price objective on Arcutis Biotherapeutics from $32.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, November 28th. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $29.20.

Read Our Latest Stock Analysis on Arcutis Biotherapeutics

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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