Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) CFO Sells $110,214.48 in Stock

by · The Markets Daily

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT – Get Free Report) CFO David Joseph Topper sold 11,626 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $9.48, for a total value of $110,214.48. Following the transaction, the chief financial officer now owns 158,374 shares of the company’s stock, valued at $1,501,385.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Arcutis Biotherapeutics Price Performance

Shares of ARQT opened at $9.36 on Friday. The company has a current ratio of 8.46, a quick ratio of 8.19 and a debt-to-equity ratio of 1.09. The firm’s fifty day simple moving average is $9.83 and its 200-day simple moving average is $9.52. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -3.19 and a beta of 1.18. Arcutis Biotherapeutics, Inc. has a twelve month low of $1.76 and a twelve month high of $13.17.

Arcutis Biotherapeutics (NASDAQ:ARQT – Get Free Report) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.06. The company had revenue of $30.86 million during 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 period in the previous year, the business earned ($1.16) EPS. Equities analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 target price on shares of Arcutis Biotherapeutics in a research report on Thursday, August 15th. Jefferies Financial Group initiated coverage on shares of Arcutis Biotherapeutics in a report on Wednesday, August 28th. They set a “buy” rating and a $15.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $13.33.

View Our Latest Research Report on ARQT

Hedge Funds Weigh In On Arcutis Biotherapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cape Investment Advisory Inc. purchased a new stake in shares of Arcutis Biotherapeutics during the 4th quarter worth approximately $26,000. Cantor Fitzgerald L. P. purchased a new stake in Arcutis Biotherapeutics in the fourth quarter valued at $33,000. Victory Capital Management Inc. acquired a new position in Arcutis Biotherapeutics in the fourth quarter valued at $34,000. CWM LLC grew its holdings in shares of Arcutis Biotherapeutics by 6,740.0% during the second quarter. CWM LLC now owns 4,104 shares of the company’s stock worth $38,000 after purchasing an additional 4,044 shares during the last quarter. Finally, Ameritas Investment Partners Inc. lifted its holdings in shares of Arcutis Biotherapeutics by 55.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 7,871 shares of the company’s stock valued at $78,000 after purchasing an additional 2,800 shares during the last quarter.

About Arcutis Biotherapeutics

(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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