Arcutis Biotherapeutics (NASDAQ:ARQT) Insider Sells $252,783.14 in Stock

by · The Markets Daily

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT – Get Free Report) insider Patrick Burnett sold 9,794 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $25.81, for a total value of $252,783.14. Following the transaction, the insider owned 80,651 shares of the company’s stock, valued at $2,081,602.31. This trade represents a 10.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Patrick Burnett also recently made the following trade(s):

  • On Monday, February 2nd, Patrick Burnett sold 3,675 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $25.50, for a total value of $93,712.50.
  • On Monday, January 5th, Patrick Burnett sold 2,490 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $28.98, for a total value of $72,160.20.
  • On Wednesday, December 31st, Patrick Burnett sold 1,697 shares of Arcutis Biotherapeutics stock. The shares were 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 stock was 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 shares were sold at an average price of $24.18, for a total transaction of $417,105.00.

Arcutis Biotherapeutics Price Performance

Arcutis Biotherapeutics stock traded down $0.11 during trading hours on Wednesday, hitting $26.08. 2,300,007 shares of the stock were exchanged, compared to its average volume of 1,508,695. Arcutis Biotherapeutics, Inc. has a 12 month low of $11.13 and a 12 month high of $31.77. The business’s 50-day moving average is $28.32 and its two-hundred day moving average is $22.41. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.28 and a current ratio of 3.50. The stock has a market capitalization of $3.19 billion, a P/E ratio of -72.44 and a beta of 1.70.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Several institutional investors have recently modified their holdings of the business. Focus Partners Wealth lifted its holdings in Arcutis Biotherapeutics by 0.8% in the third quarter. Focus Partners Wealth now owns 65,196 shares of the company’s stock valued at $1,237,000 after buying an additional 490 shares during the period. Arizona State Retirement System grew its holdings in Arcutis Biotherapeutics by 1.8% during the third quarter. Arizona State Retirement System now owns 31,685 shares of the company’s stock valued at $597,000 after purchasing an additional 568 shares during the period. AlphaQuest LLC increased its stake in Arcutis Biotherapeutics by 5.7% in the third quarter. AlphaQuest LLC now owns 12,603 shares of the company’s stock valued at $238,000 after purchasing an additional 682 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Arcutis Biotherapeutics by 10.2% in the second quarter. PNC Financial Services Group Inc. now owns 8,828 shares of the company’s stock worth $124,000 after purchasing an additional 820 shares during the period. Finally, SBI Securities Co. Ltd. boosted its position in shares of Arcutis Biotherapeutics by 325.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,089 shares of the company’s stock worth $32,000 after purchasing an additional 833 shares in the last quarter.

Analyst Ratings Changes

ARQT has been the topic of several research analyst reports. Needham & Company LLC increased their target price on Arcutis Biotherapeutics from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, January 26th. HC Wainwright reissued a “buy” rating and set a $30.00 price objective on shares of Arcutis Biotherapeutics in a report on Wednesday, October 29th. Wall Street Zen downgraded shares of Arcutis Biotherapeutics from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 23rd. Mizuho upped their target price 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. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a report on Monday, December 29th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $29.20.

Get Our Latest Stock Analysis on ARQT

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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