Arcutis Biotherapeutics (NASDAQ:ARQT) Insider Todd Watanabe Sells 19,833 Shares

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Todd Watanabe sold 19,833 shares of Arcutis Biotherapeutics stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $25.50, for a total value of $505,741.50. Following the completion of the sale, the insider directly owned 721,306 shares of the company’s stock, valued at $18,393,303. This trade represents a 2.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 shares were sold at an average price of $30.36, for a total value 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 value of $31,650.00.

Arcutis Biotherapeutics Stock Performance

Shares of NASDAQ:ARQT opened at $26.08 on Thursday. The company has a current ratio of 3.50, a quick ratio of 3.28 and a debt-to-equity ratio of 0.68. Arcutis Biotherapeutics, Inc. has a 1-year low of $11.13 and a 1-year high of $31.77. The stock has a market capitalization of $3.19 billion, a P/E ratio of -72.44 and a beta of 1.70. The business has a 50-day moving average price of $28.23 and a two-hundred day moving average price of $22.43.

More Arcutis Biotherapeutics News

Here are the key news stories impacting Arcutis Biotherapeutics this week:

• Neutral Sentiment: Short-interest report shows effectively 0 shares short as of Feb. 3 — the data appears anomalous (increase listed as NaN and a 0.0-day days-to-cover). This reading is unlikely to be meaningful for near-term price direction.
• Negative Sentiment: Multiple insider sales totaling roughly 46,700 shares and ~ $1.19M in proceeds were disclosed (early Feb). While insiders still hold large positions, the coordinated sales by senior executives and a director increase selling pressure and may amplify negative sentiment:
  • Larry Todd Edwards sold 2,052 shares at ~$25.50 (≈ $52,326). Larry Todd Edwards Form 4
  • Director Howard G. Welgus sold 10,000 shares at ~$25.05 (≈ $250,500). Howard Welgus Form 4
  • CFO Latha Vairavan sold 1,320 shares at ~$25.50 (≈ $33,660). Latha Vairavan Form 4
  • Todd Watanabe sold 19,833 shares at ~$25.50 (≈ $505,742). Todd Watanabe Form 4
  • Patrick Burnett reported two sales (3,675 shares at $25.50 and 9,794 shares at $25.81; combined ≈ $346,496). Patrick Burnett Form 4

  Analyst Upgrades and Downgrades

  ARQT has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a research note on Monday, December 29th. Needham & Company LLC raised their price target on Arcutis Biotherapeutics from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Wall Street Zen downgraded Arcutis Biotherapeutics from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd. Mizuho raised their target price on Arcutis Biotherapeutics from $32.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, November 28th. Finally, HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Arcutis Biotherapeutics in a research report on Wednesday, October 29th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Arcutis Biotherapeutics has a consensus rating of “Moderate Buy” and an average target price of $29.20.

  Institutional Trading of Arcutis Biotherapeutics

  Hedge funds have recently added to or reduced their stakes in the business. Johnson Investment Counsel Inc. acquired a new position in Arcutis Biotherapeutics in the third quarter valued at about $30,000. SBI Securities Co. Ltd. lifted its holdings in shares of Arcutis Biotherapeutics by 325.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,089 shares of the company’s stock valued at $32,000 after purchasing an additional 833 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Arcutis Biotherapeutics by 10.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,828 shares of the company’s stock valued at $124,000 after purchasing an additional 820 shares during the period. Jones Financial Companies Lllp increased its stake in Arcutis Biotherapeutics by 1,291.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 7,067 shares of the company’s stock worth $124,000 after purchasing an additional 6,559 shares in the last quarter. Finally, Atlas Wealth LLC bought a new stake in Arcutis Biotherapeutics during the 2nd quarter worth approximately $138,000.

  About Arcutis Biotherapeutics

  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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