Arcutis Biotherapeutics (NASDAQ:ARQT) Trading Down 9.4% – Time to Sell?

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) fell 9.4% on Friday . The company traded as low as $25.46 and last traded at $25.3250. 1,969,619 shares changed hands during mid-day trading, an increase of 43% from the average session volume of 1,379,279 shares. The stock had previously closed at $27.95.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Zacks Research cut Arcutis Biotherapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Needham & Company LLC upped their target price on shares of Arcutis Biotherapeutics from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price on shares of Arcutis Biotherapeutics in a research note on Wednesday, October 29th. Wall Street Zen downgraded shares of Arcutis Biotherapeutics from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 14th. Finally, The Goldman Sachs Group lifted their target price on Arcutis Biotherapeutics from $19.00 to $29.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Arcutis Biotherapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $29.20.

Arcutis Biotherapeutics Stock Down 9.1%

The company has a current ratio of 3.50, a quick ratio of 3.28 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of -70.61 and a beta of 1.70. The firm’s fifty day simple moving average is $27.42 and its two-hundred day simple moving average is $23.29.

Insider Buying and Selling

In other Arcutis Biotherapeutics news, Director Howard G. Welgus sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $28.96, for a total transaction of $289,600.00. Following the completion of the transaction, the director owned 69,744 shares in the company, valued at $2,019,786.24. The trade was a 12.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Masaru Matsuda sold 40,638 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $25.28, for a total value of $1,027,328.64. Following the completion of the transaction, the insider directly owned 110,003 shares in the company, valued at $2,780,875.84. This trade represents a 26.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 198,873 shares of company stock worth $5,576,208 over the last three months. 9.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC raised its holdings in Arcutis Biotherapeutics by 21.4% during the first quarter. AQR Capital Management LLC now owns 248,196 shares of the company’s stock worth $3,882,000 after purchasing an additional 43,716 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Arcutis Biotherapeutics by 3.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,417 shares of the company’s stock valued at $1,118,000 after acquiring an additional 2,063 shares during the last quarter. AlphaQuest LLC increased its holdings in Arcutis Biotherapeutics by 101.1% during the 2nd quarter. AlphaQuest LLC now owns 11,921 shares of the company’s stock valued at $167,000 after acquiring an additional 5,994 shares in the last quarter. Corton Capital Inc. acquired a new stake in shares of Arcutis Biotherapeutics in the second quarter valued at approximately $238,000. Finally, Atlas Wealth LLC acquired a new position in shares of Arcutis Biotherapeutics during the 2nd quarter worth approximately $138,000.

Arcutis Biotherapeutics Company Profile

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.