Arcutis Biotherapeutics (NASDAQ:ARQT) Insider Patrick Burnett Sells 9,794 Shares

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Patrick Burnett sold 9,794 shares of the company’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $25.81, for a total transaction of $252,783.14. Following the transaction, the insider owned 80,651 shares in the company, valued at $2,081,602.31. This represents a 10.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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 transaction of $93,712.50.
• On Monday, January 5th, Patrick Burnett sold 2,490 shares of Arcutis Biotherapeutics stock. The stock was 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 stock was sold at an average price of $24.18, for a total value of $417,105.00.

Arcutis Biotherapeutics Trading Down 0.4%

Shares of Arcutis Biotherapeutics stock opened at $26.08 on Thursday. The stock’s 50-day simple moving average is $28.23 and its 200 day simple moving average is $22.43. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.28 and a current ratio of 3.50. Arcutis Biotherapeutics, Inc. has a 52-week low of $11.13 and a 52-week 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.

More Arcutis Biotherapeutics News

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

• Positive Sentiment: Several analysts have maintained buy ratings and raised price targets (Needham, Mizuho, HC Wainwright among others); consensus remains a “Moderate Buy” with an average target near $29.20 — a positive catalyst that could limit downside from insider selling. MarketBeat ARQT analyst notes
• Neutral Sentiment: Short-interest data reported as effectively 0 shares as of Feb. 3 appears anomalous (NaN increase and 0.0 days-to-cover); this reading is unlikely to be meaningful for immediate price action. Institutional/hedge-fund position changes reported recently were small and incremental. MarketBeat short interest & institutional holdings
• Negative Sentiment: Multiple senior executives and a director disclosed sales totaling tens of thousands of shares (~46.7k shares across the filings, roughly $1.2M in proceeds across the named trades). Notable filings include Todd Watanabe (19,833 shares at ~$25.50), Masaru Matsuda (40,638 shares at ~$25.28), Director Howard Welgus (10,000 shares) and others (CFO Latha Vairavan, Patrick Burnett, Larry Todd Edwards). Coordinated/clustered insider selling can amplify near-term negative sentiment and pressure the stock. InsiderTrades alert on recent ARQT sales Todd Watanabe Form 4

Analyst Ratings Changes

A number of research analysts have commented on ARQT shares. Mizuho increased their price target on shares of Arcutis Biotherapeutics from $32.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, November 28th. The Goldman Sachs Group boosted their price target on Arcutis Biotherapeutics from $19.00 to $29.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Wall Street Zen lowered shares of Arcutis Biotherapeutics from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a research report on Monday, December 29th. Finally, HC Wainwright reissued a “buy” rating and set a $30.00 price objective on shares of Arcutis Biotherapeutics in a research note on Wednesday, October 29th. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Arcutis Biotherapeutics has an average rating of “Moderate Buy” and a consensus target price of $29.20.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Several institutional investors have recently bought and sold shares of the business. Perpetual Ltd boosted its holdings in Arcutis Biotherapeutics by 7,534.3% during the 3rd quarter. Perpetual Ltd now owns 2,024,606 shares of the company’s stock valued at $38,164,000 after acquiring an additional 1,998,086 shares during the period. Jennison Associates LLC raised its stake in shares of Arcutis Biotherapeutics by 10.3% in the third quarter. Jennison Associates LLC now owns 12,254,119 shares of the company’s stock worth $230,990,000 after purchasing an additional 1,144,714 shares during the last quarter. Frazier Life Sciences Management L.P. boosted its holdings in Arcutis Biotherapeutics by 12.4% in the second quarter. Frazier Life Sciences Management L.P. now owns 9,874,511 shares of the company’s stock valued at $138,441,000 after purchasing an additional 1,089,227 shares during the last quarter. Voloridge Investment Management LLC purchased a new stake in Arcutis Biotherapeutics in the 3rd quarter worth approximately $15,711,000. Finally, Bank of America Corp DE boosted its stake in shares of Arcutis Biotherapeutics by 133.5% during the 2nd quarter. Bank of America Corp DE now owns 1,202,513 shares of the company’s stock worth $16,859,000 after acquiring an additional 687,562 shares in the last quarter.

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.