Insider Selling: Arcutis Biotherapeutics (NASDAQ:ARQT) Insider Sells $52,326.00 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Larry Todd Edwards sold 2,052 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $25.50, for a total transaction of $52,326.00. Following the completion of the sale, the insider owned 148,865 shares in the company, valued at approximately $3,796,057.50. This trade represents a 1.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Larry Todd Edwards also recently made the following trade(s):

• On Thursday, November 6th, Larry Todd Edwards sold 29,131 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $25.16, for a total transaction of $732,935.96.

Arcutis Biotherapeutics Stock Up 4.8%

NASDAQ ARQT opened at $27.32 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.50 and a quick ratio of 3.28. The company’s 50 day simple moving average is $28.07 and its 200 day simple moving average is $22.55. Arcutis Biotherapeutics, Inc. has a 12 month low of $11.13 and a 12 month high of $31.77. The company has a market capitalization of $3.35 billion, a P/E ratio of -75.89 and a beta of 1.70.

Institutional Trading of Arcutis Biotherapeutics

A number of hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its holdings in shares of Arcutis Biotherapeutics by 124.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the company’s stock worth $37,000 after purchasing an additional 698 shares during the period. Global Retirement Partners LLC purchased a new stake in Arcutis Biotherapeutics in the 4th quarter worth approximately $35,000. PSP Research LLC acquired a new stake in shares of Arcutis Biotherapeutics during the 4th quarter valued at $544,000. PNC Financial Services Group Inc. grew its holdings in shares of Arcutis Biotherapeutics by 58.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,597 shares of the company’s stock valued at $395,000 after acquiring an additional 4,991 shares in the last quarter. Finally, Handelsbanken Fonder AB purchased a new position in shares of Arcutis Biotherapeutics during the 4th quarter valued at $996,000.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ARQT shares. Mizuho raised their price objective on Arcutis Biotherapeutics from $32.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, November 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a report on Monday, December 29th. Needham & Company LLC lifted their price target on Arcutis Biotherapeutics from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Zacks Research downgraded Arcutis Biotherapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Finally, Wall Street Zen cut shares of Arcutis Biotherapeutics from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $29.20.

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.