Insider Selling: Arcutis Biotherapeutics (NASDAQ:ARQT) Insider Sells $92,838.66 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Larry Todd Edwards sold 3,687 shares of the firm’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $25.18, for a total value of $92,838.66. Following the completion of the transaction, the insider directly owned 175,178 shares in the company, valued at $4,410,982.04. The trade was a 2.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Monday, February 2nd, Larry Todd Edwards sold 2,052 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $25.50, for a total value of $52,326.00.

Arcutis Biotherapeutics Stock Performance

NASDAQ ARQT opened at $23.97 on Friday. Arcutis Biotherapeutics, Inc. has a 1-year low of $11.86 and a 1-year high of $31.77. The stock has a market capitalization of $2.97 billion, a PE ratio of -171.20 and a beta of 1.66. The business has a 50 day simple moving average of $26.82 and a two-hundred day simple moving average of $24.03. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.17 and a quick ratio of 2.99.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.10. Arcutis Biotherapeutics had a negative net margin of 4.29% and a negative return on equity of 10.26%. The firm had revenue of $129.50 million during the quarter, compared to the consensus estimate of $110.79 million. On average, research analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ARQT. Zacks Research lowered Arcutis Biotherapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. TD Cowen upped their target price on Arcutis Biotherapeutics from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Guggenheim raised their price target on Arcutis Biotherapeutics from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Needham & Company LLC boosted their price target on Arcutis Biotherapeutics from $31.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a report on Monday, December 29th. Six research 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 presently has an average rating of “Moderate Buy” and a consensus price target of $31.86.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ARQT. SBI Securities Co. Ltd. increased its stake in Arcutis Biotherapeutics by 325.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,089 shares of the company’s stock worth $32,000 after buying an additional 833 shares in the last quarter. Global Retirement Partners LLC acquired a new position in Arcutis Biotherapeutics in the 4th quarter valued at $35,000. EverSource Wealth Advisors LLC lifted its holdings in Arcutis Biotherapeutics by 124.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the company’s stock valued at $37,000 after purchasing an additional 698 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of Arcutis Biotherapeutics by 209.0% during the fourth quarter. NewEdge Advisors LLC now owns 1,545 shares of the company’s stock worth $45,000 after buying an additional 1,045 shares in the last quarter. Finally, Johnson Investment Counsel Inc. acquired a new stake in shares of Arcutis Biotherapeutics in the third quarter valued at about $30,000.

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.