Howard Welgus Sells 4,096 Shares of Arcutis Biotherapeutics (NASDAQ:ARQT) Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Howard Welgus sold 4,096 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $24.41, for a total transaction of $99,983.36. Following the transaction, the director directly owned 38,378 shares of the company’s stock, valued at $936,806.98. The trade was a 9.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ:ARQT opened at $26.21 on Friday. The firm’s 50 day moving average is $22.74 and its two-hundred day moving average is $25.12. Arcutis Biotherapeutics, Inc. has a 52 week low of $13.06 and a 52 week high of $31.77. The firm has a market capitalization of $3.28 billion, a P/E ratio of -873.38 and a beta of 1.51. The company has a current ratio of 2.68, a quick ratio of 2.46 and a debt-to-equity ratio of 0.54.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). The business had revenue of $105.40 million for the quarter, compared to the consensus estimate of $103.67 million. Arcutis Biotherapeutics had a negative net margin of 0.57% and a negative return on equity of 1.41%. Analysts anticipate that Arcutis Biotherapeutics, Inc. will post 0.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ARQT shares. Guggenheim boosted their price target on Arcutis Biotherapeutics from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Mizuho lowered their price target on Arcutis Biotherapeutics from $37.00 to $35.00 and set an “outperform” rating on the stock in a report on Monday, March 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a research note on Friday, March 27th. Wall Street Zen downgraded shares of Arcutis Biotherapeutics from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, HC Wainwright increased their target price on shares of Arcutis Biotherapeutics from $30.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Five 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. According to data from MarketBeat.com, Arcutis Biotherapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. SBI Securities Co. Ltd. grew its holdings in Arcutis Biotherapeutics by 325.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,089 shares of the company’s stock worth $32,000 after acquiring an additional 833 shares during the period. Global Retirement Partners LLC acquired a new stake in Arcutis Biotherapeutics in the 4th quarter valued at about $35,000. EverSource Wealth Advisors LLC boosted its position in shares of Arcutis Biotherapeutics by 124.0% during 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 boosted its position in shares of Arcutis Biotherapeutics by 209.0% during the 4th quarter. NewEdge Advisors LLC now owns 1,545 shares of the company’s stock valued at $45,000 after purchasing an additional 1,045 shares in the last quarter. Finally, Truvestments Capital LLC grew its stake in shares of Arcutis Biotherapeutics by 114.2% in the 4th quarter. Truvestments Capital LLC now owns 3,012 shares of the company’s stock worth $87,000 after purchasing an additional 1,606 shares during 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.