Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) insider Patrick Burnett sold 2,819 shares of Arcutis Biotherapeutics stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $13.03, for a total transaction of $36,731.57. Following the transaction, the insider now directly owns 167,043 shares of the company's stock, valued at approximately $2,176,570.29. This trade represents a 1.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Patrick Burnett also recently made the following trade(s):
- On Tuesday, December 31st, Patrick Burnett sold 1,691 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $14.00, for a total transaction of $23,674.00.
Arcutis Biotherapeutics Trading Up 4.4 %
Shares of ARQT stock opened at $13.40 on Wednesday. The stock has a market cap of $1.59 billion, a P/E ratio of -7.49 and a beta of 1.29. Arcutis Biotherapeutics, Inc. has a 1 year low of $6.99 and a 1 year high of $16.20. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67. The stock has a 50 day simple moving average of $13.49 and a 200 day simple moving average of $11.51.
Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.19. The firm had revenue of $71.36 million during the quarter, compared to analysts' expectations of $60.52 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. On average, research analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Arcutis Biotherapeutics
Several institutional investors and hedge funds have recently bought and sold shares of ARQT. Point72 Asset Management L.P. raised its position in shares of Arcutis Biotherapeutics by 617.5% in the 4th quarter. Point72 Asset Management L.P. now owns 1,753,522 shares of the company's stock valued at $24,427,000 after buying an additional 1,509,136 shares in the last quarter. Cercano Management LLC acquired a new position in Arcutis Biotherapeutics during the fourth quarter valued at approximately $17,487,000. Millennium Management LLC raised its position in Arcutis Biotherapeutics by 101.3% during the fourth quarter. Millennium Management LLC now owns 2,310,163 shares of the company's stock valued at $32,181,000 after purchasing an additional 1,162,690 shares in the last quarter. Rubric Capital Management LP lifted its stake in Arcutis Biotherapeutics by 11.7% during the third quarter. Rubric Capital Management LP now owns 10,966,672 shares of the company's stock worth $101,990,000 after purchasing an additional 1,150,000 shares during the last quarter. Finally, Driehaus Capital Management LLC acquired a new stake in shares of Arcutis Biotherapeutics in the 4th quarter valued at $15,278,000.
Analyst Ratings Changes
Several research firms have weighed in on ARQT. Guggenheim reissued a "buy" rating on shares of Arcutis Biotherapeutics in a report on Monday, February 24th. Mizuho increased their target price on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. HC Wainwright reissued a "buy" rating and set a $19.00 price target on shares of Arcutis Biotherapeutics in a report on Wednesday, February 26th. Needham & Company LLC reaffirmed a "buy" rating and issued a $20.00 price objective on shares of Arcutis Biotherapeutics in a report on Wednesday, February 26th. Finally, The Goldman Sachs Group lifted their target price on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a "neutral" rating in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $18.00.
View Our Latest Stock Report on ARQT
About Arcutis Biotherapeutics
(
Get Free Report)
Arcutis Biotherapeutics, Inc, a biopharmaceutical company, focuses on developing and commercializing treatments for dermatological diseases. Its lead product candidate is ARQ-151, a topical roflumilast cream that has completed Phase III clinical trials for the treatment of plaque psoriasis and atopic dermatitis.
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