Shares of Arcutis Biotherapeutics (NASDAQ:ARQT) fell 3.3%

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT – Get Free Report ) traded down 3.3% during mid-day trading on Wednesday. The company traded as high as $9.90 and last traded at $10.03. 435,462 shares changed hands during trading, down 88% from the session’s average volume of 3,496,253 shares. Shares previously closed at $10.37.

Analyst upgrades and downgrades

ARQT has been the subject of several research analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price objective on shares of Arcutis Biotherapeutics in a research report on Thursday, August 15th. Jefferies Financial Group started coverage on Arcutis Biotherapeutics in a research note on Wednesday, August 28th. They issued a “buy” rating and a $15.00 price objective for the company. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Moderate Buy” and a consensus price target of $13.33, based on data from MarketBeat.com.

Check out the latest stock report on ARQT

Arcutis Biotherapeutics trading down 1.4%

The firm has a market cap of $1.18 billion, a price-to-earnings ratio of -3.49 and a beta of 1.18. The company’s 50-day moving average price is $9.92, and its two-hundred-day moving average price is $9.56. The company has a debt-to-equity ratio of 1.09, a current ratio of 8.46, and a quick ratio of 8.19.

Arcutis Biotherapeutics (NASDAQ:ARQT – Get Free Report ) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.06. Arcutis Biotherapeutics had a negative net margin of 150.51% and a negative return on equity of 145.41%. The firm had revenue of $30.86 million for the quarter, compared to analysts’ expectations of $31.00 million. In the same period last year, the company posted ($1.16) earnings per share. Equities analysts expect that Arcutis Biotherapeutics, Inc. to post -1.56 earnings per share for the current year.

Internal activity at Arcutis Biotherapeutics

In related news, Director Howard G. Welgus sold 10,000 shares of Arcutis Biotherapeutics stock in a transaction on Monday, July 1st. The shares were sold at an average price of $9.31, for a total transaction of $93,100.00. Following the sale, the director now owns 180,339 shares of the company’s stock, valued at approximately $1,678,956.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible via this link. In other news, Director Howard G. Welgus sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $9.31, for a total transaction of $93,100.00. Following the completion of the sale, the director now owns 180,339 shares of the company’s stock, valued at $1,678,956.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this link. Also, insider Masaru Matsuda sold 5,220 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $9.02, for a total value of $47,084.40. Following the sale, the insider now owns 183,288 shares in the company, valued at approximately $1,653,257.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,948 shares of company stock worth $360,910. Corporate insiders own 9.50% of the company’s shares.

Institutional inputs and outputs

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cape Investment Advisory Inc. bought a new stake in Arcutis Biotherapeutics in the 4th quarter valued at about $26,000. Cantor Fitzgerald LP bought a new stake in shares of Arcutis Biotherapeutics in the fourth quarter valued at about $33,000. Victory Capital Management Inc. acquired a new stake in Arcutis Biotherapeutics in the fourth quarter valued at approximately $34,000. Amalgamated Bank raised its stake in Arcutis Biotherapeutics by 48.9% during the 4th quarter. Amalgamated Bank now owns 11,078 shares of the company’s stock valued at $36,000 after buying an additional 3,639 shares during the period. Finally, CWM LLC grew its position in shares of Arcutis Biotherapeutics by 6,740.0% in the 2nd quarter. CWM LLC now owns 4,104 shares of the company’s stock worth $38,000 after buying an additional 4,044 shares in the last quarter .

About Arcutis Biotherapeutics

(Get a free report)

Arcutis Biotherapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of 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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