Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT – Get Rating) insider Masaru Matsuda sold 1,720 shares of the stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $18.19, for a total transaction of $31,286.80. Following the completion of the transaction, the insider now owns 19,535 shares of the company's stock, valued at approximately $355,341.65. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Arcutis Biotherapeutics Trading Up 0.6 %
Shares of ARQT traded up $0.11 during midday trading on Tuesday, hitting $18.31. The stock had a trading volume of 666,377 shares, compared to its average volume of 492,495. Arcutis Biotherapeutics, Inc. has a fifty-two week low of $13.59 and a fifty-two week high of $27.40. The business has a 50-day simple moving average of $18.47 and a two-hundred day simple moving average of $20.95. The firm has a market cap of $1.12 billion, a P/E ratio of -3.11 and a beta of 0.44. The company has a current ratio of 13.39, a quick ratio of 13.27 and a debt-to-equity ratio of 0.73.
Get Arcutis Biotherapeutics alerts:Wall Street Analyst Weigh In
Several research firms have recently weighed in on ARQT. Jonestrading restated a "buy" rating and set a $54.00 price objective on shares of Arcutis Biotherapeutics in a research report on Thursday, September 22nd. Needham & Company LLC began coverage on shares of Arcutis Biotherapeutics in a research report on Wednesday, September 7th. They set a "buy" rating and a $46.00 price objective for the company. Morgan Stanley raised their price objective on shares of Arcutis Biotherapeutics from $46.00 to $49.00 and gave the company an "overweight" rating in a research report on Tuesday, October 4th. Finally, The Goldman Sachs Group raised their price objective on shares of Arcutis Biotherapeutics from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Tuesday, August 2nd. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $51.20.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in ARQT. Credit Suisse AG lifted its position in shares of Arcutis Biotherapeutics by 2.9% in the second quarter. Credit Suisse AG now owns 17,741 shares of the company's stock worth $378,000 after purchasing an additional 502 shares in the last quarter. Point72 Hong Kong Ltd raised its position in Arcutis Biotherapeutics by 102.9% during the second quarter. Point72 Hong Kong Ltd now owns 1,197 shares of the company's stock valued at $26,000 after acquiring an additional 607 shares in the last quarter. Amalgamated Bank raised its position in Arcutis Biotherapeutics by 19.5% during the third quarter. Amalgamated Bank now owns 6,612 shares of the company's stock valued at $126,000 after acquiring an additional 1,079 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in Arcutis Biotherapeutics by 10.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 14,000 shares of the company's stock valued at $262,000 after acquiring an additional 1,300 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Arcutis Biotherapeutics by 0.4% during the third quarter. Dimensional Fund Advisors LP now owns 313,943 shares of the company's stock valued at $5,999,000 after acquiring an additional 1,335 shares in the last quarter.About Arcutis Biotherapeutics
(Get Rating)
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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