Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT – Get Rating) insider Masaru Matsuda sold 1,720 shares of the firm’s stock in a transaction that occurred on 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 directly owns 19,535 shares of the company’s stock, valued at approximately $355,341.65. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Arcutis Biotherapeutics Stock Performance
Shares of NASDAQ: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. The company has a market capitalization of $1.12 billion, a PE ratio of -3.11 and a beta of 0.44. The stock has a 50 day moving average price of $18.47 and a two-hundred day moving average price of $20.95. The company has a current ratio of 13.39, a quick ratio of 13.27 and a debt-to-equity ratio of 0.73. Arcutis Biotherapeutics, Inc. has a 1 year low of $13.59 and a 1 year high of $27.40.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on ARQT shares. 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 report on Tuesday, August 2nd. Needham & Company LLC began coverage on shares of Arcutis Biotherapeutics in a research note on Wednesday, September 7th. They set a “buy” rating and a $46.00 price target on the stock. Morgan Stanley lifted their price target on shares of Arcutis Biotherapeutics from $46.00 to $49.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 4th. Finally, Jonestrading reiterated a “buy” rating and set a $54.00 price target on shares of Arcutis Biotherapeutics in a research note on Thursday, September 22nd. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $51.20.
Institutional Trading of Arcutis Biotherapeutics
Several hedge funds and other institutional investors have recently made changes to their positions in ARQT. Point72 Hong Kong Ltd boosted its holdings in Arcutis Biotherapeutics by 102.9% during the second quarter. Point72 Hong Kong Ltd now owns 1,197 shares of the company’s stock worth $26,000 after buying an additional 607 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Arcutis Biotherapeutics during the first quarter worth about $44,000. Amalgamated Bank purchased a new stake in Arcutis Biotherapeutics during the first quarter worth about $67,000. Amundi purchased a new stake in Arcutis Biotherapeutics during the second quarter worth about $114,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Arcutis Biotherapeutics by 332.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,892 shares of the company’s stock worth $113,000 after buying an additional 4,530 shares in the last quarter.
Arcutis Biotherapeutics Company Profile
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.