Insider Selling: Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) CEO Sells 1,750 Shares of Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) CEO Todd Franklin Watanabe sold 1,750 shares of Arcutis Biotherapeutics stock in a transaction dated Monday, June 7th. The stock was sold at an average price of $26.35, for a total value of $46,112.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Todd Franklin Watanabe also recently made the following trade(s):

  • On Friday, May 7th, Todd Franklin Watanabe sold 750 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $35.00, for a total value of $26,250.00.
  • On Wednesday, May 5th, Todd Franklin Watanabe sold 1,750 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $34.00, for a total value of $59,500.00.
  • On Monday, April 5th, Todd Franklin Watanabe sold 1,750 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $29.93, for a total value of $52,377.50.

ARQT opened at $28.15 on Friday. Arcutis Biotherapeutics, Inc. has a one year low of $17.51 and a one year high of $39.85. The firm has a market capitalization of $1.41 billion, a PE ratio of -8.04 and a beta of 0.30. The firm has a 50 day simple moving average of $28.30.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings data on Monday, May 3rd. The company reported ($0.76) EPS for the quarter, beating analysts’ consensus estimates of ($0.96) by $0.20. On average, equities research analysts expect that Arcutis Biotherapeutics, Inc. will post -4.76 EPS for the current year.

ARQT has been the topic of several recent research reports. Morgan Stanley upgraded Arcutis Biotherapeutics from an “equal weight” rating to an “overweight” rating and set a $52.00 target price on the stock in a report on Thursday, May 27th. Zacks Investment Research upgraded Arcutis Biotherapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, April 20th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $51.20.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC lifted its holdings in Arcutis Biotherapeutics by 706.1% in the first quarter. Cubist Systematic Strategies LLC now owns 13,769 shares of the company’s stock valued at $398,000 after acquiring an additional 12,061 shares during the last quarter. Citadel Advisors LLC raised its position in Arcutis Biotherapeutics by 238.4% in the first quarter. Citadel Advisors LLC now owns 452,456 shares of the company’s stock valued at $13,089,000 after purchasing an additional 318,753 shares during the period. California State Teachers Retirement System raised its position in Arcutis Biotherapeutics by 11.3% in the first quarter. California State Teachers Retirement System now owns 34,863 shares of the company’s stock valued at $1,009,000 after purchasing an additional 3,541 shares during the period. Royal Bank of Canada raised its position in Arcutis Biotherapeutics by 545.5% in the first quarter. Royal Bank of Canada now owns 2,085 shares of the company’s stock valued at $60,000 after purchasing an additional 1,762 shares during the period. Finally, Polar Capital Holdings Plc raised its position in Arcutis Biotherapeutics by 101.0% in the first quarter. Polar Capital Holdings Plc now owns 1,557,543 shares of the company’s stock valued at $45,060,000 after purchasing an additional 782,543 shares during the period. Hedge funds and other institutional investors own 93.14% of the company’s stock.

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.

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Insider Buying and Selling by Quarter for Arcutis Biotherapeutics (NASDAQ:ARQT)

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