Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) CEO Sells $46,112.50 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) CEO Todd Franklin Watanabe sold 1,750 shares of the firm’s stock in a transaction on 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 through 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.

NASDAQ ARQT opened at $28.15 on Friday. The company’s 50-day moving average is $28.30. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of -8.04 and a beta of 0.30. Arcutis Biotherapeutics, Inc. has a fifty-two week low of $17.51 and a fifty-two week high of $39.85.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings data on Monday, May 3rd. The company reported ($0.76) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.96) by $0.20. Equities research analysts forecast that Arcutis Biotherapeutics, Inc. will post -4.76 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC raised its stake in shares of Arcutis Biotherapeutics by 706.1% during the 1st quarter. Cubist Systematic Strategies LLC now owns 13,769 shares of the company’s stock valued at $398,000 after buying an additional 12,061 shares during the last quarter. Citadel Advisors LLC raised its stake in shares of Arcutis Biotherapeutics by 238.4% during the 1st quarter. Citadel Advisors LLC now owns 452,456 shares of the company’s stock valued at $13,089,000 after buying an additional 318,753 shares during the last quarter. California State Teachers Retirement System increased its stake in shares of Arcutis Biotherapeutics by 11.3% in the 1st 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 in the last quarter. Royal Bank of Canada increased its stake in shares of Arcutis Biotherapeutics by 545.5% in the 1st 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 in the last quarter. Finally, Polar Capital Holdings Plc increased its stake in shares of Arcutis Biotherapeutics by 101.0% in the 1st 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 in the last quarter. Institutional investors and hedge funds own 93.14% of the company’s stock.

A number of equities analysts recently issued reports on the company. Zacks Investment Research upgraded Arcutis Biotherapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, April 20th. Morgan Stanley upgraded Arcutis Biotherapeutics from an “equal weight” rating to an “overweight” rating and set a $52.00 target price for the company in a research note on Thursday, May 27th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $51.20.

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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