ARQT Director Howard G. Welgus Sells $127K of Stock

Arcutis Biotherapeutics, Inc. director Howard G. Welgus sold 4,728 shares of the company on October 15, 2026, according to a Form 4 filing with the Securities and Exchange Commission. The shares were sold at $26.93 each, totaling about $127,325. This pre-arranged transaction cut his direct stake by 11.84%, leaving him with 35,207 shares. The stock closed at $29.10 on the day of the sale.

ARQT Arcutis Biotherapeutics, Inc.

$31.89 ▲ +9.97% year to date

1M 3M YTD

Daily close · Oct 19, 2026

Inside Howard G. Welgus's Arcutis Biotherapeutics Trade

The sale was carried out under a pre-arranged Rule 10b5-1 trading plan. This marks another planned transaction for Welgus, who previously sold shares in September. Following this latest sale, his remaining holdings stand at 35,207 shares.

Other Institutional Activity in Arcutis Biotherapeutics

Other large funds adjusted their positions in the biopharmaceutical firm earlier in the year. Montanova Capital LLC grew its holdings by 109,713 shares, ending with 12,437,000 shares worth about $396.6 million. Frazier Life Sciences Management, L.P. held steady with 9,874,511 shares valued at roughly $314.9 million. Rubric Capital Management LP kept its stake at 8,271,577 shares worth around $263.8 million. Polar Capital Holdings PLC grew its holdings by 940,125 shares, ending with 6,606,945 shares worth about $210.7 million. Marshall Wace grew its holdings by 1,977,545 shares, ending with 2,431,778 shares worth about $63.8 million.

Arcutis Biotherapeutics, Inc. Stock Up 25.7%

The stock recently traded around $31.89 as of October 19, 2026, sitting roughly 9.6% above its closing price of $29.10 on the day of the insider trade.

Recent Earnings

The company reported $463,980,992 in trailing twelve-month revenue, alongside basic earnings per share of $0.22. Arcutis also generated a return on equity of 15.9% and a net profit margin of 6.1%. Its next financial results are scheduled for release on October 27, 2026.

Insider Buying and Selling at Arcutis Biotherapeutics, Inc.

Insider activity in recent months included multiple transactions by company directors and officers. Director Terrie Curran sold 1,072 shares on August 20, 2026, at $26.04 each for a total of $27,912, and later sold 38,200 shares on August 27, 2026, at $25.03 each for about $956,123. Officer Masaru Matsuda sold 9,989 shares on September 8, 2026, at $25.03 each for $249,986. Howard G. Welgus also sold 4,730 shares earlier on September 15, 2026, at $24.18 each for $114,371.

Analysts Set New Price Targets

Wall Street analysts updated their views on the stock over the summer and fall. Morgan Stanley maintained an overweight rating with a target of $38.00 on August 6, 2026. Guggenheim maintained a buy rating, lifting its target from $35.00 to $38.00 on the same day, and later raised it to $44.00 on October 19, 2026. Needham maintained a buy rating, raising its target from $36.00 to $40.00 on August 6, 2026. Cantor Fitzgerald initiated coverage with an overweight rating and a $48.00 price target on October 15, 2026.

About Arcutis Biotherapeutics

Arcutis Biotherapeutics is a Westlake Village, California-based biopharmaceutical company focused on developing treatments for dermatological diseases. Its lead product is ZORYVE, a topical cream used for plaque psoriasis and atopic dermatitis. The company also develops foam treatments for seborrheic dermatitis and scalp psoriasis, alongside experimental pipeline therapies for immune-mediated skin conditions.

Bottom Line

Investors are keeping an eye on the company's upcoming earnings report on October 27, 2026. Further SEC filings will show whether other insiders continue trimming or holding their positions.