Arcutis Biotherapeutics EVP, CMO Burnett sells $394,896 in stock By Investing.com

Patrick Burnett, Executive Vice President and Chief Medical Officer at Arcutis Biotherapeutics, Inc. (), sold shares totaling $394,896 across two transactions on August 11 and August 12, 2026. On August 11, Mr. Burnett sold 8,300 shares at a weighted average price of $26.5216, with prices ranging from $26.50 to $26.57. The following day, August 12, he sold an additional 6,700 shares at a weighted average price of $26.0847, with prices ranging from $26.00 to $26.19.

These sales followed Mr. Burnett’s acquisition of 15,000 shares of common stock through the exercise of stock options. The transactions come as Arcutis shares trade at $25.83, delivering a strong 61.64% return over the past year. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value assessment, with an InvestingPro Tip highlighting that the company is trading at a low P/E ratio relative to near-term earnings growth despite its impressive 91% gross profit margin. On August 11, 2026, he acquired 8,300 shares at an exercise price of $3.64 per share, and on August 12, 2026, he acquired another 6,700 shares at the same $3.64 per share exercise price. These option exercises represented a total value of $54,600.

The options exercised were part of a grant issued on January 12, 2024, with shares vesting monthly over four years, contingent on Mr. Burnett’s continued service to the company. Following these transactions, Mr. Burnett directly holds 119,289 shares of Arcutis Biotherapeutics common stock and 128,750 derivative securities in the form of stock options. For deeper insights into Arcutis’s financial health and growth prospects, investors can access the comprehensive Pro Research Report, available for this and 1,400+ other US equities on InvestingPro.

In other recent news, Arcutis Biotherapeutics reported significant financial results for the second quarter of 2026. The company announced that its net product revenue reached $129.9 million, surpassing market forecasts of $118.47 million. This represents a 59% increase year-over-year and a 23% rise from the previous quarter. The strong performance was largely driven by increased demand for its products and improved gross-to-net pricing. Following these results, Guggenheim raised its price target for Arcutis Biotherapeutics from $35 to $38, maintaining a Buy rating. Guggenheim’s decision was influenced by the robust sales of Zoryve, which exceeded both their own and consensus estimates. These developments mark a move into profitability for the company, highlighting its strong financial trajectory.

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