Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Arcutis Biotherapeutics Inc shares valued at $120,433 were sold by Watanabe Todd Franklin on May 02 ’24. At $8.74 per share, Watanabe Todd Franklin sold 13,783 shares. The insider’s holdings dropped to 860,750 shares worth approximately $6.88 million following the completion of this transaction.
Also, Burnett Patrick sold 9,555 shares, netting a total of over 83,490 in proceeds. Following the sale of shares at $8.74 each, the insider now holds 259,745 shares.
Before that, Matsuda Masaru had sold 5,016 shares from its account. In a trade valued at $43,829, the insider traded Arcutis Biotherapeutics Inc shares for $8.74 each. Upon closing the transaction, the insider’s holdings decreased to 5,016 shares, worth approximately $1.48 million.
As published in a research note from Mizuho on January 03, 2024, Arcutis Biotherapeutics Inc [ARQT] has been rated up from a Neutral to a Buy and the price target has been revised to $8 from $4. Analysts at Mizuho downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in late October. As of October 13, 2023, Goldman has decreased its “Buy” rating to a “Neutral” for ARQT. Earlier on September 07, 2022, Needham initiated its rating. Their recommendation was “a Buy” for ARQT stock.
Analyzing ARQT Stock Performance
During the last five days, there has been a drop of approximately -9.62%. Over the course of the year, Arcutis Biotherapeutics Inc shares have jumped approximately 147.37%. Shares of the company reached a 52-week high of $13.17 on 04/09/24 and a 52-week low of $3.07 on 01/02/24. A 50-day SMA is recorded $9.94, while a 200-day SMA reached $6.42. Nevertheless, trading volume fell to 2.33 million shares from 3.38 million shares the previous day.
Support And Resistance Levels for Arcutis Biotherapeutics Inc (ARQT)
According to the 24-hour chart, there is a support level at 7.73, which, if violated, would cause prices to drop to 7.48. In the upper region, resistance lies at 8.16. The next price resistance is at 8.34. RSI (Relative Strength Index) is 37.12 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.56, which suggests the price will decrease in the coming days. Percent R is at 73.80%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
