Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Arcutis Biotherapeutics Inc shares valued at $107,695 were sold by Welgus Howard G. on Sep 03 ’24. At $10.77 per share, Welgus Howard G. sold 10,000 shares. The insider’s holdings dropped to 191,944 shares worth approximately $2.02 million following the completion of this transaction.
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Also, Welgus Howard G. purchased 10,000 shares, netting a total of over 107,695 in proceeds.
Before that, Burnett Patrick had sold 1,728 shares from its account. In a trade valued at $14,318, the insider traded Arcutis Biotherapeutics Inc shares for $8.29 each. Upon closing the transaction, the insider’s holdings decreased to 1,728 shares, worth approximately $2.05 million.
As published in their initiating research note from Jefferies on August 28, 2024, Arcutis Biotherapeutics Inc [ARQT] has been a Buy and the price target has been revised to $15. Analysts at Mizuho upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in early January. As of October 26, 2023, Mizuho has decreased its “Buy” rating to a “Neutral” for ARQT. Earlier on October 13, 2023, Goldman downgraded its rating. Their new recommendation was “a Neutral” for ARQT stock which previously was a “a Buy”.
Analyzing ARQT Stock Performance
During the last five days, there has been a surge of approximately 0.57%. Over the course of the year, Arcutis Biotherapeutics Inc shares have jumped approximately 225.70%. 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 $9.87, while a 200-day SMA reached $7.94. Nevertheless, trading volume fell to 1.26 million shares from 1.55 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 10.32, which, if violated, would cause prices to drop to 10.12. In the upper region, resistance lies at 10.74. The next price resistance is at 10.96. RSI (Relative Strength Index) is 55.40 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.28, which suggests the price will decrease in the coming days. Percent R is at 26.21%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
