Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Arcutis Biotherapeutics Inc shares valued at $110,264 were sold by Topper David Joseph on Sep 24 ’24. At $9.48 per share, Topper David Joseph sold 11,626 shares. The insider’s holdings dropped to 158,374 shares worth approximately $1.45 million following the completion of this transaction.
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Also, Topper David Joseph purchased 11,626 shares, netting a total of over 110,264 in proceeds.
Before that, Welgus Howard G. had sold 10,000 shares from its account. In a trade valued at $107,695, the Director traded Arcutis Biotherapeutics Inc shares for $10.77 each. Upon closing the transaction, the insider’s holdings decreased to 10,000 shares, worth approximately $1.76 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 drop of approximately -9.66%. Over the course of the year, Arcutis Biotherapeutics Inc shares have jumped approximately 183.59%. 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 $9.81, while a 200-day SMA reached $8.38. Nevertheless, trading volume fell to 2.24 million shares from 1.65 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 8.96, which, if violated, would cause prices to drop to 8.75. In the upper region, resistance lies at 9.52. The next price resistance is at 9.88. RSI (Relative Strength Index) is 38.43 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.84, which suggests the price will decrease in the coming days. Percent R is at 93.52%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.