The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Arcutis Biotherapeutics Inc shares valued at $7,767 were purchased by Edwards Larry Todd on Nov 30 ’24. At $7.11 per share, Edwards Larry Todd acquired 1,093 shares. The insider’s holdings grew to 137,728 shares worth approximately $1.76 million following the completion of this transaction.
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Also, Matsuda Masaru purchased 1,657 shares, netting a total of over 11,775 in proceeds. Following the buying of shares at $7.11 each, the insider now holds 187,030 shares.
Before that, Matsuda Masaru had added 4,000 shares to its account. In a trade valued at $6,768, the insider bought Arcutis Biotherapeutics Inc shares for $1.69 each. Upon closing the transaction, the insider’s holdings increased to 4,000 shares, worth approximately $2.37 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 1.27%. Over the course of the year, Arcutis Biotherapeutics Inc shares have jumped approximately 295.36%. Shares of the company reached a 52-week high of $13.50 on 11/29/24 and a 52-week low of $3.07 on 01/02/24. A 50-day SMA is recorded $10.17, while a 200-day SMA reached $9.74. Nevertheless, trading volume fell to 1.7 million shares from 2.23 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 12.22, which, if violated, would cause prices to drop to 11.68. In the upper region, resistance lies at 13.40. The next price resistance is at 14.02. RSI (Relative Strength Index) is 65.23 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 21.04%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
