Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Arcutis Biotherapeutics Inc shares valued at $23,674 were sold by Burnett Patrick on Dec 31 ’24. At $14.00 per share, Burnett Patrick sold 1,691 shares. The insider’s holdings dropped to 126,978 shares worth approximately $1.77 million following the completion of this transaction.
Also, Burnett Patrick purchased 1,691 shares, netting a total of over 23,663 in proceeds.
Before that, Watanabe Todd Franklin had sold 15,000 shares from its account. In a trade valued at $227,566, the insider traded Arcutis Biotherapeutics Inc shares for $15.17 each. Upon closing the transaction, the insider’s holdings decreased to 15,000 shares, worth approximately $11.47 million.
As published in their initiating research note from H.C. Wainwright on December 30, 2024, Arcutis Biotherapeutics Inc [ARQT] has been a Buy and the price target has been revised to $19. Analysts at Jefferies started covering the stock with ‘”a Buy”‘ outlook in a report released in late August. As of January 03, 2024, Mizuho has increased its “Neutral” rating to a “Buy” for ARQT. Earlier on October 26, 2023, Mizuho 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 -6.95%. Over the course of the year, Arcutis Biotherapeutics Inc shares have jumped approximately 331.27%. Shares of the company reached a 52-week high of $15.79 on 12/20/24 and a 52-week low of $3.07 on 01/02/24. A 50-day SMA is recorded $11.31, while a 200-day SMA reached $9.96. Nevertheless, trading volume fell to 1.29 million shares from 1.59 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 13.65, which, if violated, would cause prices to drop to 13.38. In the upper region, resistance lies at 14.34. The next price resistance is at 14.76. RSI (Relative Strength Index) is 57.15 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.15, which suggests the price will decrease in the coming days. Percent R is at 50.00%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
