Arcutis Biotherapeutics Inc (NASDAQ:ARQT) shares, rose in value, with the stock price down by -1.83% to the previous day’s close as strong demand from buyers drove the stock to $8.59.
Actively observing the price movement in the last trading, the stock closed the session at $8.75. Referring to stock’s 52-week performance, its high was $15.21, and the low was $1.76. On the whole, ARQT has fluctuated by -7.34% over the past month.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 116.1M, with a low estimate of 13.2M and a high estimate of 17M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 14.74M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that ARQT’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium-term indicators have put the stock in the category of 50% Buy while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of ARQT currently trading nearly -16.26% and -14.71% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 37.41, while the 7-day volatility ratio is showing 7.01% which for the 30-day chart, stands at 8.05%. Furthermore, Arcutis Biotherapeutics Inc (ARQT)’s beta value is 1.17, and its average true range (ATR) is 0.81.
A comparison of Arcutis Biotherapeutics Inc (ARQT) with its peers suggests the former has fared considerably weaker in the market. ARQT showed an intraday change of -1.83% in last session, and over the past year, it shrunk by -35.75%%.
Data on historical trading for Arcutis Biotherapeutics Inc (NASDAQ:ARQT) indicates that the trading volumes over the past 3 months, they’ve averaged 4.43 million. According to company’s latest data on outstanding shares, there are 114.97 million shares outstanding.
Nearly 15.40% of Arcutis Biotherapeutics Inc’s shares belong to company insiders and institutional investors own 84.57% of the company’s shares. The stock has risen by 165.94% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the ARQT stock heading into the next quarter.
