Insider Cluster (2 insiders) ·Filed Sep 17, 2026
Insider cluster: 2 insiders, $364K total
Actionable Insight • Neutral
Monitor next quarterly filing for any change in insider selling patterns or a material business catalyst that could explain the sales. No immediate read-through from this cluster.
Latest settled — T+20d ⚠ clustered
ARQT ▲ +13.55% at T+20d
NEUTRAL call +13.55% · α vs SPY +13.35% · entry $25.38 → $28.82
Latest observation: T+25 +21.83% FF3 residual α
T+1d
+2.29%
call +2.29% · α +0.73%
$25.96
settled 5w ago
T+5d
+6.07%
call +6.07% · α +4.80%
$26.92
settled 4w ago
T+20d
+13.55%
call +13.55% · α +13.35%
$28.82
settled 10d ago
T+60d
Pending
in 7w
Price Chart
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Executive Summary
Two insiders at Arcutis Biotherapeutics sold a combined $364K in open-market sales over a week. The sales are modest relative to the company's market cap and lack a clear pattern of informed selling, making this a routine event.
Key Financial Metrics
Direction
selling
Total Value
$364.0K
Insiders
2
Key Facts
- Total insider sales of $364K over 7 days
- Matsuda Masaru (See Remarks) sold 10,000 shares at $25.03 for $250K
- Welgus Howard G. (Director) sold 4,700 shares at $24.18 for $114K
- No open-market purchases in the cluster
- Sales are small relative to typical market cap for a biotech of this size
Financial Impact
Total sales of $364K represent a trivial fraction of market cap, likely under 0.1%
dilution
Risk Factors
- Insider sales could precede a negative catalyst, but the small size makes this unlikely
- No purchases to offset selling signal
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-ARQT-1789709605714 |
22 reports for ARQT
67% Hit rate @ T+20 Went positive at some point 2 of 3 best @ T+60▲ +14.74%
Filters
Rows
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 4d ago | Press Release | $32.20 | awaiting T+20 | — | $31.79 (−1.27%) |
Oct 5, 2026 21d ago | SC 13G/A | $25.15 | awaiting T+20 | — | $31.79 (+26.40%) |
Sep 29, 2026 27d ago | Press Release | $26.75 | awaiting T+20 | — | $31.79 (+18.84%) |
Sep 18, 2026 5w ago | Insider Cluster | $25.96 $31.89 | ▲ +22.84% | ▲ +23.75% | $31.79 (+22.46%) |
Sep 17, 2026 5w ago | Insider Cluster | $25.38 $28.82 | ▲ +13.55% | ▲ +13.35% | $31.79 (+25.26%) |
Aug 24, 2026 8w ago | Insider Cluster | $24.86 $26.38 | ▲ +6.11% | ▲ +5.87% | $31.79 (+27.88%) |
Aug 21, 2026 9w ago | Insider Cluster | $24.78 $27.78 | ▲ +12.11% | ▲ +10.81% | $31.79 (+28.29%) |
Aug 19, 2026 9w ago | Insider Cluster | $25.35 $25.38 | ▲ +0.12% | ▲ +0.12% | $31.79 (+25.40%) |
Aug 11, 2026 10w ago | 144 | $26.28 $23.38 | ▼ −11.04% | ▼ −9.14% | $31.79 (+20.97%) |
Aug 5, 2026 11w ago | Insider Cluster | $26.43 $23.66 | ▼ −10.48% | ▼ −11.08% | $31.79 (+20.28%) |
Showing 10 of 22
US Market Status
Market Open — Closes in 2m
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