ARCUTIS BIOTHERAPEUTICS INC ARQT
COM · Common Stock · CUSIP 03969K108
- SectorHealth care
- IndustryPharmaceutical Preparations
- HeadquartersWestlake Village, CA
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($2.7m this quarter). Holder counts are more reliable. Shares outstanding: 60.9m as of 2022-11-04, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $14.82. Options: 9 managers hold calls ($11.2m notional), 2 hold puts ($134.7k).
Trends to Q4 2022
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 140 |
| Q4 2022 | 143 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2022 | $5.9m | $349.0k | 0.06 |
| Q4 2022 | $11.2m | $134.7k | 0.01 |
Biggest buyers
| Rubric Capital Management LP | Added | +2.3m |
| STATE STREET CORP | Added | +1.0m |
| Holocene Advisors, LP | Added | +1.0m |
| Avidity Partners Management LP | Added | +960.5k |
| Polar Capital Holdings Plc | Added | +696.5k |
| GW&K Investment Management, LLC | Added | +643.1k |
| MILLENNIUM MANAGEMENT LLC | Added | +578.5k |
| Allspring Global Investments Holdings, LLC | Added | +338.5k |
| VANGUARD GROUP INC | Added | +278.5k |
| WESTFIELD CAPITAL MANAGEMENT CO LP | Added | +210.6k |
Biggest sellers
| Point72 Asset Management, L.P. | Reduced | -2.7m |
| Nuveen Asset Management, LLC | Reduced | -428.1k |
| Cormorant Asset Management, LP | Reduced | -350.0k |
| ORBIMED ADVISORS LLC | Reduced | -339.9k |
| AXA S.A. | Reduced | -339.4k |
| Sofinnova Investments, Inc. | Sold out | -274.3k |
| SEI INVESTMENTS CO | Sold out | -172.8k |
| MARSHALL WACE, LLP | Sold out | -167.8k |
| PRICE T ROWE ASSOCIATES INC /MD/ | Reduced | -160.0k |
| Logos Global Management LP | Reduced | -125.0k |
Biggest calls
| Caption Management, LLC | Added | $4.1m276.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $2.6m173.0k shares |
| GROUP ONE TRADING LLC | Added | $1.7m111.5k shares |
| Parallax Volatility Advisers, L.P. | New | $1.5m102.8k shares |
| SIMPLEX TRADING, LLC | New | $740.0k50.0k shares |
| NOMURA HOLDINGS INC | Reduced | $492.0k33.6k shares |
| CITADEL ADVISORS LLC | New | $188.0k12.7k shares |
| Cutler Group LLC / CA | New | $8.0k20.0k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Biggest puts
| CITADEL ADVISORS LLC | New | $134.7k9.1k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| BlackRock, Inc. 13G · institution filed 2026-10-05 | 14.1% |
Frazier Life Sciences VIII, L.P.
13D · may seek influence
filed 2025-08-20
Stated purposeFLS VIII, FHM Life Sciences VIII, L.L.C, FLS X, FLSPF, FLSPOF, FLS XI and FLS XII each acquired the FLS VIII Shares (as defined below), the FHM Life Sciences VIII, L.L.C. Shares (as defined below), the FLS X Shares (as defined below), the FLSPF Shares (as defined below), the FLSPOF Shares (as defined below), the FLS XI Shares (as defined below) and the FLS XII Shares (as defined below), as the case me be, for investment purposes. Depending on market conditions, its continuing evaluation of the business and prospects of the Issuer and other factors, FLS VIII, FHM Life Sciences VIII, L.L.C, FLS X, FLSPF, FLSPOF, FLS XI and FLS XII and other Reporting Persons may dispose of or acquire additional shares of the Issuer. Except as set forth above, none of the Reporting Persons has any present pla… Full filing |
7.5% |
| Rubric Capital Management LP 13G · institution filed 2026-02-13 | 6.8% |
| Polar Capital Holdings Plc 13G · institution +1.1 pts · filed 2026-08-14 | 5.3% |
Fell to 5% or below in the last year: STATE STREET CORP (4.7%, 2026-08-07), PRUDENTIAL FINANCIAL INC (4.3%, 2026-05-08), JENNISON ASSOCIATES LLC (4.0%, 2026-05-06), VANGUARD GROUP INC (0.0%, 2026-03-26)
Insider purchases and sales in Q4 2022
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q1 2021 | 0 | — | 0 | — | — |
| Q2 2021 | 0 | — | 0 | — | — |
| Q3 2021 | 0 | — | 0 | — | — |
| Q4 2021 | 0 | — | 3 | $555.0k | — |
| Q1 2022 | 0 | — | 7 | $297.7k | — |
| Q2 2022 | 0 | — | 4 | $397.3k | — |
| Q3 2022 | 1 | $5.0m | 3 | $798.9k | — |
| Q4 2022 | 0 | — | 3 | $275.7k | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2022-12-07 | Watanabe Todd Franklin Officer, director | Sold | $17.1k1.0k shares |
| 2022-11-21 | Matsuda Masaru Officer | Sold | $31.3k1.7k shares |
| 2022-11-15 | Welgus Howard G. Director | Sold | $68.1k3.4k shares |
| 2022-11-07 | Watanabe Todd Franklin Officer, director | Sold | $18.0k1.0k shares |
| 2022-10-07 | Watanabe Todd Franklin President and CEO, director | Sold | $19.5k1.0k shares |
| 2022-10-04 | Welgus Howard G. Director | Sold | $121.7k6.0k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q4 2022
| Manager | Shares | Change |
|---|---|---|
| FMR LLC 0.01% of their portfolio | 9.1m $135.3m | Added +209.9k |
| Frazier Life Sciences Management, L.P. 7.99% of their portfolio | 8.7m $128.5m | Unchanged |
| BlackRock Inc. 0.00% of their portfolio | 5.2m $77.2m | Added +132.5k |
| STATE STREET CORP 0.00% of their portfolio | 3.7m $54.5m | Added +1.0m |
| Bain Capital Life Sciences Investors, LLC 4.96% of their portfolio | 3.0m $44.4m | Unchanged |
| Rubric Capital Management LP 1.78% of their portfolio | 2.7m $40.6m | Added +2.3m |
| VANGUARD GROUP INC 0.00% of their portfolio | 2.5m $37.5m | Added +278.5k |
| ORBIMED ADVISORS LLC 0.70% of their portfolio | 2.5m $36.4m | Reduced -339.9k |
| Polar Capital Holdings Plc 0.24% of their portfolio | 2.0m $29.7m | Added +696.5k |
| Avidity Partners Management LP 0.61% of their portfolio | 1.8m $26.0m | Added +960.5k |
| PICTET ASSET MANAGEMENT SA 0.03% of their portfolio | 1.6m $24.3m | Added +36.1k |
| GW&K Investment Management, LLC 0.23% of their portfolio | 1.6m $23.0m | Added +643.1k |
| Logos Global Management LP 2.43% of their portfolio | 1.4m $20.7m | Reduced -125.0k |
| JENNISON ASSOCIATES LLC 0.02% of their portfolio | 1.4m $20.7m | Added +8.7k |
| BARCLAYS PLC 0.02% of their portfolio | 1.2m $17.5m | First filing |
| Holocene Advisors, LP 0.10% of their portfolio | 1.1m $16.9m | Added +1.0m |
| Point72 Asset Management, L.P. 0.06% of their portfolio | 1.1m $16.3m | Reduced -2.7m |
| Allspring Global Investments Holdings, LLC 0.03% of their portfolio | 1.1m $15.8m | Added +338.5k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 813.6k $12.0m | Added +158.9k |
| FRANKLIN RESOURCES INC 0.01% of their portfolio | 797.7k $11.8m | Reduced -1.3k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 779.1k $11.5m | Added +44.9k |
| WESTFIELD CAPITAL MANAGEMENT CO LP 0.08% of their portfolio | 680.4k $10.1m | Added +210.6k |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 664.4k $9.8m | Added +578.5k |
| Cormorant Asset Management, LP 0.65% of their portfolio | 650.0k $9.6m | Reduced -350.0k |
| Woodline Partners LP 0.13% of their portfolio | 644.9k $9.5m | Added +94.5k |
| AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio | 580.9k $8.6m | Reduced -2.0k |
| Pivotal bioVenture Partners Investment Advisor LLC 3.66% of their portfolio | 569.0k $8.4m | Unchanged |
| Saturn V Capital Management LP 7.29% of their portfolio | 487.2k $8.8m | First filing |
| Ensign Peak Advisors, Inc 0.02% of their portfolio | 484.6k $7.2m | Reduced -4.8k |
| EcoR1 Capital, LLC 0.19% of their portfolio | 415.3k $6.1m | Unchanged |
| NORTHERN TRUST CORP 0.00% of their portfolio | 384.9k $5.7m | Added +11.2k |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 370.5k $5.5m | Added +56.5k |
| AXA S.A. 0.02% of their portfolio | 335.8k $5.0m | Reduced -339.4k |
| Rafferty Asset Management, LLC 0.04% of their portfolio | 303.1k $4.5m | Added +129.1k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 301.7k $4.5m | Added +10.6k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 279.7k $4.1m | Added +96.4k |
| MPM BIOIMPACT LLC 1.01% of their portfolio | 262.1k $3.9m | Added +4.9k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 239.0k $3.5m | Added +87.8k |
| SECTORAL ASSET MANAGEMENT INC 0.58% of their portfolio | 203.9k $3.0m | Reduced -17.1k |
| MORGAN STANLEY 0.00% of their portfolio | 198.1k $2.9m | Added +73.1k |
| UBS Group AG 0.00% of their portfolio | 193.3k $2.9m | Added +169.7k |
| JACOBS LEVY EQUITY MANAGEMENT, INC 0.02% of their portfolio | 190.8k $2.8m | Reduced -41.4k |
| 1492 Capital Management LLC 1.67% of their portfolio | 174.5k $2.6m | Reduced -3.8k |
| NEUBERGER BERMAN GROUP LLC 0.00% of their portfolio | 166.4k $2.5m | Added +34.4k |
| Tekla Capital Management LLC 0.08% of their portfolio | 148.9k $2.2m | Unchanged |
| TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio | 145.3k $2.2m | Added +82.5k |
| TWO SIGMA ADVISERS, LP 0.01% of their portfolio | 135.6k $2.0m | Added +64.4k |
| CITIGROUP INC 0.00% of their portfolio | 133.2k $2.0m | Reduced -27.3k |
| Hennion & Walsh Asset Management, Inc. 0.12% of their portfolio | 132.8k $2.0m | Added +42.5k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 131.4k $1.9m | Added +6.8k |
| HSBC HOLDINGS PLC 0.00% of their portfolio | 125.8k $1.9m | Reduced -4.9k |
| Connor, Clark & Lunn Investment Management Ltd. 0.01% of their portfolio | 110.7k $1.6m | New |
| Nuveen Asset Management, LLC 0.00% of their portfolio | 104.8k $1.6m | Reduced -428.1k |
| Swiss National Bank 0.00% of their portfolio | 101.7k $1.5m | Added +3.9k |
| PRUDENTIAL FINANCIAL INC 0.00% of their portfolio | 96.9k $1.4m | Added +30.0k |
| Cubist Systematic Strategies, LLC 0.01% of their portfolio | 84.0k $1.2m | Added +83.0k |
| NORGES BANK 0.00% of their portfolio | 81.0k $1.2m | Unchanged |
| AlphaCentric Advisors LLC 1.15% of their portfolio | 78.5k $1.2m | New |
| ExodusPoint Capital Management, LP 0.02% of their portfolio | 66.0k $977.0k | Added +18.9k |
| Parallax Volatility Advisers, L.P. 0.02% of their portfolio | 63.2k $935.0k | New |
| Qube Research & Technologies Ltd 0.01% of their portfolio | 58.3k $862.6k | New |
| Tejara Capital Ltd 0.50% of their portfolio | 58.0k $858.4k | First filing |
| PDT Partners, LLC 0.14% of their portfolio | 57.9k $856.6k | Added +45.2k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 53.4k $790.0k | Added +8.7k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 53.2k $786.9k | Added +1.5k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 44.6k $660.0k | Added +1.1k |
| FISHMAN JAY A LTD/MI 0.09% of their portfolio | 43.8k $648.2k | Reduced -3.0k |
| MARTINGALE ASSET MANAGEMENT L P 0.01% of their portfolio | 43.2k $639.4k | Added +16.1k |
| ALPS ADVISORS INC 0.01% of their portfolio | 41.3k $611.9k | Added +8.5k |
| Jump Financial, LLC 0.03% of their portfolio | 40.4k $597.6k | New |
| STATE OF WISCONSIN INVESTMENT BOARD 0.00% of their portfolio | 39.7k $586.9k | Reduced -2.4k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 38.5k $569.8k | Added +10.2k |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 37.2k $550.2k | Reduced -37.2k |
| Squarepoint Ops LLC 0.00% of their portfolio | 36.2k $536.2k | Added +20.9k |
| CREDIT SUISSE AG/ 0.00% of their portfolio | 35.5k $525.2k | Added +633 |
| VOYA INVESTMENT MANAGEMENT LLC 0.00% of their portfolio | 35.4k $523.5k | Unchanged |
| Ergoteles LLC 0.02% of their portfolio | 34.7k $513.0k | New |
| Thrivent Financial for Lutherans 0.00% of their portfolio | 33.9k $502.0k | Unchanged |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 33.7k $499.0k | Added +14.6k |
| DekaBank Deutsche Girozentrale 0.00% of their portfolio | 30.0k $438.0k | Unchanged |
| NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio | 30.0k $443.3k | Added +5.4k |
| Schonfeld Strategic Advisors LLC 0.00% of their portfolio | 28.1k $415.9k | New |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 25.2k $372.5k | Added +7.0k |
| Blackstone Inc. 0.00% of their portfolio | 24.1k $357.3k | Unchanged |
| FEDERATED HERMES, INC. 0.00% of their portfolio | 24.0k $355.2k | Not comparable |
| LMR Partners LLP 0.01% of their portfolio | 23.1k $342.5k | Unchanged |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 22.3k $330.1k | Reduced -38.2k |
| MetLife Investment Management, LLC 0.00% of their portfolio | 21.7k $321.9k | Unchanged |
| Mirae Asset Global Investments Co., Ltd. 0.00% of their portfolio | 20.5k $303.0k | Added +4.4k |
| Vontobel Holding Ltd. 0.00% of their portfolio | 20.4k $286.6k | Added +9.9k |
| AMERICAN INTERNATIONAL GROUP, INC. 0.00% of their portfolio | 19.6k $290.6k | Added +233 |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 19.2k $285.0k | Reduced -160.0k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 17.1k $252.6k | Added +2.8k |
| Invesco Ltd. 0.00% of their portfolio | 16.8k $249.2k | Reduced -1.8k |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 16.0k $236.4k | Added +2.8k |
| Legal & General Group Plc 0.00% of their portfolio | 15.9k $235.9k | Added +723 |
| E Fund Management Co., Ltd. 0.02% of their portfolio | 15.9k $235.0k | Added +3.9k |
| Quantbot Technologies LP 0.02% of their portfolio | 14.5k $214.6k | New |
| PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio | 14.4k $212.6k | Added +2.7k |
| PNC Financial Services Group, Inc. 0.00% of their portfolio | 14.0k $206.9k | Added +4.4k |