Summary by Moomoo AI
BlackRock, Inc., a major investment management corporation based in Delaware, has filed an amended Schedule 13G with the Securities and Exchange Commission on October 22, 2024, indicating a 7.7% ownership stake in Arcutis Biotherapeutics, a biopharmaceutical company. The filing, which is a standard disclosure for entities owning more than 5% of a company's stock, shows that BlackRock has sole dispositive power over 9,029,624 shares of Arcutis Biotherapeutics' common stock. The document clarifies that the shares were acquired in the ordinary course of business and not for the purpose of changing or influencing the control of the issuer. The address of BlackRock's principal business office is listed as 50 Hudson Yards, New York, NY 10001. The filing includes a list of subsidiaries under BlackRock, Inc. and a power of attorney granting authority to certain individuals to execute documents necessary for compliance with regulatory requirements.
