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 November 8, 2024, indicating a significant ownership stake in Arcutis Biotherapeutics, Inc. The filing reveals that BlackRock now beneficially owns 9,029,624 shares of Arcutis Biotherapeutics' common stock, which represents 7.7% of the company's class of securities. This position gives BlackRock sole voting power over 8,893,485 shares and sole dispositive power over the entire 9,029,624 shares held. The filing, which is required due to the change in ownership percentage, indicates that BlackRock's investment is held in the ordinary course of business and not with the purpose of changing or influencing the control of Arcutis Biotherapeutics.
