On the 2nd of October, Orbimed Advisors bought 496 thousand Arcutis Biotherapeutics, Inc. (NASDAQ:) shares for $12 million at an average price of $25.00 per share.
Shares of Arcutis Biotherapeutics, Inc. are up 1.46% since the transaction.
Orbimed Advisors’s holding in Arcutis Biotherapeutics, Inc. increased to about 902 thousand shares with the purchase.
Orbimed Advisors first bought Arcutis Biotherapeutics, Inc. stock in the first quarter of 2020.
Orbimed Advisors also owns Alexion Pharmaceuticals Inc (NASDAQ:), Biogen Inc (NASDAQ:), Neurocrine Biosciences Inc (NASDAQ:) and ORIC Pharmaceuticals, Inc. (ORIC).
Arcutis Biotherapeutics, Inc. is its number twenty one position by number of shares and market value among pharmaceuticals stocks.
Other investors who also added to their Arcutis Biotherapeutics, Inc. shares include Millennium Management, the T. Rowe Price Equity Income Fund, and Polar Capital.
Contrary to Orbimed Advisors, California State Teachers Retirement System reduced ARQT shares, while Victory Capital Management sold all their ARQT shares.
Orbimed Advisors has also recently reduced their share in ESSA Pharma Inc . (NASDAQ:) and 89bio, Inc. (NASDAQ:).
The total value of the shares sold is estimated at around $54 million.
Orbimed Advisors also reduced their share in Alector, Inc. (NASDAQ:).
The total value of the shares sold is estimated at around $105 million.
Additionally, Orbimed Advisors established new holdings in Fusion Pharmaceuticals Inc. (FUSN).
Orbimed Advisors also increased their share in Alpine Immune Sciences, Inc. (NASDAQ:), Adicet Bio, Inc. (ACET) and TELA Bio, Inc. (NASDAQ:).
The total value of the shares bought is estimated at around $131 million.
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