13FPulse
AR

ARQT ARCUTIS BIOTHERAPEUTICS INC

2026Q2 · CUSIP 03969K108 · Sector: Healthcare & Biotech

Normal

Fund flows are within the usual range

Funds that own it
270
Institutions that reported holding it to the SEC
Net increase in holders
+4
Last quarter 266 → now 270
How unusual is that
Above average
Stronger buying than 52% of US stocks
What the filings say, in one paragraph

270 funds held ARQT at the end of 2026Q2, up 4 from the quarter before. Fund flows are within the usual range — nothing unusual. On the business itself, revenue over the last 12 months was $464M(YoY +76.1%), the P/E is 108.0x, return on equity is 12.9%. ARQT has had 6 buying rushes in its history, and the price moved +16.1% on average over the six months after (that is the raw price move, not how much it beat the market by). It sits in the Healthcare & Biotech sector.

How many funds owned it, quarter by quarter

Bars = net change in institutional holders, positive (green) or negative (red). Line = total institutional holders.

2020Q2: holders=56 2020Q3: holders=62 2020Q4: holders=77 2021Q1: holders=94 2021Q2: holders=101 2021Q3: holders=102 2021Q4: holders=91 2022Q1: holders=106 2022Q2: holders=111 2022Q3: holders=137 2022Q4: holders=140 2023Q1: holders=142 2023Q2: holders=135 2023Q3: holders=132 2023Q4: holders=133 2024Q1: holders=166 2024Q2: holders=184 2024Q3: holders=186 2024Q4: holders=206 2025Q1: holders=236 2025Q2: holders=226 2025Q3: holders=237 2025Q4: holders=280 2026Q1: holders=266 2026Q2: holders=270 -43 -21.5 +0 +21.5 +43 50172294 20Q221Q121Q422Q323Q224Q124Q425Q326Q2 Net change in holders (bars) Total funds holding (line)

What happened after each past buying rush 6 times in its history

Quarter of the rush How unusual then Price, next 3 months Price, next 6 months
2025Q4 Top 20% -26.8%
2025Q1 Top 10% +7.7% +78.8%
2024Q2 Top 20% +17.0% +53.0%
2024Q1 Top 10% -6.0% +0.7%
2022Q3 Top 5% -11.8% -50.8%
2022Q1 Top 20% +33.3% -1.4%

These are the raw price moves, not how much it beat the market by. Compare them against the market over the same months — in a strong bull market almost everything is up.

Show all the numbers (large funds, value held, options…) ▾
Of them, large funds
158
Change in large funds
+15
Total value they hold
$3.4B
Funds buying for the first time
44
Funds that sold out entirely
40
Price change that quarter
+18.6%
Funds holding puts (bearish)
3
Funds holding calls (bullish)
4

These are for people who want to dig. Skip them if they do not mean anything to you — the three numbers above are enough.

8,697 institutions have filed for this quarter. 13F permits late filing and a small number arrive in the weeks after the deadline, so the holder counts and changes below may tick up.

Fundamentals

PE (TTM)
108.0
EPS (TTM)
$0.22
EPS YoY
Revenue (TTM)
$0.5B
Revenue YoY
+76.1%
Net margin
6.2%
ROE
12.9%
Debt ratio
54.9%
FCF (TTM)
$39M
Dividend (TTM)
No dividend
Quarterly Revenue & EPS
2024-03-31: EPS -0.32 2024-06-30: EPS -0.42 2024-09-30: EPS -0.33 2024-12-31: EPS -0.09 2025-03-31: EPS -0.20 2025-06-30: EPS -0.13 2025-09-30: EPS 0.06 2025-12-31: EPS 0.14 2026-03-31: EPS -0.09 2026-06-30: EPS 0.11 0M 65M 130M $M -0.46 -0.15 0.15 2022202320242025202606/26 Revenue EPS

Quarterly figures, revenue up to 10 years back; EPS split-adjusted, early quarters hidden when not calibrable

P/E (TTM) over time
107 116 125 2026

P/E = close around day 47 after quarter-end ÷ TTM EPS then; this is a consistent valuation date, not the company’s actual filing date; loss quarters hidden

Quarterly free cash flow
-80M-27M26M 20192020202120222023202420252026
Latest quarter $2M (2026-03-31)

FCF = operating cash flow − capex, computed from SEC XBRL; banks/insurers have no standard cash-flow structure and are hidden

As of 2026-06-30 · SEC filings (XBRL)

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2026 Q3 holdings are due 2026-11-16. We will email you when the refreshed lists are live.