Arcutis Biotherapeutics shares are trading higher after Steven Cohen reported a 5.2% passive stake in the company in a 13G filing.
Portfolio Pulse from Benzinga Newsdesk
Arcutis Biotherapeutics' stock price increased following the news that Steven Cohen reported a 5.2% passive stake in the company, as disclosed in a 13G filing.
February 01, 2024 | 7:09 pm
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Arcutis Biotherapeutics' shares rose after Steven Cohen, a notable investor, reported a 5.2% passive stake in the company.
The announcement of a significant investment by a high-profile investor like Steven Cohen can lead to increased investor confidence and demand for the stock, potentially driving up its price in the short term.
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IMPORTANCE 80
RELEVANCE 90