ARQT Insider Trading

Insider Ownership Percentage: 9.50%
Insider Buying (Last 12 Months): $200,000.00
Insider Selling (Last 12 Months): $440,413.85

Arcutis Biotherapeutics Insider Trading History Chart

This chart shows the insider buying and selling history at Arcutis Biotherapeutics by year and by quarter.

Skip ChartChart Data in Insider Trading History Table

Arcutis Biotherapeutics Share Price & Price History

Current Price: $9.75
Price Change: Price Decrease of -0.02 (-0.20%)
As of 07/19/2024 01:00 AM ET

This chart shows the closing price history over time for ARQT up to the past year.

Skip Chart and Table DataPrice Data in Insider Trading History Table
Days: 30 | 90 | 365

Arcutis Biotherapeutics Insider Trading History

Transaction DateInsider NameTitleBuy/SellNumber of SharesAverage Share PriceTotal TransactionShares Held After TransactionDetails
7/1/2024Howard G. WelgusDirectorSell10,000$9.31$93,100.00180,339View SEC Filing Icon  
5/30/2024Patrick BurnettInsiderSell23,000$8.75$201,250.00209,793View SEC Filing Icon  
5/28/2024Masaru MatsudaInsiderSell1,775$9.01$15,992.75188,508View SEC Filing Icon  
5/17/2024Larry Todd EdwardsSVPSell7,640$8.98$68,607.20140,360View SEC Filing Icon  
3/4/2024Masaru MatsudaInsiderSell3,760$11.12$41,811.20190,424View SEC Filing Icon  
1/2/2024Patrick BurnettInsiderSell1,325$3.54$4,690.5057,032View SEC Filing Icon  
11/21/2023Masaru MatsudaInsiderSell1,850$1.98$3,663.0046,634View SEC Filing Icon  
10/24/2023Life Sciences Viii L FrazierMajor ShareholderBuy80,000$2.50$200,000.008,764,232View SEC Filing Icon  
8/21/2023Patrick BurnettInsiderSell1,605$7.04$11,299.2058,357View SEC Filing Icon  
5/31/2023Masaru MatsudaInsiderSell1,830$7.80$14,274.0042,146View SEC Filing Icon  
4/17/2023Howard G. WelgusDirectorSell8,500$13.97$118,745.00165,825View SEC Filing Icon  
4/6/2023Howard G. WelgusDirectorSell8,500$12.01$102,085.00165,825View SEC Filing Icon  
3/6/2023Patricia A. TurneySVPSell831$15.26$12,681.0662,862View SEC Filing Icon  
3/6/2023Scott L. BurrowsCFOSell291$15.26$4,440.6659,115View SEC Filing Icon  
3/6/2023Todd Franklin WatanabeInsiderSell2,435$15.26$37,158.10366,657View SEC Filing Icon  
3/2/2023Patricia A. TurneySVPSell1,432$15.83$22,668.5645,693View SEC Filing Icon  
3/2/2023Scott L. BurrowsCFOSell1,434$15.83$22,700.2238,406View SEC Filing Icon  
3/2/2023Todd Franklin WatanabeInsiderSell5,472$15.83$86,621.76369,092View SEC Filing Icon  
2/28/2023Patricia A. TurneySVPSell936$16.17$15,135.1247,125View SEC Filing Icon  
2/28/2023Scott L. BurrowsCFOSell416$16.17$6,726.7239,840View SEC Filing Icon  
2/28/2023Todd Franklin WatanabeInsiderSell2,343$16.17$37,886.31374,564View SEC Filing Icon  
2/15/2023Howard G. WelgusDirectorSell8,500$16.98$144,330.00165,825View SEC Filing Icon  
2/13/2023Todd Franklin WatanabeInsiderSell483$17.00$8,211.00377,424View SEC Filing Icon  
1/17/2023Howard G. WelgusDirectorSell8,500$13.72$116,620.00165,825View SEC Filing Icon  
1/3/2023Patrick BurnettInsiderSell1,475$15.01$22,139.7541,564View SEC Filing Icon  
12/7/2022Todd Franklin WatanabeInsiderSell1,000$17.06$17,060.00378,907View SEC Filing Icon  
11/21/2022Masaru MatsudaInsiderSell1,720$18.19$31,286.8019,535View SEC Filing Icon  
11/7/2022Todd Franklin WatanabeInsiderSell1,000$18.00$18,000.00379,907View SEC Filing Icon  
10/7/2022Todd Franklin WatanabeCEOSell1,000$19.51$19,510.00380,907View SEC Filing Icon  
10/4/2022Howard G. WelgusDirectorSell6,000$20.29$121,740.00168,208View SEC Filing Icon  
9/7/2022Todd Franklin WatanabeCEOSell1,000$21.51$21,510.00381,907View SEC Filing Icon  
8/15/2022Howard G. WelgusDirectorSell6,000$24.80$148,800.00174,208View SEC Filing Icon  
7/18/2022Howard G. WelgusDirectorSell6,000$24.40$146,400.00180,208View SEC Filing Icon  
7/8/2022David W OsborneInsiderSell2,197$25.41$55,825.77256,649View SEC Filing Icon  
7/8/2022Todd Franklin WatanabeCEOSell13,500$25.37$342,495.00651,871View SEC Filing Icon  
7/6/2022Todd Franklin WatanabeCEOSell1,000$22.07$22,070.00658,284View SEC Filing Icon  
6/24/2022Orbimed Advisors LlcMajor ShareholderSell341,971$21.31$7,287,402.01415,142View SEC Filing Icon  
6/2/2022Masaru MatsudaSVPSell1,795$19.73$35,415.3516,380View SEC Filing Icon  
6/1/2022Howard G. WelgusDirectorSell2,500$20.62$51,550.00181,896View SEC Filing Icon  
5/5/2022Todd Franklin WatanabeCEOSell1,000$21.76$21,760.00658,667View SEC Filing Icon  
5/2/2022Howard G. WelgusDirectorSell2,500$20.44$51,100.00181,896View SEC Filing Icon  
4/21/2022David W OsborneInsiderSell2,197$20.42$44,862.74257,229View SEC Filing Icon  
4/8/2022Orbimed Advisors LlcMajor ShareholderSell200,000$20.71$4,142,000.00View SEC Filing Icon  
4/6/2022Orbimed Advisors LlcMajor ShareholderSell333,204$20.69$6,893,990.76View SEC Filing Icon  
4/5/2022Todd Franklin WatanabeCEOSell1,000$21.43$21,430.00659,667View SEC Filing Icon  
4/1/2022Howard G. WelgusDirectorSell7,500$20.02$150,150.00View SEC Filing Icon  
3/9/2022Todd Franklin WatanabeCEOSell300$17.00$5,100.00View SEC Filing Icon  
3/7/2022Patrick BurnettInsiderSell30$16.44$493.20View SEC Filing Icon  
3/7/2022Scott L. BurrowsCFOSell10$16.44$164.40View SEC Filing Icon  
3/7/2022Todd Franklin WatanabeCEOSell770$17.05$13,128.50View SEC Filing Icon  
3/4/2022Patricia A. TurneySVPSell993$16.86$16,741.98View SEC Filing Icon  
3/4/2022Patrick BurnettInsiderSell981$16.86$16,539.66View SEC Filing Icon  
3/4/2022Scott L. BurrowsCFOSell293$16.86$4,939.98View SEC Filing Icon  
3/4/2022Todd Franklin WatanabeCEOSell2,489$16.86$41,964.54View SEC Filing Icon  
2/9/2022Todd Franklin WatanabeCEOSell1,000$17.00$17,000.00View SEC Filing Icon  
1/5/2022Todd Franklin WatanabeCEOSell1,000$21.59$21,590.00View SEC Filing Icon  
1/3/2022Howard G. WelgusDirectorSell2,500$21.21$53,025.00View SEC Filing Icon  
12/27/2021Scott L. BurrowsCFOSell12,560$20.07$252,079.20View SEC Filing Icon  
12/23/2021Howard G. WelgusDirectorSell2,500$20.16$50,400.00View SEC Filing Icon  
12/8/2021Todd Franklin WatanabeCEOSell1,000$17.00$17,000.00View SEC Filing Icon  
11/5/2021Todd Franklin WatanabeCEOSell1,000$21.50$21,500.00View SEC Filing Icon  
11/1/2021Howard G. WelgusDirectorSell2,500$21.81$54,525.00View SEC Filing Icon  
10/5/2021Todd Franklin WatanabeCEOSell2,500$24.92$62,300.00View SEC Filing Icon  
9/7/2021Todd Franklin WatanabeCEOSell1,000$21.14$21,140.00View SEC Filing Icon  
8/5/2021Todd Franklin WatanabeCEOSell1,000$20.81$20,810.00View SEC Filing Icon  
See Full Table

SEC Filings (Institutional Ownership Changes) for Arcutis Biotherapeutics (NASDAQ:ARQT)

Institutional Buying and Selling by Quarter

This chart shows the instiutional buying and selling at ARQT by year and by quarter.

Skip Institutional Buying and Selling Chart and Table DataRead Chart Data in Institutional Trading History Table

Arcutis Biotherapeutics Institutional Trading History

Reporting DateHedge FundShares HeldMarket Value% of PortfolioQuarterly Change in SharesOwnership in CompanyDetails
7/12/2024SG Americas Securities LLC99,161$0.92M0.0%+531.2%0.086%Search for SEC Filing on Google Icon
7/10/2024CWM LLC4,104$38K0.0%+6,740.0%0.004%Search for SEC Filing on Google Icon
5/24/2024Farallon Capital Management LLC1,780,000$17.64M0.1%N/A1.538%Search for SEC Filing on Google Icon
5/17/2024Ikarian Capital LLC589,642$5.84M0.6%N/A0.510%Search for SEC Filing on Google Icon
5/16/2024California State Teachers Retirement System7,956$79K0.0%-38.9%0.007%Search for SEC Filing on Google Icon
5/16/2024Bain Capital Life Sciences Investors LLC2,011,687$19.94M1.6%-32.9%1.741%Search for SEC Filing on Google Icon
5/15/2024Price T Rowe Associates Inc. MD47,753$0.47M0.0%+3.6%0.041%Search for SEC Filing on Google Icon
5/15/2024PEAK6 Investments LLC30,000$0.30M0.0%+50.0%0.026%Search for SEC Filing on Google Icon
5/13/2024Ameritas Investment Partners Inc.7,871$78K0.0%+55.2%0.007%Search for SEC Filing on Google Icon
5/10/2024Vanguard Group Inc.5,166,417$51.20M0.0%+5.5%4.472%Search for SEC Filing on Google Icon
5/9/2024State Board of Administration of Florida Retirement System13,787$0.15M0.0%-32.9%0.012%Search for SEC Filing on Google Icon
5/9/2024Koshinski Asset Management Inc.20,000$0.20M0.0%N/A0.017%Search for SEC Filing on Google Icon
5/8/2024ProShare Advisors LLC20,990$0.21M0.0%+9.8%0.018%Search for SEC Filing on Google Icon
5/7/2024Susquehanna Fundamental Investments LLC120,493$1.19M0.1%N/A0.104%Search for SEC Filing on Google Icon
5/7/2024SG Americas Securities LLC15,709$0.16M0.0%-35.5%0.014%Search for SEC Filing on Google Icon
5/2/2024Jennison Associates LLC12,176,315$120.67M0.1%+34.3%10.540%Search for SEC Filing on Google Icon
5/1/2024Capstone Investment Advisors LLC57,378$0.57M0.0%N/A0.050%Search for SEC Filing on Google Icon
5/1/2024Mirae Asset Global Investments Co. Ltd.46,654$0.47M0.0%N/A0.040%Search for SEC Filing on Google Icon
4/29/2024China Universal Asset Management Co. Ltd.18,614$0.18M0.0%+70.5%0.016%Search for SEC Filing on Google Icon
4/23/2024Fishman Jay A Ltd. MI224,300$2.22M0.2%+323.2%0.232%Search for SEC Filing on Google Icon
4/19/2024AMI Asset Management Corp345,239$3.42M0.2%N/A0.357%Search for SEC Filing on Google Icon
4/17/2024Hennion & Walsh Asset Management Inc.48,997$0.49M0.0%+14.4%0.051%Search for SEC Filing on Google Icon
4/5/2024Los Angeles Capital Management LLC148,433$1.47M0.0%-23.7%0.153%Search for SEC Filing on Google Icon
2/15/2024Opaleye Management Inc.1,960,000$6.33M1.7%N/A2.077%Search for SEC Filing on Google Icon
2/15/2024Frazier Life Sciences Management L.P.8,764,232$28.31M1.5%+0.9%9.286%Search for SEC Filing on Google Icon
2/15/2024Cantor Fitzgerald L. P.10,114$33K0.0%N/A0.011%Search for SEC Filing on Google Icon
2/14/2024ADAR1 Capital Management LLC275,000$0.89M0.3%N/A0.291%Search for SEC Filing on Google Icon
2/14/2024Pennant Investors LP170,900$0.55M0.1%N/A0.181%Search for SEC Filing on Google Icon
2/14/2024Ghisallo Capital Management LLC100,000$0.32M0.0%N/A0.106%Search for SEC Filing on Google Icon
2/14/2024Pivotal bioVenture Partners Investment Advisor LLC1,910,009$6.17M1.6%+72.8%2.024%Search for SEC Filing on Google Icon
2/14/2024Rubric Capital Management LP6,644,530$21.46M0.4%+32.0%7.040%Search for SEC Filing on Google Icon
2/14/2024Vestal Point Capital LP2,700,000$8.72M0.9%N/A2.861%Search for SEC Filing on Google Icon
2/12/2024Cape Investment Advisory Inc.8,004$26K0.0%N/A0.008%Search for SEC Filing on Google Icon
2/9/2024Franklin Resources Inc.4,655,544$15.04M0.0%+260.2%4.933%Search for SEC Filing on Google Icon
2/9/2024GW&K Investment Management LLC1,640,325$5.30M0.0%-20.7%1.738%Search for SEC Filing on Google Icon
2/8/2024Wade G W & Inc.53,100$0.17M0.0%+34.8%0.056%Search for SEC Filing on Google Icon
2/6/2024Amalgamated Bank11,078$36K0.0%+48.9%0.012%Search for SEC Filing on Google Icon
2/6/2024Los Angeles Capital Management LLC194,461$0.63M0.0%N/A0.206%Search for SEC Filing on Google Icon
2/6/2024Wilbanks Smith & Thomas Asset Management LLC20,000$65K0.0%N/A0.021%Search for SEC Filing on Google Icon
2/5/2024Victory Capital Management Inc.10,419$34K0.0%N/A0.011%Search for SEC Filing on Google Icon
2/1/2024Jennison Associates LLC9,066,082$29.28M0.0%+104.6%9.606%Search for SEC Filing on Google Icon
1/31/2024abrdn plc148,874$0.48M0.0%N/A0.158%Search for SEC Filing on Google Icon
1/31/2024Federated Hermes Inc.521,469$1.68M0.0%+769.1%0.553%Search for SEC Filing on Google Icon
1/30/2024Vontobel Holding Ltd.21,000$68K0.0%-57.3%0.022%Search for SEC Filing on Google Icon
1/24/2024DekaBank Deutsche Girozentrale140,000$0.46M0.0%N/A0.148%Search for SEC Filing on Google Icon
1/24/2024Fishman Jay A Ltd. MI53,000$0.17M0.0%-39.1%0.056%Search for SEC Filing on Google Icon
1/24/2024China Universal Asset Management Co. Ltd.10,920$35K0.0%+586.8%0.012%Search for SEC Filing on Google Icon
1/12/2024SG Americas Securities LLC24,356$79K0.0%N/A0.026%Search for SEC Filing on Google Icon
1/1/2024Deutsche Bank AG30,362$0.16M0.0%+13.7%0.032%Search for SEC Filing on Google Icon
12/6/2023Citigroup Inc.176,822$0.94M0.0%+15.1%0.187%Search for SEC Filing on Google Icon
11/22/2023Polar Capital Holdings Plc3,117,944$16.56M0.1%-0.3%3.304%Search for SEC Filing on Google Icon
11/15/2023Tejara Capital Ltd309,179$1.64M0.9%+88.3%0.328%Search for SEC Filing on Google Icon
11/15/2023Rubric Capital Management LP5,034,530$26.73M1.0%+3.1%5.334%Search for SEC Filing on Google Icon
11/14/2023Rubric Capital Management LP5,034,530$26.73M1.0%+3.1%5.334%Search for SEC Filing on Google Icon
11/14/2023Trexquant Investment LP58,568$0.31M0.0%N/A0.062%Search for SEC Filing on Google Icon
11/14/2023Profund Advisors LLC69,926$0.37M0.0%-22.1%0.074%Search for SEC Filing on Google Icon
11/13/2023Fishman Jay A Ltd. MI87,000$0.46M0.1%+13.0%0.092%Search for SEC Filing on Google Icon
11/13/2023Federated Hermes Inc.60,000$0.32M0.0%+50.0%0.064%Search for SEC Filing on Google Icon
11/13/2023Dark Forest Capital Management LP74,293$0.39M0.0%N/A0.079%Search for SEC Filing on Google Icon
11/13/2023FMR LLC8,262,042$43.87M0.0%-10.3%8.754%Search for SEC Filing on Google Icon
11/13/2023Tejara Capital Ltd309,179$1.64M1.2%+88.3%0.328%Search for SEC Filing on Google Icon
11/13/2023Rafferty Asset Management LLC419,309$2.23M0.0%-16.1%0.444%Search for SEC Filing on Google Icon
11/13/2023E Fund Management Co. Ltd.21,535$0.11M0.0%-19.9%0.023%Search for SEC Filing on Google Icon
11/9/2023Citigroup Inc.176,822$0.94M0.0%+15.1%0.287%Search for SEC Filing on Google Icon
11/8/2023Wade G W & Inc.39,400$0.21M0.0%+168.0%0.064%Search for SEC Filing on Google Icon
11/8/2023Swiss National Bank101,200$0.54M0.0%+9.9%0.164%Search for SEC Filing on Google Icon
11/7/2023Barclays PLC207,077$1.10M0.0%-11.3%0.336%Search for SEC Filing on Google Icon
11/7/2023Fox Run Management L.L.C.11,216$60K0.0%N/A0.018%Search for SEC Filing on Google Icon
11/7/2023Jump Financial LLC20,286$0.11M0.0%N/A0.033%Search for SEC Filing on Google Icon
10/31/2023Jennison Associates LLC4,432,175$23.54M0.0%+3.2%7.189%Search for SEC Filing on Google Icon
10/27/2023Hennion & Walsh Asset Management Inc.95,308$0.51M0.0%-6.9%0.155%Search for SEC Filing on Google Icon
10/24/2023Bank of New York Mellon Corp237,779$1.26M0.0%+12.9%0.386%Search for SEC Filing on Google Icon
10/11/2023Vontobel Holding Ltd.49,191$0.26M0.0%+75.3%0.080%Search for SEC Filing on Google Icon
9/21/2023Barclays PLC233,418$2.22M0.0%-82.5%0.379%Search for SEC Filing on Google Icon
8/15/2023Suvretta Capital Management LLC872,427$8.31M0.4%+28.4%1.415%Search for SEC Filing on Google Icon
8/14/2023Cormorant Asset Management LP800,000$7.62M0.4%N/A1.298%Search for SEC Filing on Google Icon
8/14/2023Marshall Wace LLP2,317,541$22.09M0.0%+0.5%3.759%Search for SEC Filing on Google Icon
8/14/2023UniSuper Management Pty Ltd340,000$3.24M0.0%N/A0.552%Search for SEC Filing on Google Icon
8/14/2023Polar Capital Holdings Plc3,127,777$29.81M0.2%-0.2%5.073%Search for SEC Filing on Google Icon
8/11/2023Pivotal bioVenture Partners Investment Advisor LLC1,105,309$10.53M3.5%+94.2%1.793%Search for SEC Filing on Google Icon
8/11/2023Sectoral Asset Management Inc.14,287$0.14M0.0%-95.5%0.023%Search for SEC Filing on Google Icon
8/11/2023Rubric Capital Management LP4,884,530$46.55M2.0%+39.6%7.923%Search for SEC Filing on Google Icon
8/11/2023Hsbc Holdings PLC144,815$1.38M0.0%+19.2%0.235%Search for SEC Filing on Google Icon
8/11/2023Franklin Resources Inc.1,652,536$15.75M0.0%+3.7%2.681%Search for SEC Filing on Google Icon
8/11/2023Tejara Capital Ltd164,179$1.57M0.8%+67.5%0.266%Search for SEC Filing on Google Icon
8/11/2023E Fund Management Co. Ltd.26,877$0.26M0.0%+55.4%0.044%Search for SEC Filing on Google Icon
8/10/2023Profund Advisors LLC89,780$0.86M0.0%+59.8%0.146%Search for SEC Filing on Google Icon
8/10/2023Citigroup Inc.153,588$1.46M0.0%-37.1%0.250%Search for SEC Filing on Google Icon
8/8/2023AlphaCentric Advisors LLC292,500$2.79M1.5%+53.9%0.476%Search for SEC Filing on Google Icon
8/8/2023Commerce Bank19,005$0.18M0.0%+14.0%0.031%Search for SEC Filing on Google Icon
8/7/2023Principal Financial Group Inc.14,936$0.14M0.0%+11.6%0.024%Search for SEC Filing on Google Icon
8/4/2023American International Group Inc.24,748$0.24M0.0%+23.5%0.040%Search for SEC Filing on Google Icon
8/3/2023Barclays PLC233,418$2.22M0.0%-82.5%0.380%Search for SEC Filing on Google Icon
8/3/2023Jennison Associates LLC4,293,966$40.92M0.0%+93.9%6.991%Search for SEC Filing on Google Icon
8/3/2023Bank of New York Mellon Corp210,609$2.01M0.0%+54.7%0.343%Search for SEC Filing on Google Icon
8/1/2023Regency Capital Management Inc. DE13,000$0.12M0.1%N/A0.021%Search for SEC Filing on Google Icon
8/1/2023Keybank National Association OH13,029$0.12M0.0%N/A0.021%Search for SEC Filing on Google Icon
7/27/2023Virtu Financial LLC21,769$0.21M0.0%N/A0.035%Search for SEC Filing on Google Icon
7/24/2023Vontobel Holding Ltd.28,066$0.27M0.0%+23.3%0.046%Search for SEC Filing on Google Icon
7/19/2023Teacher Retirement System of Texas11,600$0.11M0.0%-11.7%0.019%Search for SEC Filing on Google Icon
Data available starting January 2016

See Full Table
Arcutis Biotherapeutics logo
Arcutis Biotherapeutics, Inc., a biopharmaceutical company, focuses on developing and commercializing treatments for dermatological diseases. Its lead product candidate is ARQ-151, a topical roflumilast cream that has completed Phase III clinical trials for the treatment of plaque psoriasis and atopic dermatitis. The company is also developing ARQ-154, a topical ZORYVE for the treatment of scalp and body psoriasis and seborrheic dermatitis; ARQ-252, a selective topical janus kinase type 1 inhibitor for hand eczema and vitiligo; ARQ-255, a topical JAK1 inhibitor for alopecia areata; and ARQ-234, a CD200R fusion protein for the treatment of moderate-to-severe atopic dermatitis. The company was formerly known as Arcutis, Inc. and changed its name to Arcutis Biotherapeutics, Inc. in October 2019. Arcutis Biotherapeutics, Inc. was incorporated in 2016 and is headquartered in Westlake Village, California.
Read More on Arcutis Biotherapeutics

Today's Range

Now: $9.75
Low: $9.62
High: $9.92

50 Day Range

MA: $9.07
Low: $7.24
High: $10.77

52 Week Range

Now: $9.75
Low: $1.76
High: $13.17

Volume

1,019,225 shs

Average Volume

3,032,407 shs

Market Capitalization

$1.13 billion

P/E Ratio

N/A

Dividend Yield

N/A

Beta

1.18

Who are the company insiders with the largest holdings of Arcutis Biotherapeutics?

Arcutis Biotherapeutics' top insider shareholders include:
  1. Life Sciences Viii L Frazier (Major Shareholder)
  2. Todd Franklin Watanabe (CEO)
  3. Todd Franklin Watanabe (Insider)
  4. Patrick Burnett (Insider)
  5. Masaru Matsuda (Insider)
  6. Howard G Welgus (Director)
  7. Larry Todd Edwards (SVP)
  8. Patricia A Turney (SVP)
  9. Scott L Burrows (CFO)
Learn More about top insider investors at Arcutis Biotherapeutics.

Who are the major institutional investors of Arcutis Biotherapeutics?

Arcutis Biotherapeutics' top institutional shareholders include:
  1. SG Americas Securities LLC — 0.09%
  2. CWM LLC — 0.00%
Learn More about top institutional investors of Arcutis Biotherapeutics stock.

Which institutional investors are buying Arcutis Biotherapeutics stock?

During the last quarter, ARQT stock was bought by institutional investors including:
  1. SG Americas Securities LLC
  2. CWM LLC