Rhumbline Advisers Has $1.71 Million Stock Holdings in Arcus Biosciences, Inc. $RCUS

Rhumbline Advisers boosted its stake in Arcus Biosciences, Inc. (NYSE:RCUS) by 15.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 210,355 shares of the company’s stock after buying an additional 27,446 shares during the quarter. Rhumbline Advisers owned approximately 0.20% of Arcus Biosciences worth $1,712,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Gilead Sciences Inc. increased its stake in shares of Arcus Biosciences by 4.5% in the first quarter. Gilead Sciences Inc. now owns 31,424,760 shares of the company’s stock worth $246,684,000 after acquiring an additional 1,363,636 shares during the last quarter. Vanguard Group Inc. grew its stake in Arcus Biosciences by 24.1% in the first quarter. Vanguard Group Inc. now owns 6,687,800 shares of the company’s stock valued at $52,499,000 after purchasing an additional 1,298,584 shares in the last quarter. Woodline Partners LP increased its position in Arcus Biosciences by 45.5% in the 1st quarter. Woodline Partners LP now owns 5,127,304 shares of the company’s stock worth $40,249,000 after purchasing an additional 1,603,367 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Arcus Biosciences by 14.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,596,329 shares of the company’s stock worth $12,995,000 after purchasing an additional 207,097 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Arcus Biosciences by 29.2% during the 1st quarter. Millennium Management LLC now owns 1,194,622 shares of the company’s stock valued at $9,378,000 after buying an additional 270,253 shares during the last quarter. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Arcus Biosciences

In related news, CFO Robert C. Goeltz II sold 5,000 shares of Arcus Biosciences stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $20.00, for a total value of $100,000.00. Following the completion of the sale, the chief financial officer directly owned 92,138 shares in the company, valued at $1,842,760. This trade represents a 5.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Alexander Azoy sold 2,831 shares of the company’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $13.00, for a total transaction of $36,803.00. Following the transaction, the chief accounting officer owned 27,363 shares in the company, valued at approximately $355,719. The trade was a 9.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 294,193 shares of company stock worth $6,098,761 in the last ninety days. 9.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. The Goldman Sachs Group increased their price objective on Arcus Biosciences from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Wells Fargo & Company increased their price target on shares of Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Wall Street Zen lowered shares of Arcus Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday. Wedbush set a $35.00 target price on shares of Arcus Biosciences and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Finally, Citigroup boosted their price target on Arcus Biosciences from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Arcus Biosciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.44.

Arcus Biosciences Stock Down 3.0%

Shares of NYSE:RCUS opened at $25.04 on Wednesday. Arcus Biosciences, Inc. has a 12 month low of $6.50 and a 12 month high of $26.40. The firm has a market cap of $2.70 billion, a P/E ratio of -7.28 and a beta of 0.74. The company has a quick ratio of 3.65, a current ratio of 3.65 and a debt-to-equity ratio of 0.22. The company’s 50-day moving average price is $19.73 and its two-hundred day moving average price is $13.43.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings data on Tuesday, October 28th. The company reported ($1.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.33) by $0.06. The firm had revenue of $26.00 million for the quarter, compared to the consensus estimate of $19.89 million. Arcus Biosciences had a negative return on equity of 68.17% and a negative net margin of 136.40%.The business’s revenue for the quarter was down 45.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.00) EPS. As a group, research analysts forecast that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Arcus Biosciences Company Profile

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. The company's pipeline products include Domvanalimab, an anti-TIGIT antibody, which is in Phase 2 and Phase 3 clinical trial; and AB308, an investigational anti-TIGIT monoclonal antibody, which is in Phase 1b clinical trial to study people with advanced solid and hematologic malignancies.