Vanguard Group Inc. Increases Stock Holdings in Arcus Biosciences, Inc. $RCUS

Vanguard Group Inc. increased its stake in shares of Arcus Biosciences, Inc. (NYSE:RCUS) by 1.1% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 6,629,453 shares of the company’s stock after acquiring an additional 73,210 shares during the period. Vanguard Group Inc. owned approximately 6.14% of Arcus Biosciences worth $90,161,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC raised its stake in shares of Arcus Biosciences by 253.9% during the first quarter. AQR Capital Management LLC now owns 90,954 shares of the company’s stock valued at $714,000 after purchasing an additional 65,254 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Arcus Biosciences by 10.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,572 shares of the company’s stock valued at $297,000 after purchasing an additional 3,565 shares during the period. Millennium Management LLC grew its holdings in 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 purchasing an additional 270,253 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Arcus Biosciences by 106.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 914,208 shares of the company’s stock worth $7,177,000 after buying an additional 470,755 shares during the period. Finally, Strs Ohio purchased a new stake in Arcus Biosciences during the 1st quarter worth $67,000. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Insiders Place Their Bets

In other Arcus Biosciences news, COO Jennifer Jarrett sold 11,225 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $21.88, for a total value of $245,603.00. Following the transaction, the chief operating officer owned 203,007 shares of the company’s stock, valued at $4,441,793.16. This trade represents a 5.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Juan C. Jaen sold 31,823 shares of Arcus Biosciences stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $21.41, for a total value of $681,330.43. Following the completion of the transaction, the president owned 922,240 shares of the company’s stock, valued at approximately $19,745,158.40. The trade was a 3.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 180,990 shares of company stock worth $3,974,764. Corporate insiders own 9.60% of the company’s stock.

Wall Street Analyst Weigh In

RCUS has been the subject of a number of analyst reports. Leerink Partners upped their price objective on shares of Arcus Biosciences from $36.00 to $49.00 and gave the company an “outperform” rating in a research report on Monday. Truist Financial set a $30.00 price objective on Arcus Biosciences in a research note on Friday, December 12th. Wall Street Zen raised Arcus Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. HC Wainwright reiterated a “buy” rating and set a $32.00 target price on shares of Arcus Biosciences in a research note on Monday. Finally, The Goldman Sachs Group upgraded shares of Arcus Biosciences from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $16.00 to $28.00 in a research note on Monday, January 12th. Eight equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $30.20.

Arcus Biosciences Stock Performance

RCUS stock opened at $22.10 on Friday. The company has a current ratio of 4.36, a quick ratio of 4.36 and a debt-to-equity ratio of 0.16. The firm has a market cap of $2.77 billion, a P/E ratio of -6.70 and a beta of 0.85. Arcus Biosciences, Inc. has a 12-month low of $6.50 and a 12-month high of $26.40. The stock’s 50 day simple moving average is $21.54 and its 200 day simple moving average is $18.79.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings data on Wednesday, February 25th. The company reported ($0.89) EPS for the quarter, topping analysts’ consensus estimates of ($1.11) by $0.22. Arcus Biosciences had a negative net margin of 142.91% and a negative return on equity of 65.77%. The firm had revenue of $33.00 million during the quarter, compared to the consensus estimate of $24.94 million. During the same quarter in the previous year, the company posted ($1.03) earnings per share. The firm’s revenue was down 8.3% on a year-over-year basis. As a group, equities research analysts predict that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.

About Arcus Biosciences

Arcus Biosciences is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel cancer immunotherapies. The company’s research platform centers on modulating tumor microenvironments and immune checkpoints through both small-molecule and antibody-based candidates. Arcus aims to enhance antitumor immune responses by targeting pathways such as the adenosine axis and inhibitory receptors on immune cells.

The company’s lead clinical programs include etrumadenant, an orally administered A2A adenosine receptor antagonist being evaluated in combination with anti-PD-1 therapy, and domvanalimab, an anti-TIGIT monoclonal antibody.