Profund Advisors LLC Raises Holdings in Arcus Biosciences, Inc. $RCUS

Profund Advisors LLC raised its holdings in shares of Arcus Biosciences, Inc. (NYSE:RCUS) by 125.3% in the 4th quarter, HoldingsChannel reports. The fund owned 39,639 shares of the company’s stock after buying an additional 22,048 shares during the quarter. Profund Advisors LLC’s holdings in Arcus Biosciences were worth $945,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. ProShare Advisors LLC boosted its position in shares of Arcus Biosciences by 18.3% during the 4th quarter. ProShare Advisors LLC now owns 15,367 shares of the company’s stock worth $366,000 after acquiring an additional 2,377 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Arcus Biosciences by 61.1% during the 4th quarter. Thrivent Financial for Lutherans now owns 80,393 shares of the company’s stock worth $1,916,000 after acquiring an additional 30,484 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Arcus Biosciences by 25.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 19,481 shares of the company’s stock worth $464,000 after acquiring an additional 3,900 shares in the last quarter. Strs Ohio acquired a new position in shares of Arcus Biosciences during the 4th quarter worth about $400,000. Finally, New York State Teachers Retirement System boosted its position in shares of Arcus Biosciences by 1.1% during the 4th quarter. New York State Teachers Retirement System now owns 92,431 shares of the company’s stock worth $2,203,000 after acquiring an additional 1,000 shares in the last quarter. 92.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. The Goldman Sachs Group upped their price objective on Arcus Biosciences from $30.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Leerink Partners set a $47.00 price objective on Arcus Biosciences in a research report on Monday, April 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcus Biosciences in a research report on Monday, April 20th. Wells Fargo & Company set a $23.00 price objective on Arcus Biosciences and gave the stock an “equal weight” rating in a research report on Thursday, February 12th. Finally, Wall Street Zen cut Arcus Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Seven 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 stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $33.89.

Arcus Biosciences Stock Up 0.3%

Shares of NYSE RCUS opened at $23.82 on Friday. The stock has a market cap of $3.00 billion, a PE ratio of -7.49 and a beta of 0.87. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.19. Arcus Biosciences, Inc. has a 52-week low of $7.91 and a 52-week high of $28.72. The business has a 50-day moving average price of $23.36 and a 200 day moving average price of $22.50.

Arcus Biosciences (NYSE:RCUS) last announced its earnings results on Tuesday, May 5th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.10). The firm had revenue of $17.00 million during the quarter, compared to analyst estimates of $29.49 million. Arcus Biosciences had a negative net margin of 156.36% and a negative return on equity of 68.97%. The firm’s revenue for the quarter was down 39.3% compared to the same quarter last year. During the same period last year, the company earned ($1.14) earnings per share. Equities research analysts forecast that Arcus Biosciences, Inc. will post -3.54 earnings per share for the current year.

Insider Activity

In related news, CFO Robert C. Goeltz II sold 7,763 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $25.63, for a total value of $198,965.69. Following the completion of the sale, the chief financial officer directly owned 84,161 shares of the company’s stock, valued at $2,157,046.43. This represents a 8.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 9.60% of the stock is currently owned by company insiders.

Arcus Biosciences Profile

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.