204,338 Shares in Arcus Biosciences, Inc. $RCUS Purchased by Nicholas Investment Partners LP

Nicholas Investment Partners LP acquired a new position in shares of Arcus Biosciences, Inc. (NYSE:RCUS) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 204,338 shares of the company’s stock, valued at approximately $4,869,000.

Several other institutional investors and hedge funds have also bought and sold shares of RCUS. AQR Capital Management LLC raised its stake in Arcus Biosciences by 253.9% during the first quarter. AQR Capital Management LLC now owns 90,954 shares of the company’s stock worth $714,000 after acquiring an additional 65,254 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Arcus Biosciences by 10.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,572 shares of the company’s stock worth $297,000 after acquiring an additional 3,565 shares in the last quarter. Millennium Management LLC raised its stake in Arcus Biosciences by 29.2% during the first quarter. Millennium Management LLC now owns 1,194,622 shares of the company’s stock worth $9,378,000 after acquiring an additional 270,253 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Arcus Biosciences by 106.2% during the first quarter. Goldman Sachs Group Inc. now owns 914,208 shares of the company’s stock worth $7,177,000 after acquiring an additional 470,755 shares in the last quarter. Finally, Strs Ohio acquired a new position in Arcus Biosciences during the first quarter worth about $67,000. Institutional investors own 92.89% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on RCUS. Wedbush boosted their target price on Arcus Biosciences from $37.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday, April 2nd. The Goldman Sachs Group boosted their target price on Arcus Biosciences from $30.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Lifesci Capital began coverage on Arcus Biosciences in a research note on Thursday, June 4th. They set an “outperform” rating and a $46.00 target price for the company. Morgan Stanley boosted their target price on Arcus Biosciences from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Finally, Leerink Partners set a $47.00 target price on Arcus Biosciences in a research note on Monday, April 20th. Eight 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, Arcus Biosciences has a consensus rating of “Moderate Buy” and a consensus target price of $35.10.

Insider Buying and Selling

In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 7,763 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $25.63, for a total transaction of $198,965.69. Following the completion of the sale, the chief financial officer owned 84,161 shares of the company’s stock, valued at approximately $2,157,046.43. This represents a 8.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Alexander Azoy sold 2,562 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $25.77, for a total transaction of $66,022.74. Following the sale, the chief accounting officer directly owned 39,581 shares of the company’s stock, valued at $1,020,002.37. This represents a 6.08% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 9.60% of the company’s stock.

Arcus Biosciences Stock Performance

NYSE:RCUS opened at $23.85 on Friday. The company has a market capitalization of $3.00 billion, a PE ratio of -7.50 and a beta of 0.85. The company has a 50 day simple moving average of $24.05 and a two-hundred day simple moving average of $22.92. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.04 and a current ratio of 4.04. Arcus Biosciences, Inc. has a fifty-two week low of $7.91 and a fifty-two week high of $28.72.

Arcus Biosciences (NYSE:RCUS) last released its earnings results on Tuesday, May 5th. The company reported ($1.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.10). The firm had revenue of $17.00 million for 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 business’s revenue for the quarter was down 39.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.14) EPS. Research analysts anticipate that Arcus Biosciences, Inc. will post -3.66 earnings per share 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.