Parkman Healthcare Partners LLC Takes Position in Arcus Biosciences, Inc. $RCUS

Parkman Healthcare Partners LLC purchased a new stake in Arcus Biosciences, Inc. (NYSE:RCUS) during the second quarter, HoldingsChannel.com reports. The firm purchased 919,266 shares of the company’s stock, valued at approximately $28,341,000. Arcus Biosciences makes up approximately 2.9% of Parkman Healthcare Partners LLC’s investment portfolio, making the stock its 6th biggest holding.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RCUS. GAMMA Investing LLC raised its position in Arcus Biosciences by 10.0% in the second quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock worth $122,000 after acquiring an additional 359 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Arcus Biosciences by 14.6% during the 1st quarter. Royal Bank of Canada now owns 4,758 shares of the company’s stock worth $102,000 after purchasing an additional 607 shares in the last quarter. Creative Planning boosted its position in shares of Arcus Biosciences by 2.7% during the 3rd quarter. Creative Planning now owns 29,629 shares of the company’s stock worth $403,000 after purchasing an additional 771 shares in the last quarter. Hantz Financial Services Inc. grew its stake in shares of Arcus Biosciences by 121.9% during the 4th quarter. Hantz Financial Services Inc. now owns 1,604 shares of the company’s stock worth $38,000 after purchasing an additional 881 shares during the period. Finally, New York State Teachers Retirement System grew its stake 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 purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds own 92.89% of the company’s stock.

Arcus Biosciences Stock Down 0.5%

Arcus Biosciences stock opened at $30.20 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.82 and a current ratio of 3.82. The firm has a market capitalization of $3.85 billion, a price-to-earnings ratio of -7.74 and a beta of 0.80. Arcus Biosciences, Inc. has a fifty-two week low of $10.07 and a fifty-two week high of $31.74. The stock’s fifty day moving average is $28.62 and its two-hundred day moving average is $24.84.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.72) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.17. The business had revenue of $41.00 million during the quarter, compared to analysts’ expectations of $21.98 million. Arcus Biosciences had a negative return on equity of 89.54% and a negative net margin of 393.16%.The business’s quarterly revenue was down 74.4% on a year-over-year basis. Analysts predict that Arcus Biosciences, Inc. will post -3.53 EPS for the current fiscal year.

Insider Transactions at Arcus Biosciences

In related news, CAO Alexander Azoy sold 2,827 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $30.00, for a total value of $84,810.00. Following the sale, the chief accounting officer directly owned 39,581 shares of the company’s stock, valued at approximately $1,187,430. This represents a 6.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Juan C. Jaen sold 20,067 shares of the firm’s stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $28.62, for a total transaction of $574,317.54. Following the transaction, the president owned 822,240 shares of the company’s stock, valued at $23,532,508.80. This trade represents a 2.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 105,389 shares of company stock worth $3,060,164. 7.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RCUS. Wedbush increased their price target on shares of Arcus Biosciences from $41.00 to $43.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Morgan Stanley set a $23.00 target price on shares of Arcus Biosciences in a research report on Monday, August 10th. Wall Street Zen lowered shares of Arcus Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Truist Financial initiated coverage on shares of Arcus Biosciences in a report on Monday, May 18th. They issued a “buy” rating and a $35.00 target price for the company. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $42.00 price target on shares of Arcus Biosciences in a research report on Friday, August 7th. Eight equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.80.

Arcus Biosciences Company 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.