Corient Private Wealth LP Takes Position in Arcus Biosciences, Inc. $RCUS

Corient Private Wealth LP bought a new position in shares of Arcus Biosciences, Inc. (NYSE:RCUS) during the second quarter, Holdings Channel reports. The firm bought 59,134 shares of the company’s stock, valued at approximately $1,823,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RCUS. AQR Capital Management LLC increased its holdings 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 buying an additional 65,254 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in 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 worth $297,000 after acquiring an additional 3,565 shares during the period. Millennium Management LLC boosted its stake in Arcus Biosciences by 29.2% in the first quarter. Millennium Management LLC now owns 1,194,622 shares of the company’s stock valued at $9,378,000 after acquiring an additional 270,253 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Arcus Biosciences by 106.2% in the first quarter. Goldman Sachs Group Inc. now owns 914,208 shares of the company’s stock valued at $7,177,000 after acquiring an additional 470,755 shares during the last quarter. Finally, Strs Ohio purchased a new position in Arcus Biosciences in the first quarter valued at about $67,000. 92.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on RCUS shares. Lifesci Capital initiated coverage on shares of Arcus Biosciences in a research note on Thursday, June 4th. They set an “outperform” rating and a $46.00 price target for the company. Morgan Stanley set a $23.00 price objective on Arcus Biosciences in a research note on Monday, August 10th. Truist Financial began coverage on Arcus Biosciences in a report on Monday, May 18th. They set a “buy” rating and a $35.00 price objective for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcus Biosciences in a report on Friday, July 17th. Finally, Wedbush raised their target price on Arcus Biosciences from $41.00 to $43.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Eight investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.80.

Insider Buying and Selling

In related news, CAO Alexander Azoy sold 2,827 shares of Arcus Biosciences stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $30.00, for a total value of $84,810.00. Following the completion of the transaction, the chief accounting officer directly owned 39,581 shares in the company, valued at approximately $1,187,430. The trade was a 6.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 Arcus Biosciences stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $28.62, for a total transaction of $574,317.54. Following the completion of the transaction, the president owned 822,240 shares of the company’s stock, valued at $23,532,508.80. This represents a 2.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 102,827 shares of company stock worth $2,994,141 over the last 90 days. 7.60% of the stock is currently owned by corporate insiders.

Arcus Biosciences Price Performance

NYSE RCUS opened at $30.03 on Friday. The company has a market cap of $3.82 billion, a PE ratio of -7.70 and a beta of 0.81. Arcus Biosciences, Inc. has a 52 week low of $11.04 and a 52 week high of $31.74. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.22. The firm’s 50-day simple moving average is $29.23 and its two-hundred day simple moving average is $25.38.

Arcus Biosciences (NYSE:RCUS) last issued its earnings results on Wednesday, August 5th. The company reported ($0.72) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.17. The firm had revenue of $41.00 million during the quarter, compared to analyst estimates of $21.98 million. Arcus Biosciences had a negative net margin of 393.16% and a negative return on equity of 89.54%. The company’s quarterly revenue was down 74.4% compared to the same quarter last year. Research analysts predict that Arcus Biosciences, Inc. will post -3.6 earnings per share for the current year.

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.