Legato Capital Management LLC Invests $621,000 in Arcus Biosciences, Inc. $RCUS

Legato Capital Management LLC purchased a new position in shares of Arcus Biosciences, Inc. (NYSE:RCUS) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 26,055 shares of the company’s stock, valued at approximately $621,000.

Other hedge funds have also made changes to their positions in the company. Decheng Capital LLC lifted its position in shares of Arcus Biosciences by 242.3% during the third quarter. Decheng Capital LLC now owns 547,609 shares of the company’s stock worth $7,447,000 after purchasing an additional 387,609 shares in the last quarter. WINTON GROUP Ltd purchased a new position in Arcus Biosciences in the third quarter worth approximately $1,254,000. Candriam S.C.A. purchased a new position in Arcus Biosciences in the third quarter worth approximately $5,147,000. Vanguard Group Inc. lifted its stake in Arcus Biosciences by 1.1% in the third quarter. Vanguard Group Inc. now owns 6,629,453 shares of the company’s stock worth $90,161,000 after acquiring an additional 73,210 shares during the last quarter. Finally, Aberdeen Group plc purchased a new position in Arcus Biosciences in the third quarter worth approximately $4,418,000. Institutional investors and hedge funds own 92.89% of the company’s stock.

Arcus Biosciences Stock Up 3.2%

RCUS stock opened at $24.17 on Wednesday. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.19. Arcus Biosciences, Inc. has a twelve month low of $7.91 and a twelve month high of $28.72. The company’s 50 day moving average is $23.41 and its two-hundred day moving average is $22.58. The stock has a market cap of $3.04 billion, a P/E ratio of -7.60 and a beta of 0.87.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings data 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). Arcus Biosciences had a negative return on equity of 68.97% and a negative net margin of 156.36%.The company had revenue of $17.00 million for the quarter, compared to analyst estimates of $29.49 million. During the same period in the previous year, the business posted ($1.14) EPS. The firm’s revenue for the quarter was down 39.3% compared to the same quarter last year. Research analysts expect that Arcus Biosciences, Inc. will post -3.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 7,763 shares of the firm’s 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 sale, the chief financial officer owned 84,161 shares of the company’s stock, valued at approximately $2,157,046.43. This trade represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 9.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on RCUS. HC Wainwright reiterated a “buy” rating and issued a $32.00 price target on shares of Arcus Biosciences in a research note on Monday, March 2nd. Wedbush lifted their price target on shares of Arcus Biosciences from $37.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday, April 2nd. Morgan Stanley lifted their price target on shares of Arcus Biosciences from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. The Goldman Sachs Group lifted their price target on shares of Arcus Biosciences from $30.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, Citigroup lifted their price target on shares of Arcus Biosciences from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Seven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.89.

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.